Name: Put a premium on legacy modernization
Start: 2024-07-30T17:00:00Z
End: 2024-07-30T17:00:36.000Z
Location: BrightTALK
Rating: 0

The evolution of problem solving. For over 170 years, PwC has been helping clients like you solve the world's most important problems. Today, our products are designed, developed and supported to help you lead the next phase of your evolution. 

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The banking industry is undergoing a significant transformation, driven by the need to enhance the customer experience, improve operational efficiency and comply with evolving regulations.

But a variety of reasons deter many banks from modernizing. For example, legacy core systems play a critical role in daily operations, and knowing where to start on a modernization journey can seem complex and overwhelming. Fortunately, recent technology advancements have expanded the options available to banks for modernization. Learn what leaders are doing to make strides modernizing amid a tumultuous market.

Join Lane Martin, Principal, Head of Payments, PwC; Dean Nicolacakis, Digital Banking Principal, PwC; Aloke Agarwal, Director, Product Owner of Industry Cloud for Banking, PwC; and Emily Steele, President and COO, Savana, as they address the 4 primary elements critical in today’s modernization landscape:

· Delivery excellence
· Core system reliance
· Operational effectiveness and efficiency
· Cutting edge technologies

Register now to secure your place and help accelerate your bank’s modernization journey.

Charting Your Path: A Roadmap for Banking Modernization

Payments modernization represents a significant shift in the way banks and financial institutions handle transactions, moving from traditional, often manual processes to more streamlined, digital, and automated systems. This is not just a matter of keeping up with technological advancements; it is a strategic imperative for banks and financial institutions aiming to stay relevant, competitive, and compliant in the rapidly evolving financial landscape. 

This shift is crucial for four main reasons:

 •           Enhanced Customer Experience: Modern payment systems meet customer expectations for fast, reliable, and convenient transactions,  helping to improve satisfaction and loyalty in the digital banking era.

 •            Increased Efficiency and Reduced Costs: Automating payment processes reduces manual effort, speeds up transactions, minimizes errors, and lowers costs for financial institutions, resulting in substantial savings over time. .

 •            Competitive Advantage: Institutions embracing payments modernization differentiate themselves by offering innovative, efficient, and secure banking options, attracting and retaining customers, especially younger ones who prefer digital-first experiences.

 •             Enabling New Business Models and Services: A modern payment infrastructure empowers banks and financial institutions to innovate and create new financial products and services, such as real-time payments and blockchain-based transactions. This enables institutions to stay ahead of technological trends and meet emerging customer needs.

Join Lane Martin, PwC Head of Payments Principal, Tanvi Patel, Digital Payments Principal, and Aloke Agarwal, Director at PwC and Industry Cloud Product Owner to learn how PwC collaborated with leading payment vendors and created tools that can address your needs while enhancing your customers’ experience.

Your implementation strategy for payments modernization with Industry Cloud

Pricing can be the key lever to enabling corporate strategy and unlocking higher profit levels, but many companies have under-invested in pricing capabilities to address market headwinds and common pricing challenges. This can lead to unrealized prices, revenue leakage, uncaptured value from offerings, and self-inflicted operational wounds.

Leveraging analytics to increase price and margin realization

Now more than ever there’s an urgency around important business decisions. That means confirming you’re getting everything you need from your accounting function as you scale and grow your business. Look beyond the numbers and help maximize back-office value by looking at your technology, processes, and people as pillars to stand on when faced with change. By embracing the cloud, optimizing processes, and hiring the right mix of skilled individuals, businesses can position themselves for growth.

Preparing for change: Elevating back-office efficiency with emerging technology

Core technology modernization in banks and financial institutions is a pivotal strategy that goes beyond improving operational efficiencies—it's a fundamental reimagining of how these institutions can serve their customers, innovate, and manage risks in a digital age.

The benefits of such modernization efforts are vast, touching upon every aspect of the banking experience, from the backend processes to the customer interface. Some of the key benefits are:

● Deepening customer relations by providing personalized banking experiences, offering customers products and services tailored to their specific needs and financial behaviors.

● Digital activation through modern core technologies enables banks to quickly deploy digital solutions, integrate with digital ecosystems, and offer digital-first banking solutions, meeting the needs of a digitally savvy customer base and enhancing the overall digital banking experience.

● A flexible and scalable core infrastructure enables rapid innovation in banking, allowing for the development of new products and services without legacy system limitations. 

