The structure of the banking and financial services industry requires strict and organized processes for managing data and records. It is crucial for these services to provide strong documentation of assets in a timely and efficient manner to business partners and individual bank customers.
Too often, banks and financial firms are delayed in providing accurate and updated records due to outdated business solutions. With the help of Appian, a large commercial bank is taking action to improved data and process management using an enterprise BPM platform.
BayernLB, one of the largest banks in Germany, has deployed its first process application with Appian, which will utilize Appian's worksocial capabilities. The deployment combines unique work automation and social collaboration innovation to improve BayernLB's vendor management process for procurement. BayernLB plans to extend its use of the Appian platform for additional core banking processes, as well as for application consolidation, in subsequent deployments.
Despite being a leading German commercial bank, BayernLB faced challenges with its current business processes. Its systems for vendor management were largely paper- and email-based, which led to a large internal effort to manage strict governance and compliance regulations. Appian's BPM Suite allows BayernLB to meet a number of governance regulations in a more efficient and user-friendly way, while immensely reducing the volume of paperwork, as well as lag-time created by compiling such paperwork.
Just as important as implementing a business solution to manage procurement, the worksocial component of the platform will help improve BayernLB's response time to regulatory issues. A modern social business interface allows employees to collaborate in a more strategic and effective manner when industry specific issues arise. BayernLB will be able to consistently address client expectations and meet deliverables without delays from an outdated, multi-source system. Implementing a single solution that combines business functionality with improved social collaboration will be key factors in helping BayernLB achieve its core business objectives.
To learn more about how the financial services industry is being transformed with business process management and to see which organizations have adopted business solutions with Appian, download our financial services whitepaper.
Media Relations Manager
Appian helps organizations build apps and workflows rapidly, with a low-code automation platform. Combining people, technologies, and data in a single workflow, Appian can help companies maximize their resources and improve business results. Many of the world’s largest organizations use Appian applications to improve customer experience, achieve operational excellence, and simplify global risk management and compliance.