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Banking and Financial Services Transformation

 

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Three Predictions that Will Power the Banking and Financial Services Market in 2024

It’s time to look forward for the Banking & Financial Services (BFS) industry. What can we expect in 2024?

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Banking operations for a customer-obsessed industry

Let us help you find and implement the right technologies to improve your customer experience, optimize data and transform your business model.

Optimize Costs and Maximize Financial Transparency

Support your Technology Business Management journey to ensure business value is realized
Provide practical FinOps advice to drive better cloud economics
Benchmark your technology and operations costs against your peers to identify areas for improvement
Develop a new way of approaching cost optimization to make it sustainable and enduring
Design the optimal cost structure, including embedding a new cost culture and virtual cost center of excellence

Improve Employee Experience and Productivity

Measure, benchmark and track employee experience
Perform a skills assessment to identify the gaps and opportunities to improve
Enable employees and develop the optimal Learning & Development strategy, including Training-as-a-Service
Design and implement new ways of working, including the right talent strategy
Transform HR operations to improve employee engagement

Develop Next-Gen Supplier Strategy and Ecosystems

Provide insight into next-gen supplier strategies, including new ways of segmentation, tail spend consolidation, new sourcing models and innovative commercial structures
Advise on how to manage newly emerging ecosystems, including Banking as a Service, FinTechs, Big Techs, hyperscalers, niche suppliers, etc.
Provide third-party risk management assurance and optimized governance solutions
Advise on how to leverage emerging tech (such as GenAI) in contracts with suppliers for outsourcing and/or transformation
Provide insight into Global Capability Center strategy, including drivers, KPIs, commercial structures and supplier ecosystem
2023 Banking Industry Study

ISG Banking Industry Study

ISG's recent study shows the banking industry's top priorities are operational efficiency and customer experience.

Download the Summary      Contact Us for Full Access

Reinventing Bank Branches

Will most people go back to purely in-person banking? No. But the demise of bank branches is greatly exaggerated - a recent Celent report says that 77% of customers want to be face-to-face for substantive discussions about their finances.

Read ISG’s whitepaper to learn how to reimagine your #branchstrategy for the future of banking.

Read Here

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Trends Shaping the Financial Services Industry

Important Factors for Digital Success

Client Stories

Optimize IT Spend

Dec 17, 2021, 15:49 PM
The company needed to better understand the true cost of IT consumption across departments. The goals were to increase trust in IT finance data, create accurate reporting to regulatory agencies, save money where possible and spend its IT dollars more wisely.
Title : Optimize IT Spend
Alternate title : A Financial Services Company Sees Better and Spends Better
The company needed to better understand the true cost of IT consumption across departments. The goals were to increase trust in IT finance data, create accurate reporting to regulatory agencies, save money where possible and spend its IT dollars more wisely.
Due to changes in technology platforms, the company needed to map the total cost of ownership for a total of 6,000 applications and 136 service offerings. This required a continuous real-time read on financial status so it could build strategic scenarios and forecasting.
ISG used the IT business value framework and its expertise in IT financial management to structure the cost and value of IT. By using its market insights and benchmarking data, ISG identified almost $15 million in savings.

With more than 400 team members trained on the new IT financial management processes and roles, the company is reaping the rewards of organizational change that bring with it real and lasting agility.

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Categories :
  • Banking & Financial Services
  • Insurance
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