The Fintech Innovation Lab at Accenture is kind of like an iceberg; most people may not know it's there, but there's quite a bit going on below the almost-invisible surface. Nationwide Building Society is illustrating this point well, turning to Fintech Innovation Lab graduate firm Cutover to breathe some new life into Nationwide's project management systems, and based on what Cutover's got to offer, Nationwide should get plenty out of this move.
Cutover's systems allow for smoother, better software upgrades thanks to what's described as “...the creation of an operational theater for real-time visualization, collaboration, choreography and audit.” That's a lot to take in, but basically, it means the ability to better see what's going in, figure out in a group how to put it there, actually put it in place, and then figure out how well it's working once it's actually in the pipe. With Cutover, users not only get a better chance to put software in play, but also get insight on how well it's working, complete with updates to the various stakeholders involved.
The connection between Nationwide and Cutover developed during a “speed dating” event as part of the Innovation Lab's London sessions. Cutover was one of 10 finalists in the overall program, and thus had an opportunity to make short pitches, as well as stage product demonstrations, to a pool of Nationwide executives. This move landed Cutover a deal, and allowed the young company to put its system in place with Nationwide.
Nationwide's head of insight and innovation, Matt Cox, commented “We process interactions 24 hours a day, seven days a week—totaling over 2.9 billion interactions each year. We are always looking to find new ways to improve our digital and online services and this means from time to time carrying out planned maintenance. The Cutover software has the potential to reduce the customer impact and time of maintenance as well as giving our business greater control and keeping key people fully informed on progress.”
Essentially, the Cutover system is an all-in-one package for software upgrades, designed to not only make the actual installation go smoothly, but also keep those involved apprised of the progress involved. That's a valuable point, since it helps ensure that everything stays on track and any unexpected problems can be more readily addressed before snowballing into something much worse. It's great to know when problems are small, as these can be more readily addressed. Using real-time communications as a point to bring these updates around is even better, as it more readily demonstrates the effect of addressing problems early on.
Nationwide likely has a powerful new tool when it comes to getting software upgrades in place. This could be just what it needs to keep the whole system up and running, and if it's a success after all, then Cutover will have plenty of work lined up for the future.
Edited by Alicia Young