Digital factory: Scaling up innovation

Eurobank Group, consisting of Eurobank SA and its subsidiaries, is a robust financial organization with total assets exceeding €70 billion and just over 11,000 employees in six countries. The Group develops sophisticated, well-rounded financial products and services that are focused on the needs and choices of individuals and businesses.

Eurobank has the vision of becoming the most technology-enabled, data-driven financial institution in Greece and Southeastern Europe. To achieve this along with its other goals—keeping pace with rising customer expectations, growing market share, reducing time to market and improving agility—it embarked on a large-scale digital transformation program. 

To this end, Eurobank needed to re-engineer its entire IT architecture and create a new, omnichannel customer journey.

Eurobank decided to create a digital factory to drive the redesign of its customer experience and digital channels. This factory would have the mindset of a start-up, an openness to experimenting with new ideas and technologies, and the ability to produce rapid delivery cycles. Accenture worked closely with the bank to provide end-to-end services for the digital factory.

Scaled Agile methodologies enabled the bank to speed up delivery via small, cross-functional teams made up of Eurobank and Accenture people. The digital factory has led the redesign of Eurobank’s technology architecture and the construction of a technology platform to support consistent omnichannel customer experiences.

The digital factory and the subsequent steps taken towards digital transformation have positioned Eurobank as one of the most innovative banks in its region. It has successfully shifted to cloud-based microservices and to a seamless omnichannel environment.

Eurobank has sliced the average time to market for new functionality to eight weeks and the release cycle to two weeks. A revamped mobile app and e-banking services have helped to distinguish the bank in its markets. Other digital innovations include digital onboarding, smart financial management tools, contactless payments and innovative mechanisms for securing electronic transactions.