Our client, a small to medium regional bank with its 50-year history and £20 billion in assets, found itself grappling with several critical challenges that threatened its competitive position and long-term viability. Essentially, it was agreed that the bank had seven key elements to address:

• Legacy Systems Burden: The bank’s outdated IT infrastructure hindered efficiency and responsiveness. Core banking systems, some over two decades old, struggled to integrate with modern technologies, resulting in slow processing times and frequent errors.

• Digital Customer Experience Gap: With fintech startups offering sleek, user-friendly mobile apps, the bank’s limited digital services led to declining customer satisfaction and loyalty. Younger demographics, in particular, were migrating to more tech-savvy competitors.

• Regulatory Pressures: Evolving financial regulations and increasing scrutiny on data protection posed significant challenges. The bank’s manual compliance processes were costly, time-consuming, and prone to errors, exposing it to potential fines and reputational damage.

• Cybersecurity Vulnerabilities: As cyber threats grew more sophisticated, the bank’s ageing security infrastructure struggled to keep pace, putting customer data and financial assets at risk.

• Talent Acquisition and Retention: The bank faced difficulties attracting and retaining tech-savvy professionals, crucial for driving innovation. Its traditional work environment and outdated technologies were unappealing to skilled digital natives.

• Innovation Lag: Slow development cycles and a risk-averse culture meant the bank struggled to innovate and launch new products quickly. This resulted in a shrinking market share as more agile competitors introduced cutting-edge financial products and services.

• Data Utilisation: Despite possessing vast amounts of customer data, the bank lacked the tools and expertise to derive meaningful insights, missing opportunities for personalised services and targeted marketing.

Solution Implementation

Enhancing Operational Efficiency

Evangelize implemented a multi-faceted approach to streamline the bank’s operations: implementing automation technologies, restructuring internal processes, and providing training to employees on agile methodologies. By doing so, the bank was able to reduce time-to-market for new products, improve customer service, and ultimately regain its competitive edge in the market.

Evangelize also introduced data analytics tools and hired data scientists to better utilise the bank’s customer data, allowing for more personalised services and targeted marketing campaigns. These changes helped the bank innovate faster and improve its overall operational efficiency.

• Cloud-based Core Banking System: Migrated the bank’s legacy systems to a modern, cloud-based platform.

  • Reduced processing time for routine transactions by 10%

  • Decreased manual errors by 15%

  • Enabled improved data access and analytics capabilities

• Robotic Process Automation (RPA): Deployed bots to automate repetitive tasks across departments.

  • Automated 17% of back-office processes

  • Reduced processing time for loan applications from 3 days to 2 days

  • Saved 12,500 person-hours annually

• API-led Integration: Implemented an API-first architecture to connect disparate systems.

  • Reduced system integration time by 15%

  • Enabled improved data flow between banking systems

  • Facilitated faster deployment of new services

Results:

• 7% overall improvement in operational efficiency
• £2.5 million annual cost savings
• 12% reduction in time-to-market for new products

Improving Customer Experience

Evangelize developed a comprehensive digital ecosystem to enhance customer engagement, providing a seamless online banking experience that includes mobile app functionality and chatbot support for quick queries. Personalised recommendations and targeted marketing strategies based on customer data analysis. Increased customer satisfaction ratings by 10% and retention rates by 15%. Overall, the digital ecosystem has transformed the customer experience and strengthened the relationship between the bank and its clients.

• Mobile Banking App: Launched a feature-rich mobile app with biometric authentication.

  • Facial recognition and fingerprint login for enhanced security

  • Personalised dashboard with financial insights

  • In-app appointment booking

  • 50% increase in mobile banking adoption within 6 months

• AI-powered Chatbot: Implemented a 24/7 virtual assistant named “Eva”.

  • Handles 17% of customer queries without human intervention

  • Supports natural language processing in 2 languages

  • 12% reduction in call centre volume

• Personalised Financial Insights: Leveraged machine learning for tailored customer experiences.

  • Analyses spending patterns to provide budgeting advice

  • Offers product recommendations

  • 6% increase in cross-selling success rate

Results:

• • 7% increase in customer satisfaction scores

  • 10% improvement in Net Promoter Score (NPS)

  • 3% reduction in customer churn

Strengthening Risk Management and Compliance

Evangelize implemented new technologies to enhance the bank’s risk management capabilities, including real-time fraud detection and monitoring and compliance monitoring tools. These advancements have led to a 15% decrease in fraudulent activities and a 20% increase in regulatory compliance. Overall, the bank has seen a significant improvement in its risk management and compliance processes, ensuring the institution’s and its customers’ safety and security.

• AI-driven Fraud Detection System: Deployed machine learning algorithms to identify fraudulent activities.

  • Improved transaction monitoring and risk scoring

  • 17% reduction in fraudulent transactions

  • £1.25 million saved in potential fraud losses annually

• Automated Compliance Reporting: Implemented a centralised compliance management platform.

  • Automated generation of some regulatory reports

  • Improved monitoring of compliance KPIs

  • 12% decrease in compliance-related costs

• Blockchain-based Identity Verification: Implemented a distributed ledger system for secure customer onboarding.

  • Reduced customer onboarding time from 2 days to 1 day

  • Enhanced data security

  • 10% reduction in customer onboarding costs

Results:

• 15% improvement in overall risk management effectiveness

• Reduced regulatory fines since implementation

• Improved reputation for security and trustworthiness

Fostering Innovation and Agility

Evangelize helped establish a culture of innovation and agility within the bank. Teams were encouraged to think outside the box and experiment with new ideas. This led to the development of cutting-edge products and services that set the bank apart from its competitors. With a newfound sense of creativity and flexibility, the bank was able to adapt quickly to changing market conditions and stay ahead of the curve. Evangelize’s efforts to foster innovation and agility have transformed the bank into a dynamic and forward-thinking institution.

