Efficiency View Industry: Interview Philipp Perego
Organization. Conception. Implementation
The automotive industry is often cited as a role model for the banking industry. Does that make sense?
In principle, yes, but then banks still have a long way to go. Tesla is currently demonstrating how to conquer a premium segment with highly standardized processes and products - the example also shows what disruptive approaches, such as the switch to electricity, mean and that investments must first be made in order to perhaps reap rewards.
And the fear of the much-cited loss of know-how?
Let's stay with the automotive industry: premium manufacturers sometimes cover less than twenty percent of value creation themselves, so the vast majority is handled via sourcing. Would anyone think of accusing these manufacturers of a lack of expertise in car manufacturing? That's just a question of organization, very focused design and consistent implementation of core competencies.
IT is a major cost block. Do you see potential for cost savings?
The cost of IT is not a problem if this operating resource is used efficiently, thereby increasing the cost efficiency of the entire organization and generating additional revenue thanks to IT. On the other hand, I see a lot of potential for cost reductions. Today, there is no reason to use and operate core banking solutions differently in terms of technology and organization. One explanation is that the structures have grown historically, the pressure to suffer is too small to establish standards, and many potential economies of scale can be realized.
What characterizes a digital bank?
It is the openness to try something new; to venture investments without a secure business case; to enter into cooperations and alliances; to put customers at the center of customer processes, not bank processes. Banks are still too often fixated on channels. Whether counter, mobile or e-banking: the customer will choose those channels that optimally cover his needs and thus generate benefits.
Is digitization the panacea for increasing efficiency?
No. Digitization makes business more complex and initially more expensive. But banks have no choice, because digitization will play an increasingly important role. Nor is it a matter of digitizing what can be digitized. What's more: digitizing processes end-to-end is not efficient if decision-making structures and control mechanisms remain complex - the processes must also be optimized. The virtue of the hour is to focus and use the available resources in a targeted manner. It is a matter of skillfully shaping the path to its digitization - that is a central strategic task.
*(This interview is part of our Finstar Space magazine).
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