Deepak Goyal
Managing Director & Senior Partner
New York
Deepak Goyal is a member of Boston Consulting Group’s Insurance and People & Organization practices and a core member of the firm’s Marketing, Sales & Pricing, Financial Institutions, and Technology Advantage practices. He is BCG’s North America leader for pricing within financial institutions.
Since joining BCG in 2004, Deepak has advised global clients on a range of issues, including strategy, operations and IT, organization, and overall transformation.
Before joining BCG, Deepak worked for McKinsey in India.
The pandemic has radically reset the pace of change in the banking industry. To keep up, a new approach is needed—fast.
Given the profound changes sweeping the industry landscape, it’s time for banks to reinvent themselves.
Today’s leading firms achieve stronger revenue growth by treating pricing as a capability they can adjust in response to varying client needs.
Robots and artificial intelligence will vastly improve many banking services, including deposits, loans, fraud protection, and mortgage processing. Here’s how to realize the promise of smart processing.
Attrition accounts for 10% to 15% of gross revenue loss annually. Much of this loss is addressable. Corporate banks that pursue targeted client retention efforts can double their revenue growth without selling more.
By ensuring that their relationship managers account for customers’ price sensitivity when setting target prices, commercial lenders can increase revenues by up to 10%.
Despite the urgency for corporate banks to boost returns, few scrutinize their pricing practices. That is a costly mistake. Repricing is a low-risk way to improve growth.
Increasing share of wallet with existing clients—as opposed to focusing on developing new business—and taking a data-led, advisory approach can lift wholesale banks’ performance.
The card industry is facing multiple challenges—but there is also a wealth of opportunity.
BCG’s eleventh study of the global payments business offers an overview of the industry landscape as well as detailed examinations of specific high-stakes topics.