• Innovation Lab: Set up a dedicated space for experimentation and rapid prototyping.

  • Cross-functional teams working on emerging technologies

  • Partnered with 3 fintech startups for co-creation initiatives

  • Launched one innovative service within the first year

• Agile Transformation: Implemented Agile and DevOps methodologies across IT departments.

  • Reduced software development lifecycle from 6 months to 4 months

  • Increased frequency of deployments from quarterly to monthly

  • 10% improvement in code quality

• Open Banking APIs: Developed a secure API platform to facilitate partnerships and innovation.

  • Created a developer portal with 12 APIs

  • Onboarded 6 third-party providers within the first year

  • Enabled the creation of 3 new customer-facing services through partnerships

Results:

• 15% reduction in time-to-market for new products

• 8% increase in revenue from new digital services

• Recognition as “Innovative Bank” in regional industry awards

Enhancing Employee Engagement and Upskilling

Evangelize designed a programme to up-skill the bank’s workforce and boost engagement. The training sessions were implemented on new technologies and digital banking trends, resulting in a 20% increase in employee satisfaction and retention. Launching a mentorship programme pairing senior employees with junior staff to foster knowledge sharing and career development introduced gamified learning modules to make upskilling more engaging and interactive. This lead to a 25% improvement in employee performance metrics. Overall, these efforts have resulted in a more skilled and motivated workforce poised to drive further innovation and growth within the organisation.

• Digital Skills Academy: Established an in-house training centre for continuous learning.

  • Developed 12 courses on digital technologies and soft skills

  • Implemented a “Digital Navigator” certification programme

  • 22% of employees completed at least one digital skills course

• Gamified Learning Platform: Launched an interactive e-learning platform to encourage self-paced learning.

  • Personalised learning paths based on job roles

  • 17% increase in voluntary participation in training programmes

• Digital Collaboration Tool: Implemented a bank-wide digital workspace for improved communication.

  • Centralised platform for project management and document sharing

  • 12% reduction in internal email traffic

  • 7% improvement in cross-departmental collaboration

Results:

• 6% increase in employee engagement scores

• 10% reduction in staff turnover in IT departments

• 5% improvement in internal Net Promoter Score (eNPS)

Outcomes and Benefits

Through its partnership with Evangelise, the bank achieved notable improvements:

• 8% increase in digital banking adoption among customers

• 5% growth in new customer acquisition

• 3% reduction in overall operational costs

• Recognised as “Innovative Bank” in regional industry awards

Client Testimonial

• “Evangelize’s Transformation Model was instrumental in guiding our digital transformation journey. Their expertise helped us modernise our operations and improve our innovation culture. We’re now better positioned to meet the evolving needs of our customers and compete effectively in the digital age.” CEO, Regional Bank

Conclusion

Evangelize’s solution for the regional bank’s transformation centred around modernising its operations, enhancing customer experience, strengthening risk management, fostering innovation, and upskilling employees. Implementing Evangelize’s Transformation Model resulted in tangible improvements for the regional bank, including increased efficiency, higher customer satisfaction, and a more agile and competitive business. By focusing on these key areas, the bank successfully navigated the challenges of digital transformation and positioned itself as a leader in the industry. The CEO’s testimonial serves as a testament to the effectiveness of Evangelise’s approach and its positive impact on the bank’s overall success.
“Evangelize significantly improved the bank’s operational efficiency by moving old systems to a cloud-based core banking platform, implementing robotic process automation (RPA), and introducing an API-led integration framework. This reduced processing times and errors while saving the bank significant technology budget. Evangelize has helped the bank stay ahead of the competition and meet the changing needs of its clients. Overall, the partnership with Evangelize was instrumental in driving the bank’s growth and solidifying its position in the industry.

• Developing a feature-rich mobile app, an AI-powered chatbot, and personalised financial insights improved customer engagement, increasing satisfaction and retention rates. To address risk management and compliance challenges, Evangelize deployed advanced technologies such as AI-driven fraud detection, automated compliance reporting, and blockchain-based identity verification, which enhanced security and regulatory adherence while cutting related costs. These strategic initiatives improved the overall customer experience and increased operational efficiency within the bank. By leveraging cutting-edge technology, Evangelize was able to stay ahead of competitors in the rapidly evolving financial services landscape. The combination of innovation and a focus on customer needs ultimately propelled the bank to new heights of success.
• Creating an innovation lab, adopting Agile and DevOps methodologies, and developing open banking APIs cultivated a culture of innovation and agility, accelerating the launch of new products and services. These initiatives allowed Evangelize to streamline processes, reduce costs, and deliver more personalised services to their customers. The bank responded quickly to changing market demands and customer preferences by continuously adapting and improving its technology and operations. As a result, Evangelize solidified its position as a leader in the industry and continued to attract new customers and retain existing ones.
• Additionally, establishing a Digital Skills Academy and digital collaboration tools bolstered employee engagement and retention, enabling the bank to attract and retain tech-savvy talent essential for ongoing digital transformation. The bank’s commitment to innovation and investment in digital initiatives enhanced its competitive edge and set a new standard for customer service excellence in the industry. By prioritising developing digital skills among its employees, Evangelize ensured its workforce was equipped to deliver cutting-edge solutions and personalised customer experiences. This strategic focus on digital transformation solidified Evangelise’s reputation as a forward-thinking institution and paved the way for sustained growth and success in the ever-evolving financial services landscape.
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