Hong Leg Investment Bank Berhad Case Study

1414 Words 6 Pages
The first problem is the workforce of the future as the bank dealing with the change and millennial challenge. The advances in technology and stiffer banking regulation has led to increase transparency. Banks are now looking for new ways to deliver value to clients and create a new competitive edge. The nature of the work of the bank is changing in the search for differentiation and drive to digitize the industry’s value chain, along with the skills required to deliver those services. As the banks assess their evolving role and the core skills of their employees, they must also consider broader problems about their workforce. Most banks currently rely on a quickly aging group that will turn over within a few years and needs to be replaced with …show more content…
Other than that, there are more can be done to solve the cost reduction, such as adopt a factory approach to legacy application retirement, or embrace utilities. Hong Leong Investment Bank Berhad should shift their focus from process optimization to outcomes. Besides, I suggest that implement technologies like robotic process automation for routine tasks, such as reconciliations, or they can adopt techniques that have been used successfully in other industries, including the zero-based budgeting. They also can use cost saving to fuel the growth. Hong Leong Investment Bank Berhad need to design transformation programs based on sustainable operating models that promote efficiency and cost savings in order to achieve a profitable end estate. Simultaneously, they must scrutinize their business models to design growth strategies that focus attention where they can and want to be profitable and …show more content…
A factory model can help organizations centralize services in a cost-effective and controlled way. Factory functions typically include a technical analysis of applications, cloud migration, deactivation of production services and retention of business records. A factory can also serve as a central point for cataloguing systems and tracking decommissioning progress. This investment bank may find it valuable to establish a different operating model for legacy applications. A run-to-kill approach involves managing legacy applications so that they are resilient and fit for business, while emphasizing cost-effectiveness and constraining system changes. Run-to-kill operations can also be outsourced to lower-cost application maintenance and support vendors, freeing up skilled and experienced staff for work on greenfield

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