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
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