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Delivering Digital Transformation in the Finance & Pensions Industry


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AiM has digitally transformed the operations of big and complex finance/pensions organisations using its expert consultancy services and outstanding dataEstate® software tools for swift, cost-effective and risk-free migration.

If you are keen to know how your teams can increase their productivity, automate their processes, increase compliance and security, and use latest disruptive technologies (like AI, machine learning and robotic processing), then contact me to arrange some AiM consultancy to help you create a high-level roadmap.

A case study of one of our successes in the finance and pensions industry is attached.

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Delivering Digital Transformation in the Finance & Pensions Industry

  1. 1. © AiM Ltd 2018 AiM Data Solutions AIM - DELIVERING DIGITAL TRANSFORMATION IN A FINANCE/PENSIONS ORGANISATION Situation Our customer is an organisation managing large and complex investments and pension funds. With new targets to meet, the organisation recognised that it would need to change its way of working. AiM was brought in to identify, prioritise and shape the key areas of strategic change that were required. The findings of this exercise were that the organisation was suffering significant operational inefficiencies and waste through broken processes, inconsistent manual methods and the absence of a single unified work management system. Consequently, there was a lack of effective collaboration, an absence of operational visibility and very limited easily obtainable dashboards/reports to manage operations in real time. We built a compelling operational transformation business case supporting a 15% productivity gain across the operations teams and a payback period of 12-18 months. Solution Business transformation was initiated, bringing together core AiM capabilities in programme delivery, business process re-engineering, dataEstate® software tools, culture and people change. Work management improvement was a priority, leveraging benefits through optimisation of productivity, removal of operational process silos, convergence to common ways of best practice working and significantly improved automation and artificial intelligence (AI) for straight through processing (STP). A target operating model (TOM) was designed which had a new work management IT system (AiM’s dataChain®) as a key enabler. The system would provide a single platform where all work would be logged whatever its origins, as well as promoting STP through inbound and outbound integrations. These included intelligent scanning (letters, microfiche), email import, social network-based requests, phone call import, user portal and electronic document management (AiM’s dataTrove®). Data cleansing was also undertaken as a pre-requisite, through the use of AiM’s dataBelt® to ensure the compliance and integrity of data and to radically improve the pensioner payroll process. Other features included an auto- scheduled diary to make sure time-dependent tasks were not missed, automated communications, a portal for members, a risk assessment/CAPA module and a training module. Integration of the work management system at the database level with other systems meant that dataChain® could interface with any current legacy system as well as future proofing the organisation for future choices. An agile approach was used to configure the systems reducing the specification, design and implementation time by an estimated 45% over traditional methods. Outcome and Payback Following an 8-month implementation, before and after measures of process key performance indicators (KPIs) were compared which showed that productivity had in fact achieved an 18-20% increase and for the member helpdesk it was greater than 50%. And productivity should eventually be higher as processes and systems fully optimise over time. These and other key benefits, such as real-time reporting, have led to a better, quicker and far more accurate service for members, with greater visibility, compliance, security and data protection/GDPR than ever before. As well as a reduction in operating costs of more than £1m per year. Comments from the organisation’s leadership team included: “…an excellent piece of delivery…” “…a huge step forward for us…” “…a standard bearer for all other innovations and improvements…”. The transformation achieved is increasingly seen in the organisation as a benchmark of how to deliver other business change programmes in the future.