SCB partnered with Accenture to develop and deliver an award-winning digital transformation strategy. The approach combined advanced data and analytics capabilities with people-focused processes and tools.
The first step was shoring up the data lake—migrating the bank's foundational data repository to Microsoft Azure Cloud, making SCB the first bank in the region to achieve this milestone.
The team also made data and analytics easier to access and use by deploying Microsoft Power BI to create interactive dashboards for several business areas. To improve ATM cash management, the team used artificial intelligence and a combination of advanced machine learning techniques to analyze more than 12 million transactional data points and more than 200 variables—such as locations, pay days, seasons and holidays—to determine optimal cash levels for each ATM.
Creating a data-driven culture takes more than just new technologies and analytics. It requires data governance and change management to help employees adapt to new ways of working. Creating a Data Governance Office, an Analytics Center of Excellence and a bank-wide data stewardship program helped implement clear guidelines for effective and secure use of data and analytics.
Now, marketers can access insights from this data on interactive Power BI dashboards to identify and craft personalized marketing messages for prospects based on their lifestyles, interests and financial needs. Also, automated underwriting risk tools reduce time to process loan applications.