Transformation Solutions

Digital Transformation Recovery Strategy for a Financial Markets Business

Challenge

An APAC-based financial services institution was executing a large-scale digital transformation strategy across its front-office markets division, designed to modernize client engagement, streamline operations, and improve decisioning with data and automation. However, the transformation was failing to meet its defined KPIs, creating executive-level concern around ROI, delivery governance, and alignment to business outcomes.

A specialist consultant with deep financial markets transformation experience was required to conduct a rapid assessment — identifying root causes, reviewing the strategic execution roadmap, and re-aligning digital initiatives with measurable business performance and stakeholder buy-in.

Solution

Harmonic applied a three-phase transformation diagnostic and recovery framework — Assess → Realign → Accelerate — combining governance analysis, KPI diagnostics, and capability mapping to reposition the digital program for success.

1. Strategic Alignment & KPI Review

• Reassessed the original transformation objectives, tracing them back to corporate strategy, regulatory goals, and commercial KPIs.

• Conducted a KPI integrity audit to identify misaligned, redundant, or lagging indicators.

• Engaged C-suite and product owners to redefine SMART metrics (e.g., client conversion rates, time-to-market for product launches, automation penetration).

• Established a clear KPI lineage model linking operational metrics to business outcomes and P&L drivers.

2. Governance & Execution Audit

• Mapped all program initiatives, ownership structures, and governance layers, identifying points of accountability failure.

• Analyzed backlog management and delivery cadence — revealing bottlenecks caused by cross-functional silos and unclear prioritization criteria.

• Introduced a Transformation PMO Control Tower model with unified oversight, milestone tracking, and delivery risk management.

• Established governance scorecards to assess decision velocity, budget utilisation, and delivery variance against baseline.

3. Technology & Infrastructure Review

• Conducted a fit-for-purpose evaluation of the existing technology stack, integration architecture, and data flow dependencies.

• Identified system fragmentation and duplication across CRM, trading, and analytics platforms.

• Recommended platform rationalisation, focusing on interoperability between new digital front-office tools and legacy risk engines.

• Created a data strategy blueprint linking market data ingestion to reporting and analytics layers, ensuring real-time visibility and performance insight.

4. Change Management & Culture Reset

• Introduced a structured change management program, aligning teams around shared transformation objectives.

• Conducted workshops to reframe digital transformation as an enabler of client growth and performance uplift, not just a technology initiative.

• Embedded training and capability uplift plans for key staff to increase adoption and accountability.

• Defined cultural metrics (engagement, adoption rate, leadership visibility) as part of the transformation KPI framework.

5. Stakeholder Engagement & Communication Framework

• Facilitated alignment sessions between front-office, operations, risk, and technology leaders to co-design realistic delivery priorities.

• Introduced an executive communication cadence for program transparency, including monthly steering reports and risk dashboards.

• Supported the development of a revised transformation narrative, restoring confidence among business sponsors and external stakeholders.

Key Deliverables

• Transformation Diagnostic Report identifying performance gaps and KPI misalignments.

• Governance & PMO Redesign Framework for clearer ownership and delivery accountability.

• Technology Rationalisation Blueprint integrating front-office and analytics tools.

• Change Management & Communication Plan to re-engage internal stakeholders.

• Revised KPI Framework & Benefits Tracking Dashboard.

Client Benefits

• Re-established alignment between transformation strategy and commercial objectives.

• Improved KPI visibility and traceability, enabling better leadership decision-making.

• Reduced delivery friction through clarified roles, governance, and cross-functional accountability.

• Enhanced employee adoption and engagement through structured change management.

• Positioned the digital program to meet its revised targets within a measurable performance framework.