Process Mining in a Leading Italian Bank
"The DIGITAL 360 AWARD was a great step further for our company. Different Press Releases are talking about us. Let’s see what a leading Italian Bank said."
ARTICLE PUBLISHED ON: Corriere Comunicazioni
Back office 4.0, Credem bets on Process Mining and AI
The Bank uses the solutions developed by OT Consulting, winner of the special prize “Digital Transformation” and “B2B Solution”. More efficient activities and lower management costs.
12th Nov 2018
Making back office projects more efficient and bringing the greatest number of jobs and tasks together. In order to achieve these goals, Credem used OT Consulting Solutions -winner of the Special Prize “Digital Transformation” Digital360 Awards 2018 e “B2B Solution”.
These are two specific and integrated solutions. MyInvenio is a Process Mining solution able to automatically draw the process by taking into account the event logs extracted from different systems. Automation Anywhere is, instead, a RPA system.
Thanks to myInvenio, after choosing the process to be automated or reviewed with the Process Digital Transformation, then it’s possible to automatically discover the process by simply uploading the event logs recorded by the bank’s systems. The process begins with the closure request by the customer (without registered letter) or by the bank.
myInvenio allows you also to examine in depth the automation level of the process and the number of Reworks.
In order to confirm whether or not the use of bots for a specific activity is a priority, it’s important to identify the costs and the return on investment after the automation process. Through specific dashboards of myInvenio’s analytics function, it was possible to verify the activity of “closure request Back Office services (BO)” in terms of costs: it was the most expensive activity. Then we decided to approach the automation by 50% of the activity of “Closure request – services expertise BO”.
The strong distinguishing feature of the solution proposed by OT Consulting to Credem -already implemented in other banks- is the proposal for an integrated dashboard focused not just on automation, namely the ability to implement specific activities, but on the ability to monitor the end-to-end processes and objectively measure the ROI of the Process Digital Transformation intervention.
ARTICLE PUBLISHED ON: EconomyUp
A Chief Innovation Officer for Credem: Piergiorgio Grossi,
6th Nov 2018
The Chief Information & Digital Transformation Officer of Ducati is now the first Chief Innovation Officer of Credem Bank. Grossi is a Software expert, he worked for Ferrari and also takes responsibility for startups. By creating this new role, Credem is speeding up its digital transformation strategy that already started in 2016
Piergiorgio Grossi, Chief Information & Digital Transformation Officer of Ducati is now the Chief Innovation Officer of Credem Bank. This is the first time that Credem hires a CIO.
WHO IS PIERGIORGIO GROSSI
With a technical background in software development and team management of software developers, Grossi has long been at Ferrari Formula 1: from 2002 to 2008 as Vice-CIO and from 2008 to 2013 as Head of Information Systems (IOC) of the F1 Racing Team.
He was from 2013 to 2016 in Iconsulting, System Integrator specialized in the development of DataWarehouse, Business Intelligence, Performance Management and Big Data systems. Here he co-founded two startups: Indyco and Better Decisions.
Grossi is also co-founder of ImpactHub Reggio Emilia (laboratory of innovation) and he is involved in projects for different startups as a Internet of Things and DevOps consultant. He is also a speaker for events, conferences, and lectures at universities.
PIERGIORGIO GROSSI AND THE OPEN INNOVATION
In this interview with EconomyUp at the launch of the app Ducati, Piergiorgio Grossi underlined the importance of Open Innovation: the strategy whereby a company searches for ideas, solutions and innovative projects from startups, external consultants, suppliers and other experts outside the company. “We know -he said-, that our engineers are good, but we also know that there are also many good engineers worldwide. So our ability to innovate, the digital one and the vehicle one, comes through partnerships, for example with companies like e-Novia. Its engineers have designed and created this app to combine the power of a Ducati with the infinite potential of artificial intelligence. But, we also collaborate with many startups and universities, including the University of Bologna and the Politecnico of Milan”.
CREDEM AND THE INNOVATION
Digital information is having a huge impact on banks.
The existence of the traditional bank model has been undermined by the introduction of new technologies in the financial sector: the fintech.
Therefore, in order to maintain a competitive advantage, banks must be able to innovate. Some years ago Credem Bank decided to focus on digital innovation.
The fact that, for the first time in its history, Credem has decided to hire a Chief Innovation Officer tells you everything about its strategies.
However, they have already been set up before the appointment of Grossi.
The Bank controlled by the Maramotti family is proceeding with a recruitment campaign that takes also into account the world of information technology.
In 2016 Credem invested 40 million in the Innovation sector by hiring 280 experts and increasing the workforce by +2.5% compared to 2015. Additional entries will take place by the end of 2018.
Credem decided also to act with a series of digital transformation activities with the aim at bringing a greater number of jobs and activities together.
In particular, he has identified a set of action areas such as the banking account closure and ancillary services involving both the branch and the back office.
The IT company OT Consulting has supported Credem in a digital transformation project: we worked on speeding up the slowest functions, on the introduction of bots and the continuous monitoring of ROI, performances and compliance with the aim at reducing time and costs. The distinguishing feature of this solution is an integrated platform that takes into account not just the bots – the ability to enhance specific activities – but to monitor the overall process and measure objectively the return of a digital transformation process. (L.M.)