Client background

Client: First Bank of Nigeria

Industry: Banking & Financial Services

Products/Services: Retail banking, corporate banking, commercial banking and public-sector banking

Areas of operation: Africa and UK

Challenge

The bank’s traditional HR systems were largely non-standardized and non-harmonized, out of which, many had manual processes, resulting in dependencies at various levels. The bank was burdened with:

• Offline, paper-based recruiting system.
• Inefficient appraisal system with manual scorecards.
• High operational costs due to multiple learning systems like OLM, tangerine mobile, etc.
• Lack of integration of the HR systems with other back-office applications.

The bank wanted to eliminate these challenges by adopting online systems for faster recruiting, and agility and efficiency in daily operations.

Solution

Wipro enabled the bank to embark on a transformation program. We designed a hybrid IT architecture and implemented the Oracle HCM Cloud solution across the bank’s HR functions such as talent management, benefits, absences, payroll interface, learning, and recruitment and social sourcing.

Wipro leveraged ‘Wipro’s Jumpstart Kit for Oracle Cloud’ – an array of tools and accelerators for rapid cloud migration – as part of the simplified methodology for accelerated cloud implementation Concurrently, we also deployed:

• Oracle E-Suite modules including financial management, advanced procurement, supply chain management and enterprise asset management
• Oracle’s hyperion enterprise for performance management
• Oracle’s financial services analytical applications

Business impact

First Bank of Nigeria became the first indigenous organization in Africa to implement the enterprise edition of Oracle HCM Cloud, enabling operational efficiencies and immense benefits to its employees and the leadership.

• Automation of recruitment, onboarding and learning processes
  • Improved shortlisting and candidate quality by 15% in the first five months of usage
  • 33% reduction in hiring cycle time
  • Enhanced integration with various social media recruiting platforms for job postings and advertisements
• Improved absence processing by 33.33% due to process simplification
• 75% reduction in appraisal processing time
• Payroll management for 7,500+ employees

“FBN is engaged in an internal transformation journey, and the implementation of the HCM Cloud solution has been a significant milestone in our endeavors. The Oracle Taleo Recruiting Cloud solution has improved our reach to attract talent by leveraging social media channels as opposed to relying on traditional modes of recruitment alone. Both the FBN leadership and our 7,500+ employees have immensely benefitted from this successful implementation.”

Dr. Adesola Adeduntan - CEO, First Bank of Nigeria