Modernising a Multi-brand Financial Services Web Ecosystem

The context

Our client, a financial services company aims to provide their 30+ brands access to a cost-effective, secure, and easy-to-use platform to manage their web presence. They had hit a wall; despite a significant team being in place to operate the platform, brands were unhappy with the lack of innovation and at risk of leaving.

Stability and usability issues were giving the platform a bad reputation, and the cost to onboard new sites was prohibitive. As such, the client was unable to move their platform forward, despite great potential (less than 20% of brand sites were running on the platform).

There was a clear need to review and embark on a modernisation program. Our client was, however, concerned that they did not have the necessary experience or capacity in-house and asked arcast to assist. 

Together we went through a two stage process to initiate a successful modernisation program:

Unearthing key challenges

The work kicked off with two days of intensive in-person sessions. The aim was to create a broad and balanced picture of the current state of affairs by hearing as many voices as possible.

Starting with group-level marketing and IT on the strategic level, we moved on to speak individually with the brands using the platform.

We went into details with end users from editors to developers, then gathered input from security, architecture, infrastructure, and quality representatives.

The resulting overview provided insight into key challenges faced:

• Innovation too low, and cost too high to make the platform attractive to brands
• Editors working 'blind' in error-prone and slow editorial processes
• High dependency on dev teams for simple changes like page and form design tweaks
• On-premise infrastructure with stability and scalability issues, requiring niche skills to operate
• Complex upgrade processes and high migration costs to move to a cloud-based equivalent

Making the case for change

In order to effect change, a business case was needed, so the next step was to create a solid plan with two key elements:

1. Transformation strategy: A high-level plan, costs, and timeline to modernise the platform
2. Platform technology assessment: Recommended platform architecture including vendor analysis

Using our extensive knowledge of digital experience platforms, we put together a set of potential options. We evaluated different architectures, including the suitability of a headless approach and spoke directly with vendors to establish how costs would scale as many new sites were onboarded.

We agreed on a shortlist and evaluated each vendor in detail against a tailor-made set of criteria. This resulted in overall scores grouped into categories such as Time to Market, Key Requirements, and Cost of Ownership.

Two vendors stood out, and we invited them to demonstrate their products. The final report, which we presented to key stakeholders included a summary of the analysis, our recommendations, and a vendor-neutral transformation strategy and roadmap.

With the aid of ballpark costing we provided, the client now had the right ammunition to create a business plan and get approval to initiate the transformation program.

Designing for success 

With the decision made to modernise on a new SaaS-based web platform, the client was keen to make the transformation as quickly as possible without disrupting their ongoing operations. High-level plans needed to evolve into a solid platform design, and all areas of the business engaged and aligned to ensure an effective and efficient transition.

Using the in-depth knowledge of the business established in the initial review, we created a platform vision to rally IT and Marketing around a common cause. This linked business strategy and key requirements to an easy-to-relate vision of the future platform and its operating models.

We defined the solution architecture and led the way in aligning security, architecture, and procurement so all necessary procedure and compliance topics were addressed effectively.

A detailed analysis of sites to be migrated was used to steer the selection of the first site to migrate and define the scope for the platform MVP (Minimum Viable Product). 

In parallel we set up a technical foundation to manage a common UI component library, automate deployment, and integrate security and test tooling. This augmented and aligned with our client’s existing DevOps practices.

The Impact

This first part of the assignment ensured a clear business case for change could be made based on independent, expert analysis of our client's specific situation:

• Comprehensive transformation strategy, roadmap, and costs clear
• Well-founded technology choices established

Once plans were approved, in just 8 weeks we put in place a foundation to rapidly move sites to a new enterprise-ready platform:

• Marketing and IT operational teams aligned and reinvigorated around a vision to create a platform and operating model to be proud of
• All obstacles cleared for rapid implementation: Internal compliance, procurement, and agreement on MVP scope
• Initial, minimal subscriptions procured with transparency on how costs scale efficiently as the platform grows
• Technical foundation setup to enable implementation teams to iterate at speed and deploy brand sites with a greatly improved customer experience.

The arcast effect

arcast's independent standpoint enables us to put our client's needs first; informed by years of experience but unaffected by cognitive bias with relation to particular architectures or vendors.

A key ingredient of project success is the M-shaped profile of our consultants. Their ability to operate across domains meant a team of just two consultants was able to build a holistic view by talking to all relevant stakeholders from boardroom to engine room.

Continuity of knowledge was ensured in the second part of the project as the original team was augmented in order to rapidly execute enterprise platform foundations and navigate complex approvals from architecture through to procurement. 

What happened next?

Aligning teams and creating a well thought out foundation was only the beginning. The next part of this case study will focus on how arcast helped unlock the real value of the new platform and operating model by delivering the platform MVP and proceeding to full decommissioning of their legacy platform.

This was much more than a like-for-like migration. Brands got a much-needed boost as we delivered high-value UX improvements, a flexible design system to empower platform users and evolved the operating model to build up a true centre of excellence within their organisation.