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

Helping build a bridge to digital transformation with Workday

At PwC, we understand how critical it is that your banking data has more accessible and increased accuracy, so you can put it toward helping improve profitability and customer satisfaction. Our close integration with Workday can help banking clients with their more complex challenges in unexpected ways, particularly those related to risk management.

With our extensive experience in the banking industry, we have developed an outcome-focused approach to business transformation and back office modernization, with a focus on helping drive efficiency gains across the enterprise.

Solutions at a critical crossroads

As many capital markets continue to struggle with uncertainty, today’s banking industry is facing more turmoil than it has in over a decade. As well, customers are demanding access to digital tools and self-help services that let them get more out of their relationship with you.

Experience is everything, yet many traditional banks remain mired in legacy systems and archaic operations based on phone calls and paper forms, while increasingly onerous regulatory requirements can further complicate things. Today’s banking organizations should have transformative overhaul — before they are disrupted by more aggressive, digitally native upstarts.

In PwC's 2023 Cloud Survey:


of banking leaders say that technology processes such as regulatory remediation will be one of their most beneficial tools to invest in over the next 12 months.


of banking leaders say that federal examination of banking infrastructure and operations has increased FFIEC 2021 guidelines, requiring remediation.

The key to success: Data

Data is emerging as an essential asset for the banking industry. Unfortunately, for many banks, that data remains inconsistent, inaccurate and spread across organizations to the point where the typical analyst may now spend a large portion of their time gathering data rather than analyzing it.

When data moves out of a legacy database, important information is often lost or duplicated, resulting in multiple sources of truth. The key data required to make the right financial decision may never make it to where it is needed.

Regulations require that banks use a specific data model to help meet reporting needs such as net interest margins, FAS 91, CECL, and call reporting. However, establishing enterprise data that can fit neatly into these formats can be difficult and time-consuming.

How PwC can help

Advanced experience in banking and Workday

With more than 900 Workday certified consultants, PwC enters each engagement with a specific focus on the banking industry and an understanding of the specific risk and regulatory needs of banks.

A data model designed for banks

PwC’s banking industry Workday model system is purpose-built to fit the specific needs of banking operations, helping create compatibility with common banking standards and regulatory requirements.

An insights tool to help guide your balance sheet

Strategic Cost Intelligence, a PwC product, can incorporate our guided modeling methodology, helping you get the insights that you should have to understand hidden costs and find where profits are eroding in real-time.

Contact us

Mike Roberts

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

Brett Kaufman

Workday Alliance Sales Director, PwC US

Jim Rodgers

Workday Alliance Sales Director, PwC US

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