● Reducing Risk by upgrading to modern core systems enhances security, improves compliance, and ensures operational resilience, protecting sensitive financial information, maintaining customer trust, staying compliant with evolving regulations, and minimizing downtime during disruptions

Join Justin O’Connor, PwC Digital Banking Principal, Dean Nicholakis, PwC Digital Banking Principal, and Aloke Agarwal, Director at PwC and Industry Cloud Banking product owner, as they discuss how core technology modernization is not just an operational upgrade for banks and financial institutions; it's a strategic move towards creating a more customer-centric, innovative, and secure banking environment.

Benefits of banking modernization with Industry Cloud for Banking

Modernizing core banking systems is a critical initiative for banks to stay competitive and meet their customers' evolving needs.

Next-generation core banking platforms enable a new way forward. Modern core banking platforms enable real innovation by reducing cost and time-to-market. They help break down technological constraints, enabling banks to evolve more quickly and accelerate their development of new client offerings.

Join Justin O’Connor, PwC Digital Banking Principal, and Aloke Agarwal, Director at PwC and Industry Cloud Banking Product Owner, to learn:

• The changing trends banks are seeing with core modernization, and the key challenges they face with legacy cores
• How strong alliances can help alleviate banking-specific functionality issues
• How PwC’s Industry Cloud for Banking solutions can help banks transform their core banking systems, creating a better experience for their customers

In this webcast, we'll examine how banks can navigate the challenges of modernizing legacy systems, while mitigating vendor risk and operational complexity. We'll discuss how banks can leverage the best of modern cloud-native platforms and bring new features to the market in weeks vs months.

Core banking modernization strategies with Industry Cloud

“Are we recruiting and retaining the right people?” 
“Are we efficient?” 
“Do we really need to add headcount?” 

Whether you are fielding tough questions like these or justifying a request for funding/resources, data is an effective tool for getting what you want - but only if you use it wisely. 

In this session, we’ll share pointers shared by HR leaders on how to effectively guide executive decisions with workforce data through four simple steps: 
1) Calculating Metrics
2) Comparing to Others 
3) Providing Context
4) Setting Reasonable Goals

You’ll learn how to tell a story about your current situation, teach your audience just enough to properly evaluate your data, and set the stage for a reasonable outcome.

Four Steps to Successful Workforce Decisions

According to a recent IDC study, the adoption of industry clouds is spiking fast. Their rapid growth is fueled by their ability to combat business volatility and shorten the path to value for cloud transformation initiatives. With the usage of industry clouds more than doubling from 2021 to 2023, benchmarks of successful transformation are starting to emerge across industries. (1)

Join guest speaker Nadia Ballard, Research Manager, Industry Clouds, Solutions and Verticalization Strategies at IDC and Sumit Abilius, Consulting Solutions Director, Cloud and Digital at PwC to learn more about the three emerging indicators of a successful industry cloud transformation, including:

- The preparation needed to address the challenges brought on by industry cloud, such as difficult implementation and integration
- The importance of partnerships and the capabilities and components they can provide to generate value for the end user
- How strong ecosystems and individuals within these ecosystems, contribute to the breadth of business outcomes that can be achieved

The benefits of industry cloud are clear: built-in regulatory compliance and access to the latest technology tools, to name a few. But achieving value and better customer journeys requires the right preparation, ecosystems and partners to support your cloud transformation. In this webcast, we’ll examine what makes an industry cloud successful and take a look at how PwC is helping its clients focus on their customer journeys, not the underlying tech.

(1) IDC InfoBrief, “Industry Clouds Help Drive Resilience, Growth, and Connectivity”, Sponsored by PwC, March 2022, Doc # US50447523

Your guide to Industry Cloud: 3 pillars for driving its successful adoption

Now more than ever, consumers are willing to take their wallets elsewhere if their expectations aren’t met. In fact, according to a 2022 survey by PwC, 26% of US consumers stopped using or buying from a brand in the past year, and bad experiences were the overwhelming reasons why.

To learn how to develop strong, lasting, and high-value customer relationships, join us for a live Tech-Talk Webinar, presented by PwC. Our guests will share how marketers can use first-party data to take their loyalty programs to the next level.

You’ll gain expertise in:
-Engagement strategies that lead to repeat sales
-Scaling personalized experiences to deepen customer relationships
-Why data is essential in earning trust and loyalty

Helping Drive Loyalty & Growth: Personalization at Scale and Data Monetization

Join Susan Smith, PwC Financial Markets and Real Estate Director, and Amy Olson, PwC Financial Markets and Real Estate Senior Manager, for a discussion around Investor Survey’s third quarter nationwide survey findings. Building on decades of commercial real estate survey data, get ready to learn about current market trends and near-term expectations extracted from surveys gathered from over 100 active investors in the CRE marketplace.
They will explore how:
  • Overall cap rates continue to shift across the U.S. office, retail, warehouse, and apartment sectors both on a 
       quarterly and year-over-year basis.
  • Forecast value change expectations remain disappointing for the survey’s 22 office markets and reflect a 
       growing pessimism among office investors. 
  • Investors view of the current bid-ask pricing gap, as well as whether markets are overpriced, underpriced or 
       fairly priced.
  • The PwC Real Estate Barometer gauges each property sector’s shift across the cycle phases (contraction, 
       expansion, recession, recovery) in the near term.

More than a data source,; Investor Survey, a PwC product, provides in-depth information related to capitalization and discount rates, as well as other key cash flow assumptions. Investor Survey results cover over 40 national, regional, and city-level markets across the five main commercial real estate property sectors, including information on national niche property sectors. With a focus on data integrity, user experience and quarterly updates, commercial real estate professionals, like appraisers, investors, lenders, and managers can have greater confidence in their valuation conclusions. Don’t miss the opportunity to hear how Investor Survey gives CRE professionals the information they need to better select their valuation assumptions and have greater confidence in their conclusions.

Real estate trends for Q3 2023

The importance of deepening your understanding of your customers cannot be overstated.

In this webinar, PwC dissects their recent survey findings on a specific customer subset — high-net-worth investors — and discuss key considerations for implementing data-driven targeted messaging, building stronger relationships and delivering on your potential and existing clients’ needs and expectations.

Topics include:
– Why HNW investors are re-evaluating their financial relationships (46%)
– Review necessary steps to protect your business
– Understand best practices on turning customer data into smarter action

Attracting — and keeping — your high-net-worth investors

Over half of consumers would stop buying from a company after multiple bad experiences. Is your company doing enough to drive loyalty? PwC’s Jon Glick reveals the results of PwC’s 2022 Customer Loyalty Survey, a comprehensive look at over 4000 customers, and PwC’s Greta Lovenheim provides insights on what keeps customers engaged.

With a myriad of ways to win customer loyalty, Jon will break down the seven most effective strategies according to the survey results, share which generation is the most likely to try - and stop - using a new brand (hint: it’s not Boomers) and other fresh data points along the way.

Key takeaways:

• Tactics to increase your investments in customer segmentation
• Suggestions on how to develop a balanced approach to physical and digital customer engagement
• Methods to activate a data-driven personalization strategy that drives meaningful relationship building

7 Ways to Keep Your Customers Coming Back in 2023

Over half of consumers would stop buying from a company after multiple bad experiences. Is your company doing enough to drive loyalty? PwC’s Greta Lovenheim and Mark Baker reveal the results of PwC’s 2022 Customer Loyalty Survey alongside PwC’s 2023 Customer Loyalty Executive Survey.

Weaving together the results of both surveys, Greta and Mark will break down the seven most effective strategies for driving customer loyalty through engagement and reveal how these align with an executive’s viewpoint. You’ll also take away:

● Tactics to increase your investments in customer segmentation
● Suggestions on how to develop a balanced approach to physical and digital customer engagement
● Methods to activate a data-driven personalization strategy that drives meaningful relationship building

The Results are In: 7 Ways to Drive Customer Loyalty in Volatile Times

In today’s battle for top talent, retention is top-of-mind for business leaders, with 83% of CFOs citing hiring and retaining talent as key to growth. The pain of the Great Resignation is real. Those pressures–– combined with increased regulations and stakeholder calls for transparency––are pushing companies to examine their initiatives around critical workforce issues, including:

● Hiring
● Turnover
● Productivity 
● Diversity, Equity & Inclusion (DEI)
● Well-being 
● Skilled talent 

Saratoga can give you a data-driven approach to identifying areas of improvement in these critical areas. 

Join PwC's Jeffrey Yen and Talia Rozensher as they demo our people analytics and surveying capabilities that can help your organization:

● Analyze talent trends with the right metrics and segmentations.
● Access customized benchmarking to see how you stack up against industry peers.
● Use predictive modeling to give you actionable insights that help you plan ahead. 
● Garner feedback from your employees to see where you need to pivot to enhance employee experiences.

As we look to the year ahead, nearly a third of CHROs are investing more in DEI initiatives and want to improve their reporting on those issues. These investments contribute to building the kind of culture that helps drive employee engagement–– a metric 62% of CEOs are including in their long-term strategies. Now more than ever, people are at the heart of an organization’s ability to grow and compete. Learn how the right people analytics can help you build better workforce experiences and achieve your business goals.

