Financial services can change the world
How firms can accelerate the transition to more sustainable spending, saving and living
Purpose-led, data-driven, secure
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.
We believe banks today have an opportunity to re-focus on their purpose, to accelerate digitization and to become more accessible, inclusive, and efficient. To do so, we help them in three core areas: