Pnc Financial Services Group logo

Pnc Financial Services Group Engineering

To provide financial services that help people achieve financial well-being by leveraging technology to create the leading bank of the future

Stay Updated on Pnc Financial Services Group

Get free quarterly updates when this SWOT analysis is refreshed.

Pnc Financial Services Group logo
Align the strategy

Pnc Financial Services Group Engineering SWOT Analysis

|

To provide financial services that help people achieve financial well-being by leveraging technology to create the leading bank of the future

Strengths

  • PLATFORM: Robust digital banking platform with high user adoption
  • TALENT: Strong engineering culture with specialized fintech expertise
  • INFRASTRUCTURE: Modern cloud infrastructure supporting scalability
  • INTEGRATION: Successful merger of tech stacks after acquisitions
  • SECURITY: Industry-leading cybersecurity protocols and standards

Weaknesses

  • LEGACY: Technical debt from older systems hindering innovation
  • SILOS: Engineering teams operate in isolation reducing efficiency
  • SPEED: Slower release cycles compared to fintech competitors
  • TALENT: Challenges attracting top engineering talent vs tech firms
  • DATA: Fragmented data architecture limiting analytics capabilities

Opportunities

  • APIS: Open banking standards enabling new partnership possibilities
  • AUTOMATION: AI-driven process automation for cost reduction
  • ANALYTICS: Advanced data analytics to improve customer insights
  • CLOUD: Further cloud migration to enhance agility and scalability
  • MOBILE: Expanding mobile-first capabilities for younger demographics

Threats

  • COMPETITION: Neobanks offering superior digital user experiences
  • TALENT: Tech giants attracting top engineering talent with benefits
  • SECURITY: Increasing sophistication of cyber threats and attacks
  • REGULATION: Evolving compliance requirements increasing costs
  • INNOVATION: Rapid technological change outpacing adaptation

Key Priorities

  • MODERNIZE: Accelerate legacy system replacement and tech debt reduction
  • TALENT: Implement aggressive hiring and retention for engineers
  • DATA: Unify data architecture to enable next-gen analytics
  • AGILITY: Adopt DevOps practices to increase deployment frequency
Pnc Financial Services Group logo
Align the plan

Pnc Financial Services Group Engineering OKR Plan

|

To provide financial services that help people achieve financial well-being by leveraging technology to create the leading bank of the future

MODERNIZE TECH

Transform our core technology for the digital future

  • LEGACY: Retire 30% of legacy systems and migrate to cloud-native solutions with zero downtime
  • MICROSERVICES: Refactor 4 core banking functions into microservices with 99.99% SLA by Q4
  • DEVOPS: Implement CI/CD pipelines across 85% of development teams reducing deploy time by 60%
  • ARCHITECTURE: Establish enterprise-wide tech architecture governance board with quarterly reviews
WIN TOP TALENT

Build the best engineering team in financial services

  • HIRING: Increase engineering headcount by 15% focusing on cloud, AI, and security specialists
  • RETENTION: Reduce voluntary turnover to below 10% through competitive comp and growth paths
  • SKILLS: Ensure 90% of engineers complete at least one certification in cloud or AI technologies
  • CULTURE: Achieve 85%+ employee satisfaction score in tech organization satisfaction survey
UNLOCK DATA

Create a unified data ecosystem for insights and AI

  • PLATFORM: Launch centralized data lake with 100% of customer data sources integrated by Q4
  • QUALITY: Implement automated data quality monitoring achieving 95% quality score across systems
  • GOVERNANCE: Deploy comprehensive data governance framework with 100% regulatory compliance
  • ANALYTICS: Enable self-service analytics for 200+ business users with training and documentation
SHIP FASTER

