Stephen Marjot, Head of Change Centre of Excellence (CoE) at NatWest, had his aha! moment when trying to take out a loan—which he recounts with great hilarity during his live presentation at Appian Europe, held November 15-16, 2022 in London. At NatWest, he didn’t want his customers to have to jump through the same hoops he did or be turned down due to lack of data.
NatWest: How to Reduce Governance by an Order of Magnitude by Shifting Mindsets to a Customer Journey Approach
Marjot noted that customers can enter a few questions on a mobile app and get approved for a loan. Yet, in some cases, their governance workflows, comprising 17 processes in an inefficient, 73-day governance cycle, do not provide the same positive customer experience. His ambitious goal: To reduce the governance cycle of 73 days to 73 minutes.
Marjot found that 43% of data for their governance processes could be automated, 57% of which could be optimized. Using the Appian low-code platform for process automation, NatWest is advancing toward Marjot’s vision of an automated governance workflow. Appian’s flexible data fabric pulls in the right data and rules when they need them.
While not quite at straight-through processing (STP), NatWest is heading in the right direction. For example, Marjot reports that “teams have been able to evidence a higher level of risk management as a consequence of automation and they are able to do that faster. Activity that used to take weeks, now takes an hour,” he explained.
Read the NatWest case study to see how they are using Appian to accelerate their digital transformation and improve the customer experience.