Chapter 10 transforming LegaCy Banking appLiCations to Banking experienCe pLatforms • Providing omnichannel capabilities: Banks can provide omnichannel capabilities through mobile apps or mobile web so that banking services can be accessed from all channels. • Digitizing banking business models: Existing banking processes can be digitized by using modern digital technologies. For instance, business process flows can be digitized using BPM tools, providing faster and more reliable execution of business processes. Other business processes such as online registration, loan application, information sharing, customer support, and incident management can be digitized using modern digital technologies such as online forms, workflow management, collaboration software, and incident management systems. Systems of engagement should be fully integrated with systems of record. • Digital facelift for user experience: The end user experience (mainly for retail banking) can be reimagined by redesigning the user interface. We can adopt lean architecture providing dashboard experience, personalization, search, and other intuitive information discovery and navigation features. • Service enablement: Banks can build microservices on top of existing APIs or services that are invoked from the user interfaces. If there are no prior services, we need to identify the logical grouping of legacy functions that can be transformed into microservices. • Automation: Identify repetitive jobs and redundant steps that can be automated. Identify human-intensive processes and explore opportunities for automating the steps. Leverage RPA to automate rule-based tasks, data entry tasks, and repetitive tasks to reduce process time and minimize manual errors. • Two-speed digital enablement: This model provides an engaging user experience for end users with rapid innovation. This involves providing granular microservices needed for the fast changing UIs that interface with stable, less frequently changing, back-end web services. • Standardization and centralization: Standardize processes and technologies across the banking ecosystem. Remove unnecessary and redundant or duplicate process steps and consolidate processes. 279