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Banking process reengineering through object-oriented modelling


Business Process Re-engineering, by including a complete redesign of core processes, is a major undertaking for any business. This is especially true for the banking sector, where the majority of core business processes could be classified as mission critical. An important step in the course of any re-engineering activity is the accurate modelling of currently followed processes as well as the modelling of re-engineered ones. This, combined with the use of performances metrics, allows the evaluation of the re-engineering processes before their actual implementation, thus minimising risk.

The overall objective of the BROOM project is to investigate the potential of redesigning core banking processes, using object-oriented (OO) business modelling techniques and tools. The OO banking business process model and the associated techniques and tools, could also prove to be a significant first design step in the development of future banking information systems. The BROOM project will concentrate on the banking processes that take place in the bank's branches and will aim in using object-oriented models and techniques in order to re-engineer these processes.

In order to accomplish its goals the BROOM project will:
- Identify and select value-adding banking processes. An analysis of the banking business processes will be performed according to existing business models, and a limited number or these processes will be selected to be modelled.
- Based on the above mentioned analysis, a conceptual model will be designed and its implementation in a object-oriented CASE tool, will be provided.
- The conceptual object-oriented model will provide the basis for examination of the benefits and risks of re- engineering the modelled processes. Simulated experiments of real-life processes will be evaluated according to predefined metrics and benchmarking guidelines.
- Finally, the project will provide concrete guidelines for reengineering banking processes, according to the results of the model developped, and will disseminate the project results on An European-wide basis.

The expected results of the BROOM project will provide the basis background for initiating reengineering efforts using the project-oriented paradigm as a basis both for modelling the banking business processes, as well as for modelling the required information systems support. Such an approach will help banking enterprises increase the quality of their services and products and limit the time required for handling client requests.

The BROOM partners intend to disseminate the results of the project following a twofold approach:
i. dissemination actions within the established channels of existing Esprit projects;
ii. dissemination actions within well-known banking conferences, seminars and forums.

The first line of dissemination actions involves the dissemination of BROOM results within EC-funded projects like Esprit. The FAST consortium, Esprit project 6691, has already accepted the presentation of BROOM results in the meetings of the Financial Interest Groups (FIG) of FAST.

The second line of dissemination actions involves the presentation of BROOM's results in established banking conferences and forums, so that an audience as wide as possible is reached.

Funding Scheme

EST - Marie Curie actions-Early-stage Training


Louise Riancourt Street 64
11523 Athens

Participants (3)

Alpha Credit Bank
Stadiou 40
Archimedes Ltd. Advanced Technology Development
Syngrou Ave. 377
17564 Athens
Sema Group Belgium
Rue De Stalle 96
1180 Bruxelles