PwC and Workday: Preparing the banking industry for the next wave of transformation

Building a bridge to digital transformation with Workday

At PwC, we understand the integral role of accessible and precise banking data in enhancing profitability and customer satisfaction. By teaming up with Workday—and harnessing the power of data and generative AI—we help banks tackle tough challenges, especially in risk management and regulatory compliance. With our deep experience in the banking world, we have crafted a personalized approach rooted in achieving results, transforming businesses, and modernizing back-office operations to help drive efficiency across the board.

Industry trends and opportunities

To thrive, those in the banking and capital markets sector should swiftly adapt to evolving monetary policies, regulations and geopolitical uncertainties. Key strategies include focusing on strategic lending, enhancing customer relationships and exploring private credit partnerships. Retaining top talent is equally important and requires embracing flexible work arrangements, integrating AI, and prioritizing employee well-being. Additionally, modernizing data infrastructure is imperative for leveraging generative AI to help drive growth, personalization and cybersecurity, moving beyond experimentation to embrace proactive workflows.

While it may feel daunting, Workday can support these efforts by providing tools for workforce management, data insights and operational agility, helping banks transform legacy systems and stay competitive—and lead the pack in a constantly changing landscape.

A turning point for tomorrow's solutions

Unprecedented challenges have become commonplace. Customers increasingly demand digital tools and self-service options. Experience is everything, yet many traditional banks remain mired in legacy systems and outdated operations. The growing regulatory landscape adds complexity, making a transformative overhaul essential to prevent disruption by more agile, digitally native competitors.

Data: the key to success

Data is essential to helping tackle challenges, yet many banks struggle with inconsistency and inaccuracy due to data scattered across multiple systems. This situation results in inefficiencies and missed opportunities, as legacy systems frequently cause data loss or duplication, leading to multiple versions of the truth. Consequently, important financial data often fails to reach decision-makers promptly, hindering strategic decision-making. Furthermore, regulations require specific data models for reporting, such as net interest margins and Current Expected Credit Loss (CECL). Although establishing enterprise data that meets these formats can be challenging, it is imperative for both compliance and growth.

How PwC can help

Advanced experience in banking and Workday

With over 900 Workday-certified consultants, PwC brings a banking-focused approach, understanding specific risk and nuanced regulatory needs. Our industry-leading experience in leveraging data helps you modernize and innovate.

Contact us

Mike Roberts

Principal, Workday Financials Transformation Leader, Consulting Solutions, PwC US

Kevin Foutch

Managing Director, Workday Transformation, PwC US

Follow us