The pace of change for banks continues to accelerate. Those that successfully keep up will look and feel very different to the banks we recognise today. They’ll centre on inspirational and aspirational purposes to connect with customers. And they’ll increasingly rely on digital and data to stay ahead of both their customers’ needs and the risk and compliance agenda.
Led by purpose
Customers today are hyper aware of the purpose of the organisations they deal with. Banks have spent the last decade rebuilding their reputations and societal standing after the 2008 crash, but still struggle to get customers to see them as truly positive social actors. Banks have an opportunity to differentiate themselves by demonstrating, and acting on, a clear purpose that inspires customers and builds loyalty. Purpose can come to life when banks are actively driving the sustainability agenda, and in the way that they foster a better culture of work for their employees.
Digitally enabled and data-driven transformation
Digital transformation continues to be the single greatest area of investment for banks. They’re putting money into new technology that help them to focus on their customers, they’re building data and analytics capabilities to rapidly understand customer behaviour, and they’re developing more bespoke products and services to create richer experiences. To make the most of these digital investments, banks must fundamentally reshape operating models to drive speed, agility and customer-centricity.
Cutting edge, future-focused risk and compliance
Data-driven technologies have the potential to revolutionise financial services by providing more seamless experiences for customers. But the potential risks are equally huge. Risk leaders within banks need to harness the power of advanced technology to streamline and automate processes today while staying vigilant to the emerging risks these advances will bring. As banks look forward and consider how to navigate the challenges responsibly, they must focus on partnerships and collaboration across the financial services eco-system.
What we can do for you
We believe banks today have an opportunity to re-focus on their purpose, to accelerate digitisation and to become more accessible, inclusive, and efficient. To do so, we help them in three core areas:
Led by purpose
- Our extensive experience of delivering high impact sustainability and climate risk engagements with both incumbents and innovators means we are uniquely placed to help banks innovate and adapt to be successful in driving a more sustainable future. Sustainability presents a massive commercial opportunity, with a predicted annual $12 trillion market value by 2030. We have helped our clients capitalise on growth opportunities presented by the circular economy, identify innovative ways to finance green initiatives, and develop new go-to-market strategies and customer value propositions aligned to sustainability goals.
- We work with leaders to capitalise on the once-in-a-generation opportunity to re-imagine work by proactively re-designing how and where people work, and work through the implications this has for technology, real estate, resilience, culture and people policies. We helped clients deliver smarter working during Covid-19 with productivity for one organisation increasing by 24%. We helped another leading asset manager define their vision and design a future workplace that enabled collaboration, flexibility and creativity in response to changing employee needs.
Digitally-enabled and data-driven transformation
- We use design-led approaches that help banks reimagine customer experience to provide personal solutions to human problems. We helped Aetna International re-imagine health insurance, by creating a global Target Customer Experience for staff, brokers, corporate sponsors and plan members globally.
- We help our clients create compelling, state of the art approaches on data, automation and cloud-enabled analytics. Read about our work to help Ageas achieve their ambition to build better analytics using cloud technology, and how we helped Rabobank use data to get a clear view of the customer journey
- We help banks transition away from legacy technology to modern platforms that enable new products and services to be built and deployed in a robust efficient way. We helped ING with the innovation expertise they needed to become a leading platform for financial services. We are the digital strategy, design and build partner for the largest not-for-profit healthcare provider, helping to deliver 4.2m extra visitors to their website, generated over £30m through e-commerce and helped them realise over 550% ROI over 5 years. We completed Europe’s largest, and one of the worlds largest, Sitecore implementations on time and on budget, for a Global Tier 1 Bank, helping them to save $30m p.a.
- We are world leaders in shaping and developing enterprise-wide organisation agility. We helped Schroders become more competitive by transforming into an Agile global organisation and accelerating the speed of release for projects by 20% over a nine-month period. We also helped PGIM Fixed Income build an innovative agile operating model in six weeks.
Cutting-edge, future-focused risk and compliance
- We help risk leaders focus on partnerships, collaboration and new technology to implement compliance by design, offering board advice and automating risk processes and reporting using breakthrough technologies such as machine learning and AI. We helped a global investment bank redesign their onboarding process including automation, risk models, AML systems and logic; this led to a 34% increase in straight through processing rate and 76% reduction in processing time.
- The fight against financial crime depends on closer collaboration built on smarter technology. Our global experience working with both industry and regulators means we can help our banking clients with practical, tailored and future-focused approaches to combatting all aspects of financial crime. We have over 250 experts who work across the whole spectrum of financial crime and have delivered over 300 assignments in the past few years alone.
- We believe that being resilient is not at odds with speed and agility, nor is cyber transformation at odds with customer-centricity. We help our banking clients adapt to customer and market needs whilst maintaining resilient operations. Read more about how we helped OneSavings Bank use crisis simulation to strengthen their resilience and Alllied Irish Bank find the right strategic cyber security partner.
How we’ll work with you
We believe in the power of ingenuity to build a positive human future in a technology driven world. Our teams of banking experts strive to live our purpose and values in the way we partner with our clients.