The Company
KBC Group N.V., is one of the major companies and the second-largest bancassurer in Belgium. It is the 18th largest bank in Europe by market capitalisation and a major financial player in Central and Eastern Europe, employing some 42,000 staff worldwide (of which more than half in Central and Eastern Europe) and serves 11 million customers worldwide (some 7 to 8 million in Central and Eastern Europe).
The Challenge
Despite of being highly business-critical, the Financial Losses and Near Misses processing and reporting process at KBC has been fragmented and involved too many manual interventions. Actual data of the running processes were difficult to get, risk managers had no easy-to-use tool to create reports and see important trends, possible issues, and threats. Process data has been stored in multiple spreadsheets, data sharing and communication were done via email making the fragmentation even worse.
The Solution
KBC Global Risk Operations’ team in cooperation with GuideVision consultants, led by Robert Hos, supported implementation of Financial Losses and Near Misses solution on top of ServiceNow Platform. Key feature included:
• Real-time dashboards and reporting
• Comprehensive calculation engine
• Multi-user, cross-department, web-based access
• No manual postprocessing
Moving away from spreadsheet-based methods towards more secure, scalable and real-time processing solutions has contributed to this success and helped the business’s growth of KBC Group.
Key Highlights
The Client: integrated bank-insurance group, catering mainly for retail, private banking, SME and midcap clients with 42 000 employees in 6 EU countries.
Implemented Solution: ServiceNow IT Service Management Suite, Customer Portal, Service Catalog, Asset Management
Duration: 3 months
Business Value:
> Using Financial Losses and Near Misses solution, risk managers can demonstrate the effectiveness of their risk management and provide a single source of data for stakeholders, as well as for teams, communicating the movement of and capturing risks.
> Ease of access of the ServiceNow Platform means that risk managers have seen a significant uplift in organisational engagement with risk management.
