Our Approach to Reimagining Finance

Our financial services consulting teams think differently—throwing out the standard playbook and rewriting rules for how consulting firms should partner with clients. Our experts bring a ground-breaking financial sector acumen and a spirit of true collaboration to all levels of our clients’ organizations to drive real impact. We place equal focus on growth and innovation to create personalized solutions that not only work but also stand the test of time.


Our work in the financial services industry includes deep knowledge and capabilities in three core, cross-functional areas:

A Holistic Approach to Financial Services Digitization

A financial institution typically performs roughly 4,000 processes to handle all customer interactions. With this level of complexity, it’s no wonder that banking has fallen behind other industries with respect to digitization, personalization, and advancing technology in operations. BCG offers both highly targeted and large-scale, end-to-end business transformations that fully leverage financial services digitization, AI, and advanced analytics to meet challenges across all banking segments.

Solutions for Sustainability, Climate Impact, and Financial Services

We work at the enterprise level to enable our financial sector clients to realize their climate change and sustainability agendas, bringing savoir faire on social and environmental trends—financial inclusion, human rights, biodiversity, and more. In addition to mitigation efforts and net-zero target-setting, BCG’s dedicated teams help clients make true financial services societal impact.

Building Competitive Advantage Through Risk and Compliance

Environmental regulations, potential sanctions, third-party risks. We all know the damage regulatory compliance failures can bring. BCG helps banks mitigate risk and address such areas as new consumer behaviors, evolving business models, and shifting rules—often by redesigning core processes to enable digital regulatory and compliance-monitoring solutions.

Our Clients’ Success in Financial Services Strategy

How Citizens Is Competing—and Winning—Against Fintechs

Michael Ruttledge, CIO of Citizens, explains how a digital transformation has allowed the company to compete against fast-moving startups.

A global bank with more than 300,000 employees needed to transform its operating model. BCG defined a new target business model on the basis of customer economics, then redesigned the bank’s operating model to deliver better value to customers. The transformation put the bank’s cost-to-income ratio on track to fall from 54% to 48% and its cost baseline to decline by 10%, delivering $1 billion in savings after one year.

An incumbent bank was struggling to compete for new customers. According to our own market research, improving its digital capabilities would be key to a turnaround. BCG accelerated the institution’s digital transformation and helped build a state-of-the-art digital bank, leveraging InQbate by BCG to design a compelling user experience, orchestrate operational processes, and engineer a full technology stack in only 10 weeks.

BCG partnered with a global payment-card issuer to overcome technology-platform constraints, creating a new architecture and fully leveraging big data and advanced analytics to offer a cutting-edge customer experience. The transformation delivered recurring top-line impact, with up to $500 million in additional risk-adjusted revenue in the first year.

When a global investment bank needed to respond to allegations of securities fraud, BCG supported an eight-month review of business standards across all business practices and geographies. The work produced 39 public recommendations, including new disclosure and origination standards, product documentation, and reporting lines; an updated code of conduct; improved governance; and stronger performance evaluation and training.

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  CO2 FI by BCG

  CO2 FI by BCG is our AI-powered solution for net-zero alignment in the financial services industry, helping financial institutions meet their climate-impact goals.
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  InQbate

  InQbate by BCG is a digital banking platform and accelerator containing all the fundamental building blocks companies need to create a digital bank.
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  F2B Journeys

  (Front to Back) (F2B) Journeys enables the simultaneous deployment of all financial institution digitization levers, revolutionizing banking and unlocking value.
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  SmartBanking AI

  SmartBanking AI allows banks to build deeper customer relationships by delivering bespoke solutions.
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  FinTech Control Tower by BCG

  BCG’s powerful, global fintech platform draws on proprietary data tools, the latest market intelligence, and deep in-house expertise to help clients uncover opportunities and execute on their fintech agendas.