Cecabank
Cecabank is the heir to the Confederation of Savings Banks, founded in 1928.
The challenge
Cecabank is the heir to the Confederation of Savings Banks, founded in 1928. Originally, these savings banks had a social as well as a financial function.
During the financial crisis of 2008, the restructuring of the Spanish banking sector reduced the number of institutions from 45 to only 6 financial institutions and 2 savings banks in 2021. This change highlighted the need to adapt and modernize. Since then, Cecabank has established itself as a bank offering wholesale services to various financial institutions.
Cecabank's systems were legacy, outdated and difficult to maintain. These systems were heterogeneous and highly atomized, making them difficult to use and inefficient. With a clientele consisting mainly of financial institutions, there was a need for a more modern, efficient and secure system.
The solution
To carry out this transformation, Cecabank chose Hyland's Alfresco platform because of its process management capabilities. The implementation began in 2020 with a pilot of a financial transaction approval process, which had previously been paper-based. This initial process was designed and migrated to Alfresco's digital platform, which proved to be a very wise decision.
It started with simple processes and implemented them in stages. This resulted in Rocket, Cecabank's process portal. Throughout the process, Alfresco adapted to all their specific needs, making the platform easy to use and solving the previous problem of labyrinthine applications.
Reusable nodes and custom configurations were implemented, as well as mechanisms to measure and analyze processes in real time. In addition, Rocket was connected to a platform of data analysis tools such as Power BI for more effective use of information. The team's efforts to train employees and minimize resistance to change are noteworthy.
The advantages
Employees can access documents and processes from a single point, making their work easier and improving operational efficiency.
Features include node customization, management and permissions, and integration with external data models. For example, one node, the visibility configuration node, allows us to easily manage the permissions that users have over their data processes and documents.
Managing processes such as Christmas basket requests, formalizing supplier contracts, mortgage loan issues and audits have become easy to manage thanks to Rocket. The quality survey conducted in 2023 revealed an exceptional approval rate, reflecting the satisfaction of users with the new platform.
Future goals
Cecabank has several key objectives for 2024:
- Become an enterprise platform:
Consolidate Rocket as the corporate document manager, integrating documents from legacy systems and new core business processes.
- Migrate to the cloud:
Migrating to AWS will allow Cecabank to take advantage of the scalability, new functionalities and artificial intelligence that cloud computing offers.
By taking these steps, Cecabank is not only modernizing technologically, but also building a solid foundation for future innovation and improvement in its financial services.