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Process mining with Celonis for banking

Your ‘compass for the digital transformation’

Process mining with Celonis deals with the analysis of business processes and uses its algorithms to reconstruct these processes automatically end to end on the basis of what are known as footprints (see below): transaction data from all the relevant systems with case ID, processing date and the process activity performed.

This provides an intuitive and flexible way of visualising processes and KPIs as well as identifying and eliminating inefficient and non-conforming deviations.

The ‘footprints’ are

  • Process data from ERP systems such as SAP and Navision, CRM systems such as Microsoft Dynamics or Salesforce, service management systems such as Atlassian Jira or ServiceNow or collaboration systems such as Microsoft SharePoint or Atlassian Confluence.
  • Other log files from finance apps as well as all other customer-specific systems.

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Switzerland’s fifth-largest financial institution optimises the customer journey with Celonis Process Mining

(Source: Celonis; Process Mining Story PostFinance: Optimizing the Customer Journey in Banking; YouTube; 2018)

PostFinance analysed and optimised their business processes, especially those relating to account opening, credit decisions/processing and SAP-based purchasing.

  • 100,000 to 200,000 account openings had to be analysed throughout the year → with the aim of processing these in the same highly efficient manner in future. However, these could only be processed with Celonis due to the volume.
  • Genuine, real-life processes should be visualised intuitively and transparently → to identify which of the variants are unwanted and ultimately reduce them significantly to the ideal target processes.
  • Internal benchmarking compared the back office at various locations → with the focus on efficiency and speed, and then standardised and optimised processes by transferring best practices.
  • To improve the customer experience, neuralgic points had to be identified → to optimise the customer interaction.
  • Results of the detailed process analysis secured the decision for the PF app → to replace the many forms involved in account opening in a short interaction via a simplified dialog with this app.
  • Well-known potential for cost savings should be leveraged → for example, this was recognised in the credit application approval process in the back office.
Credit Application Analysis

Conclusion: The processes are now fabulous and well optimized (Peter Lacher, COO 2018, PostFinance)

Celonis Path to Value and the Intelligent Business Cloud tools

The Celonis Path To Value
  • is a continuous optimisation approach,
  • which factors in strategic business objectives,
  • tackles concrete problems in a data-driven manner and
  • systematically identifies measurable and assessable potential for improvement.
celonis path to value
celonis path to value komplett

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The following Intelligent Business Cloud tools are used:
Celonis IBC Applications

Celonis Process Analytics

A tool for the Celonis analyst to design drill-down cockpits that can be filtered with tables, diagrams and charts, as well as variant, process and case-explorers specifically for customer needs. Reconstruction and visualisation of real processes from footprints (timestamp, case ID, process activity).

Celonis Action Engine

Specific skills are used to display process issues continuously at case level (signal) and forward them to the correct processor for resolution (action) via selectable communication channels (routing). If necessary, a workflow is triggered directly.

Celonis Workflows

The extended arm of the Action Engine allows users to trigger automated actions directly in the respective target system. This also includes the control of RPA or bots.

Celonis Transformation Center

KPIs for the respective business objectives and the performance of the associated processes are monitored centrally here. There is the possibility for drill down, reporting and task management. There is even a presentation of the company’s success stories.

Celonis App Store

The App Store contains a collection of process knowledge and best practices. These include both ready-made data connectors with the corresponding data model and ready-to-use analysis, which support dedicated business use cases. Predefined skills for the Action Engine are also provided here, as well as business objectives for the Transformation Center. These features are bundled in the so-called apps, which are continuously developed, not least to factor in customer feedback.

Celonis Event Collection

Provides out-of-the-box data connectors to many standard systems. Open APIs can be used to connect any customer-specific system. Data can be continuously extracted and transformed according to requirements. The footprints in particular are collected and processed.

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Successfully implementing the digital transformation with process mining

Due to the high rate of innovation, digital transformation often brings with it disruptive changes and major challenges to processes:

New processes in digital retail banking
  • Digital onboarding and self-services in digital banking are not simply the digitalisation of the previous paper processes, but offer the customer a new and interactive user experience with other processes and an immediate sense of achievement.
  • New tools and procedures, such as video identification and authorising the customer to initiate and complete their banking transactions directly themselves, shift the action from the back office (inside-out) to the customer themselves (outside-in) when and where they choose (ubiquitous computing).

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New processes in open banking (corporate clients)
  • The internal processes in a bank are reduced to the respective core business of the institution, services provided by partners and specialists are seamlessly integrated without the SME experiencing media disruptions.
  • Rapid, transparent and traceable end-to-end linking of processes ensures a sense of achievement and a positive customer experience. Digitisation and automation are protected against disruption and errors in the process.
neue prozesse

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Contribution of the Celonis Path To Value

  • With Celonis, the footprints of all systems, whether app, front office or back office, can be recorded and displayed uniformly across all processes and channels.
  • Changes to and successes of these can be tracked on a daily basis.
  • This is the only way to make fast, fact-based decisions.

Outlook / future potential

The following tasks and questions are also relevant for the future of digital banking:

  • Automation of manual work by RPA.
  • Customer journey comparison of different personas/customer segments/products.
  • Process conformance/benchmarking/explorative approach for improvement.
  • Reduction in working capital for corporate clients.
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