Category: Excellence in Banking and Financial Services

TIAA-CREF nominated by IBM

Situation
  • Business mandated higher ROI
  • Disparate content, data and processes
  • Multiple legacy workflow systems that entail to be retired
  • Client information was incomplete and often not collaborated
  • Lack of visibility/transparency into back-end processes
  • Inability to effectively collaborate across isolated departments
  • Manual processes and absence of systematic controls exposed operational risk and difficulty in enforcing compliance
Implementation & Innovation
  • Adaptive case templates provides TIAA with a platform to rollout new processes
  • Developed case processing integration framework to ease up the handshakes with partner applications
  • Externalized all of our business rules into a Rules Engine provided us channel consistent processing experience and quick/easy maintenance
  • Cross-team/departmental collaboration
  • Tracking system activities/events being performed in external applications
Benefits
  • Speed and efficiency in processing distributions/withdrawals with shorter turnaround times greatly enhanced our client experience;
  • Cross department collaboration and visibility on the case assets for Case Workers increased their competency levels and empowered them to take quicker and better-informed decisions optimizing outcomes;
  • Implementation of process controls and audit trails satisfied our regulatory requirements;
  • 360-degree view and case analytics empowered our management to monitor work promoting optimized outcomes and identifying cross/up-sell opportunities.
Technology
  • IBM Advanced Case Manager
  • Oracle Fusion BPM
  • IBM Master Data Management
  • IBM Rules Engine