If you have already looked for a new place to live, you may have met these two types of houses: the one that the owner has repainted so many times that the windows are barely open, and the one that always smells of the new carpet.
It is unlikely that this is what the leaders of a World Bank over 100 years old thought when they decided to extend their offers in digital services, but it East They probably sorted similar considerations: Building over the inherited infrastructure, or creating something from New-New?
Bankers wanted, in particular, to offer their customers a retail banking experience for mobile devices. They had managed to deploy the product in Europe and now wanted to bring this solution tested to their branches in other countries. Thought took place like this: if they started with a mature and complete regulatory environment like the United States, they would be well prepared to manage regulatory challenges in Latin America and beyond.
It seems quite simple. But to do this, the bank managers should put on a needle – give their American customers the simple and useful mobile experience that they were waiting for that, at the rear, to navigate this stuff of requirements.
Requirements such as those established by the Federal Reserve, Securities and Exchange Commission (SEC), the office of the currency controller (OCC) and the financial protection office of consumers (CFPB).
Requirements, such as respect for the Dodd-Frank law, the Bank Secrecy Act and the Gramm-Leach-Leach Act, which presumed an in-depth understanding of the confidentiality and the location of data, anti-flow (AML) and consumer protection regulations, as well as technical considerations such as robust cybersecurity measures to manage and protect data sensitive financial.
(But wait! A foreign solution developing in new markets, there were also more considerations of garden variety, such as support for several languages and the adaptation of the product to local market practices and customer expectations, including the possibility of downloading the offer as a mobile or via a browser link.)
Complicated? You bet. And faced with this, banking leaders have made a daring choice: choosing to build their digital solution on a net and native Cloud platform-which they would build and first launch in the United States, then take place in other territories.
It was a daring choice because what the bankers avoided in the headaches of the inherited technology in progress, they were in front of a digital transformation. The choice meant significant challenges and layers of complexity which could together make deployment both at high intensity of resources and to take time.
So, confident that they were on the way they had chosen, the leaders were just as confident as they need help to do everything. And not only in a field (such as technology), but several (such as strategy, policy and compliance too). To make their vision a reality – and a thread this needle – they called Deloitte.