AI Case Study
Swedbank AB implements Oracle's HCM solutions to digitise and automate the bank’s human resources processes
Swedbanbk AB's implementation was designed to digitise and automate the bank’s human resources (HR) processes, including the compensation for financial services professionals. The aim was to save cost. Oracle HCM Cloud’s analysis and reporting capabilities apparently enabled Swedbank to identify trends and track performance and take better hiring decisions.
The project digitised and automated the bank’s human resources (HR) processes, including compensation for financial services professionals. This aimed to to save resources and free up time for managers, HR professionals, and employees to focus on streamlining the bank's core business whilst reducing the HR IT system costs.
According to Oracle, the project further aimed to "save time and ensure data quality by selecting a solution where all HR tools and processes are integrated. Introduce an analysis and reporting system that generates better decision support than before, for example, being able to make better hiring decisions for financial services professionals.
Lay a stable foundation for further development of the bank’s HR environment, such as introducing functionality for recruitment and learning."
Oracle and Swedbank AG claims that the cloud implementation reduced costs for the bank's on-premise HR system by 50% and delivered improved functionality
Staff required to manage compensation cut from 8 to 2.5 FTEs
Swedbank AG turned to Oracle to replace their on-premise compensation and related HR systems