TECHNOLOGY VISION FOR BANKING

Liquid Workforce: Bank on “fluid” teams focused on results

Banks need the right digital technology to build flexibility into their workforces.

Overview

Trend 3: Liquid Workforce

Seventy-four percent of bank executives believe that a more “fluid” workforce would improve their innovation. For banks to change faster, operate more quickly, make smarter decisions, stay relevant to customers, outdo competitors and stay on pace with new technologies and regulation, they need a nimble, or liquid, workforce.

A liquid workforce is no longer “internal” versus “external.” It includes fixed versus variable, as well as new, innovative workforce constructs like crowdsourcing and labor on demand.

Banks can harness new technology to begin or progress their workforce transformation, by creating first a new workforce strategy for enabling the right people to do the right things.

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74% of bank executives believe that a more “fluid” workforce would improve their innovation

“Fluid” teams focused on results

Creating a liquid workforce requires the right digital technology to build flexibility into three key workforce areas: skills, projects and the organization. Forward-thinking banks will go further to organize their workforces around business outcomes and business services.

Imagine customers want to have a unified view of their financial picture regardless of where or with whom their accounts and assets may reside. Satisfying this need as a service or a product is the desired outcome.

Banks would then structure a service around that outcome to reflect:

The value for the customer.

The investment the bank is willing to commit to it.

The knowledge and skills needed to deliver and sustain it.

The best-fit delivery approach with “multi-speed” delivery methods, tools and techniques.

Read more about liquid workforces in banking by downloading the full report.

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