One of the primary functions of the Central Bank in its supervisory role is to monitor the operation of financial institutions and markets, to ensure fair competition and consumer protection interests.
This supervisory activity requires diverse and complex processes, procedures and methods, as well as the integrated cooperation of a great deal of participants. An integrated process operation support tool can help to meet these requirements — one that not only effectively connects each area, but also helps to share accumulated knowledge.
The challenge
The project goal was to create and introduce a professional, stable system. The solution had to be customisable, proven in both governmental and banking environments, and capable of accommodating future legal, market, and organisational changes without requiring supplier intervention or specialist development skills.
The priorities within process digitisation were to collect and present data from regulated institutions, to unify the necessary registers, to support the preparation of business documentation, to ensure the transparency of supervisory work and the flexibility of future system development.
Problems and solutions
Continuous process change in a live environment. In a business environment where processes are changing continuously, the organisation struggled to deploy those changes into its systems. Our solution: up-to-date recording and maintenance of previously assessed business processes.
Lack of standardised documentation. Procedural similarities across institutions do not necessarily mean identical operation in practice. The absence of documented Business Process Reviews meant this had to be done in parallel with IT system introduction. Our solution: unification of processes, supported by a dedicated parallel project.
Resistance to digitisation. Contradiction between paper-based procedures and digitisation, lack of common ground, difficult start to the survey process, slow awareness, multi-round and lengthy training sessions. Our solution: detailed presentation of the process support framework, workshop methodology, sample processes, and familiarisation with the new system through joint testing.
Parallel survey streams. Parallel surveys produced parallel solutions with uncalculated time for standardising and accepting them. Our solution: repetitive, summarising, unifying workshops to align divergent streams.
Pressure on key users in a large organisation. Significant responsibilities, operational work peaks and personnel fluctuation created pressure on key users. Our solution: early involvement of key users during project planning, with continuous measurement and reinforcement of commitment throughout.