Saratoga Benchmarking and People Analytics

In the past two years, there’s been a 47% uptick in citizen automation programs. And with good results. Organizations that involve employees in their automation efforts—and that upskill and reward citizen developers—see higher revenue benefits, reduced expenses, and improved work quality. This includes finance, accounting, and tax functions.

PwC and UiPath sponsored an IDC study to explore the features and impacts of these initiatives. Get ready to dig into the results.

Join Maureen Fleming, Program VP, WW Intelligent Process Automation Market Research at IDC, Kevin Kroen, PwC’s Intelligent Automation Leader, and Brandon Nott, Senior Vice President of Products at UiPath for insights and an interactive discussion about the roles of employees and the enterprise in citizen-led automation programs.

They’ll explore how:
• 72% of automation adopters gain significant benefits from citizen developer participation, including boosts in revenue and work quality—and reduced costs.
• Organizations lacking a citizen developer program can lag behind their competitors.
• Building and improving citizen automation programs takes investment, upskilling, rewards programs, and a willingness to evolve.

Don’t miss the opportunity to hear from intelligent automation and upskilling leaders about success stories, leading practices, and the latest research on how citizen developers—and the upskilling programs that train them—add value to the enterprise and help increase the speed of business.

The complimentary IDC report, "Accelerating the Impact of Robotic Process Automation" discussed in the webinar will also be available for attendees to download at the webinar's conclusion.

Accelerate the impact of automation initiatives with citizen developer programs

Over the course of the pandemic, many business leaders have come to realize that the skills their organizations will need in the future are not the same ones they’ve required in the past. There are three main ways businesses can manage skills shortages: hire new talent, reskill current staff or upskill employees.

Join PwC's Susie Patton, Alexandra Hom and Mona Jolly as they discuss how to more accurately identify skills gaps and mismatches so you can help make your organization future-proof. You will learn:

Why hiring new talent may seem like a simple solution to a complex problem—and what makes it so difficult
What it takes to reskill employees so they can do different jobs than the ones they have now
How upskilling has become essential to organizations today, and the key considerations for getting it right

Join us as we discuss the upskilling approach, and what you should know before you get started.

Speakers:
Susie Patton, Senior Manager
Mona Jolly, Director
Alexandra Hom, Director

Upskill, reskill or hire? The impact of upskilling on workforce transformation

Your workforce needs to look different than it did five years ago. Digital transformation, disruptions like COVID, and the emergence of new digital tools to drive efficiencies all require more than just investing in technology. You also need to know when to use it, how to manage it, and what skills will have the most impact on your company.

Join PwC's Matt Rice and Satpreet Grewal as they discuss PwC's upskilling journey, and provide context to consider your own company's:
- Capability to identify gaps in key digital skills across your most critical roles
- Readiness for future disruptions such as the current pandemic
- Ability to work differently, improve productivity, and leverage new technology
- Measurement of the success of your digital transformation efforts

Preparing the workforce for the future will require commitment, but the cost of inaction could be even higher. How do you know if upskilling is an investment you should prioritize? Is your company on a path to generate value from digital skills development? Find out where you stand, uncover skills gaps and learn recommended next steps to start your own upskilling journey.

Speakers: 
Matthew Rice, Director
Satpreet Grewal, Director

Upskilling is critical: Is your company ready?

Put a premium on legacy modernization

Evolving legacy technology systems within the insurance industry is a critical initiative which helps to stay competitive and meet customers' ever-changing needs. The path to modernization can seem daunting, but it doesn’t have to be.

In this webcast, we'll examine how insurance companies can accelerate the modernization of legacy systems while mitigating operational complexity and ensuring regulatory compliance. We'll also explore the exciting landscape of GenAI and discuss how insurers can leverage modern cloud-native platforms to fast-track the path to growth and return on investment.

Join Ashish Garg, Principal, Insurance Transformation, PwC and Matthew Wolff, Principal, Cloud & Digital, PwC, to learn:

• The changing trends insurers are seeing with digital transformation, and the key challenges they may face with legacy systems
• How GenAI capabilities can expedite legacy modernization initiatives
• How PwC’s Industry Cloud for Insurance solutions can help insurers transform their core systems, remain compliant, and competitive

Register now to explore the untapped value of cloud modernization, and how PwC can help you best leverage your cloud investments.

Insurance

Generative AI

Modernization

Digital Transformation

Cloud Computing

Compliance

Cloud Modernization

Cloud  Investments

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Put a premium on legacy modernization

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