Financial Institutions
Amid Widespread Digital Transformation, Banks Need Clear Strategies and Crisp Execution
Financial institutions are facing unprecedented market challenges. Revenue and profit sources are shifting. Cost pressures are rising. Business models are transforming. Customer behaviors are evolving. At the same time, regulators are putting the industry under ever-increasing scrutiny. Some institutions are maintaining or improving profitability, while others are failing to adapt. What does it take to win? A clear strategy, an outstanding business and operating model, and disciplined execution.
Successful banks work hard to strengthen customer relationships across channels, identify digital initiatives worth investing in, and conduct smart experiments. See how financial services have evolved and how technology is transforming the banking industry.
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BCG's Center for Digital in Financial Services offers a full range of tools, approaches, and insights that show companies how to gain competitive advantage through digital transformation.
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Working with BCG, a large retail bank simplified its operations and reduced its operating costs by 8%. It also established scalable global functions. The overall result was a lower-cost organization that was more focused on delivering value to clients.
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Kilian Berz
Senior Partner & Managing Director, Global Leader, Financial Institutions Practice
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