Wednesday, September 10, 2014

Lean Methodology in Portal Market:

Lean methodology in Portal Market:

As I was doing my research on this week’s topic “Lean Methodology” and how it can help any organization if implemented successfully, I found some info about an interesting company called “Backbase” who have implemented lean methodologies successfully to create a product, called “Backbase Portal – Lean Portal”, and a market for itself in this ever-evolving and competent world.

‘Going lean’ means using the resources at every development phase in a best efficient way possible.

Currently in the financial industry, lot of banks and firms are facing lot of problems such as:

  • In last several years, financial companies have built too many websites and applications, most of them with ‘one size fits all’ approach resulting in unwanted complexity.
  • E-Business executives today want to provide their customers with intriguing digital experience. But most of them struggle to do so as they cannot keep up with the evolution of Web 2.0 world and incessant changes in mobile revolution.
  • Lack of unified Banking dashboard with direct access to their legacy back-end systems

To summarize these problems, banks and firms need to provide a solid user experience to their end customers via their enterprise portal.

Backbase is currently helping such banks and firms by providing their product “Backbase Portal”
“Backbase Portal” acts as a customer experience layer which is placed over the existing systems of their clients. End customers of banks can access this user-friendly portal to perform their core banking activities. Using Lean Methodology has enabled their product to stand out and to stay ahead of their competition. One example of them going lean is moving from Portlet based Portal development to Widget based Portal Development.

Following is the success story from one of their clients. (There are many more!)

Ø  ABN Amro                                                                                                                                                                                    
                ABN Amro is one of the top 3 banks in Netherlands with more than 6 million customers, 900 billion in assets and 30,000 employees.

  • Business Problem:                                                                                                                        
ABN AMRO has a long history in banking and all the mergers, acquisitions and similar changes, left them with a huge array of legacy systems, which were responsible for their core banking operations such as transactions, bill pay, ERP and CRM systems. This complicated back-end setup made it difficult for them to provide a seamless customer journey. ABN AMRO needed a portal which can help them on business as well as customer level. They wanted to put digital marketing team in charge to manage the platform and run campaigns within the secure internet banking environment without the involvement of IT department.

  • Results on implementing Backbase Portal
  • Seamless transition between AMN Amro’s open and closed sites.
  • Digital Marketing and business teams now capable to manage the portal and target relevant information to specific customers without involving IT people.
  • Unified banking dashboard that facilitated seamless and direct access to various back-end systems, cross-device capability, customizations and personalization tools, functionality to build Omni-channel experience.

According to InsideView Source, Backbase, Inc US, had revenue of $11 mil in 2013 and had 100 employees. Backbase is a private company and hence exact figures cannot be determined.

It is remarkable that a single product based company has managed to generate revenue of $11 mil. Garter has mentioned them as visionary in Magic Quadrant.

Lot of companies are now moving to Lean Portal to enhance the customer experience. Lean methodologies in software development can have a huge impact on the market. What do you think?

References


                                                                               

2 comments:

  1. Really ,This is a wonderful post. I enjoyed the information lot. I will bookmark this page. Thanks for sharing this important information. Corporate Movie || Corporate Video Production || Ad Films Maker || Training Films

    ReplyDelete
  2. Wow! Great post! The content is very rich, and I really like it. It help me very much to solve some problems. It is very helpful for all the people on the web. Thanks a lot. Ecommerce Product Photography || Ecommerce Product Photoshoot || Products Catalogue

    ReplyDelete

Note: Only a member of this blog may post a comment.