The Problem
Access Bank wanted to improve the way it communicated in international markets. The bank’s previous workflow software vendor did not allow the executive suite to interact with the workflow process as fully as they required. This created cross- collaboration inefficiency, resulting in slower response times for customers. Access Bank had its sights on expanding its reach in the international and African markets. If the bank was going to streamline its various processes by going digital, it needed to adopt technology that could accommodate multiple departmental needs. Account opening was not yet omnipresent in its digital experience, meaning that the previous BPM solution was unable to service a myriad of channels at the same time. Furthermore, a lack of intelligent workflow software made it difficult to keep up with new compliance changes. Many of these regulation changes include FACTA, global KYC, AML, IFRS9, Basel III, and others as a result of the global financial crisis.
