ORM has been working with Valley Bank over the last six months to create and bring new digital products and service innovations to market. The partnership aims to direct new and diversified revenue for the US community bank.
Some of the new digital capabilities within the suite of digital products are coming to market in the spring, and will use features such as digital signatures and personalisation as well as improve existing Valley products.
The work has been focused around supporting Valley in developing new digital product propositions for niche target markets, looking at everything from team set up and toolchains used, to product strategy and agile product development.
Stuart Cook, Valley Bank's chief digital product officer, says: “This is a huge step in Valley’s digital transformation as we focus on delivering new top line revenue for the bank. We’re embracing change, iterating and testing products as we develop them, to optimise the digital experience for our customers.”
The bank is creating new ways of working within its business, and ORM is helping the organisation deliver the end products.
Clare Lambert, ORM's business director, says: “Enabling our clients to be focused on products is a key output for ORM and on this we’ve been able to rapidly co-create with the digital team at Valley Bank. This has meant a lot of flexible working to account for the time difference, as the wider ORM and Valley teams have been spread across London, New Jersey and Austin – but it’s worked really well and we’ve become one, synonymous team. I can’t wait to deliver the products this year.”
ORM has worked with multiple asset managers in the UK and has previously engaged with other well-known financial services businesses. As of January 2020, ORM has also opened up an office in New Jersey, US, to better support clients.