Banking & Insurance

Sector Challenges

The business landscape of the financial sector is constantly evolving. Structural changes of the last months have forced banking and insurance companies to elaborate new strategies and innovate in order to face new challenges. According to several studies, middle sized banks will face difficulties to retain customers and on the contrary banks having strong presence in a niche market will have the opportunity to foster their activities.

Overall, we see 3 broad categories of challenges:

  • Marketing, multichannel strategy and client relationship; key topics are the transition to digital tools and channels, increasing use and coordination of multiple channels
  • Structure, organization & operations transformation and performance; key topics are transformation programs to increase efficiency and digital automation
  • Regulation and compliance; key topics are adapting business models to new regulations, increasing transparency and risk management

Our recent assignments in Finance

  • Working with a major bank in the context of a merger on Change Management aspects to facilitate the smooth integration of the teams and new standards within Securities department.
  • Working on the re-engineering of the processes for a whole operational division in order to introduce new savings within a Facility Management department.
  • Working on the optimization of a Corporate Project Management Office by developing tailor made reporting tools and support to operational managers
  • Working on the integration of a new Risk Management solution within the trading department.
  • Working with a large insurance company on the definition of a new sourcing strategy to optimize their flexibility toward the different business lines while decreasing the costs drastically.

Should you need more information, see our References section, or contact us