Accelerate delivery with agile engineering excellence

  • FREQUENCY: Increase production deployment frequency from monthly to weekly for core services
  • AUTOMATION: Achieve 85% automated test coverage across all critical applications and services
  • EFFICIENCY: Reduce mean time to resolution for P1 incidents from 4 hours to under 30 minutes
  • COLLABORATION: Implement cross-functional product teams for all major digital initiatives by Q3
METRICS
  • DIGITAL ACTIVE USERS: 15% growth by end of 2024, 22% by end of 2025
  • DEPLOYMENT FREQUENCY: From monthly to weekly for all core services
  • SYSTEM RELIABILITY: 99.99% uptime for all customer-facing applications
VALUES
  • Customer Focus: Delivering exceptional experiences through intuitive technology
  • Innovation: Embracing change and pioneering new solutions
  • Collaboration: Working across teams to deliver integrated solutions
  • Excellence: Setting high standards in engineering and service delivery
  • Security: Protecting customer data and maintaining trust
Pnc Financial Services Group logo
Align the learnings

Pnc Financial Services Group Engineering Retrospective

|

To provide financial services that help people achieve financial well-being by leveraging technology to create the leading bank of the future

What Went Well

  • DIGITAL: Mobile banking engagement increased 18% YoY exceeding targets
  • INFRASTRUCTURE: Cloud migration project completed on time, under budget
  • AUTOMATION: Implemented RPA saving 22,000 manual processing hours YTD
  • SECURITY: Zero major security incidents with 99.99% system uptime met
  • INNOVATION: Virtual Assistant adoption reached 32% of digital customers

Not So Well

  • LEGACY: Core banking system modernization project behind schedule by 2Q
  • TALENT: Engineering turnover rate increased to 18%, above target of 12%
  • INTEGRATION: API development timeline extended due to technical barriers
  • PERFORMANCE: Multiple service degradations affecting digital experience
  • DATA: Customer data platform implementation delayed by compliance issues

Learnings

  • METHODOLOGY: Agile adoption works better with focused product teams
  • ARCHITECTURE: Microservices transition requires stronger governance
  • PLANNING: Technology roadmap should align closer with business strategy
  • CULTURE: DevOps practices need executive sponsorship to take hold
  • TALENT: Remote/hybrid work model improves engineering hiring success

Action Items

  • ACCELERATE: Prioritize core banking modernization with dedicated team
  • RETENTION: Implement competitive compensation review for tech talent
  • DEVOPS: Launch automated CI/CD pipeline for all application teams by Q3
  • DATA: Establish unified data lake architecture with governance framework
  • CLOUD: Complete migration of remaining 35% of applications to cloud
Pnc Financial Services Group logo
Drive AI transformation

Pnc Financial Services Group Engineering AI Strategy SWOT Analysis

|

To provide financial services that help people achieve financial well-being by leveraging technology to create the leading bank of the future

Strengths

  • FOUNDATION: Strong data infrastructure supporting AI initiatives
  • INVESTMENT: Significant funding allocated to AI development
  • TALENT: Growing team of AI/ML specialists and data scientists
  • ADOPTION: Successful pilot programs demonstrating ROI
  • GOVERNANCE: Established ethical AI framework and policies

Weaknesses

  • INTEGRATION: Challenges implementing AI into legacy systems
  • SCALE: Limited deployment of AI solutions across organization
  • SKILLS: Engineering talent gap in specialized AI capabilities
  • DATA: Data quality issues hampering model training effectiveness
  • SILOS: Fragmented AI initiatives across business units

Opportunities

  • PERSONALIZATION: AI-driven customer experiences and recommendations
  • AUTOMATION: Process optimization through intelligent automation
  • RISK: Enhanced fraud detection and risk management capabilities
  • INSIGHTS: Advanced predictive analytics for financial forecasting
  • EFFICIENCY: Operational cost reduction through AI-powered systems

Threats

  • COMPETITION: Fintech competitors with advanced AI capabilities
  • REGULATION: Emerging AI governance and compliance requirements
  • BIAS: Risk of algorithmic bias affecting customer outcomes
  • ADOPTION: Customer resistance to AI-powered financial services
  • TALENT: Intense market competition for AI engineering talent

Key Priorities

  • UNIFY: Create centralized AI strategy and governance structure
  • UPSKILL: Launch comprehensive AI training for engineering teams
  • MODERNIZE: Build AI-ready data platform for model development
  • SCALE: Move successful AI pilots to production environment