Over the past decade, the Greek national debt crisis has caused tremendous turbulence for the country’s financial services institutions. During that period Piraeus Bank has made a series of strategic acquisitions and mergers aiming to establish a strong presence in the domestic market, enhancing a track record of more than 20 M&As in last 20 years and assuming a leadership role in Greece’s economic recovery.
To help lead the country back to financial strength, Piraeus Bank must combine strict operational efficiency with a focus on innovation. As a result of the spate of acquisitions, the organization’s underlying IT infrastructure was too siloed and rigid to support either of those two goals. Piraeus Bank’s IT leadership wanted to unify critical business functions on a centralized platform that could provide structure and transparency, support collaboration and flexibility to accelerate business and innovate how work gets done, and leverage existing IT assets, and the data they contain, to avoid costly “rip-and-replace” measures.
Piraeus Bank selected the Appian Platform to meet its innovation and efficiency goals. To-date, the organization has deployed 14 applications to more than 6,500 active users across the business to drive core activities and key initiatives. These applications cover core areas such as Customer Questions and Complaints, Customer Protection, Green Banking, Cash Transfer, Merchant Acquisition, Legal Order Management and more. By equipping the bank’s employees with comprehensive access to the data, processes, collaborations, reports and dashboards needed to optimize how work gets done across the organization, Appian has delivered substantial business value. The bank now has the total visibility needed to optimize and enforce the Service Level Agreements that ultimately control the quality of work produced. Through Business Activity Monitoring, the bank now collects granular data around Key Performance Indicators such as tasks completion times, end-to-end process cycles times, re-work requirements and a dozen other areas. This data is fed back into Appian to drive a continuous improvement loop. Appian also rolls up this granular data into Executive Management Reports that show bank leadership how the bank is performing overall.