Financial Services Consulting and Strategy

As customer expectations evolve, financial institutions must become bionic organizations that serve customers in ways that the industry has only begun to envision. BCG helps financial institutions transform their services and use digital innovations to build for the future.

Financial institutions must do more for customers in every industry, and find ways to exceed expectations despite margin pressure. Should a bank integrate environmental, social, and governance considerations into its financial services strategy? Set a new vision for its digital future? BCG helps organizations across the financial sector assess potential pathways and make the transformative moves necessary to thrive.

Our Services for Financial Institutions

Asset Management

Payments and Transaction Banking

Regulatory Compliance

Retail Banking

Wealth Management

Wholesale Banking

How BCG Helps Define a Digital Future for Financial Services Institutions

BCG’s work in the financial services industry—nearly 4,000 engagements over the past five years—has deepened our knowledge, enabling us to develop advanced financial sector models, benchmarks, and proprietary databases for meeting challenges across all banking segments. We use these and other tools to continually refine our predictions for the sector.

Our core capabilities include business strategy, value creation, customer journeys, sustainability, M&A, post-merger integration, emerging markets, and innovation strategy.
Our financial service consultants implement both highly targeted and large-scale, end-to-end business transformations.
Our big plays include improving personalization, deepening analytics, advancing technology in operations, increasing efficiency, and mitigating risk.

A Full Suite of Offerings for Digitization in Financial Services

BCG’s solutions are tailor-made for financial services institutions. They help banks build digital banking experiences from scratch, illuminate the path ahead for emerging fintech strategies, and transform from front to back. BCG’s solutions give financial organizations the tools they need to deliver unparalleled value.

InQbate

InQbate by BCG is a digital banking platform and accelerator with all the fundamental building blocks you need to build a digital bank.

F2B Digitization

Front to back (F2B) digitization enables financial institutions to deploy all digitization levers at the same time, revolutionizing banking and unlocking value.

SmartBanking AI

The use of AI in financial services can enable banks to build deeper customer relationships by delivering bespoke solutions. Find out how SmartBanking AI works.

FinTech Control Tower by BCG

Our powerful, global fintech platform draws on proprietary data tools, the latest market intelligence, and BCG’s expertise to help clients uncover opportunities and execute on their fintech agenda.

CO2 FI by BCG

CO2 FI by BCG helps financial institutions meet their climate impact goals.

Client Success in Financial Services Strategy

Operating-Model Transformation

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 we redesigned the bank’s operating model to better deliver value to customers through its channels, products, services, and organization structure. The transformation put the bank’s cost-to-income ratio on track to fall from 54% to 48% and its cost baseline to fall by 10%, delivering $1 billion in savings after one year.

End-to-End Digital Bank

An incumbent bank was struggling to compete for new customers. Improving its digital capabilities was key, according to our market research. BCG accelerated the institution’s digital transformation and helped build a state-of-the-art digital bank, end to end. This project leveraged InQbate by BCG to design a compelling user experience, orchestrate operational processes, and engineer a full technology stack in only ten weeks.

Enhanced Customer Experience

We partnered with a global payment card issuer to overcome technology platform constraints that were hindering its competitiveness. In a radical system transformation over five years, we created a new architecture, 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 of additional risk-adjusted revenue in year one.

Elevated Business Standards

When a global investment bank needed to respond to allegations of securities fraud, BCG supported an eight-month, board-sponsored review of business standards, including deep discovery on all business practices across all geographies. Our 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.