More than most other industries, financial institutions rely on gathering, processing, analyzing, and providing information in order to meet the needs of their customers who expect to receive the same high-quality interactions they have with technology companies and other competitors who are now targeting financial institutions.
Ensuring the bank is able to react quickly to market needs, stay at the forefront of trending newer ideas like mobile banking, social media marketing, data analytics and payments, respond to the changing regulatory landscape while managing increasing IT expense, requires management to regularly perform a comprehensive review of operating infrastructures, with a particular focus on core applications, user requirements, system architecture, vendor management, and the relative effectiveness of applications used.
Our consultants, who are experts in the "Business of Banking", have extensive technology experience and can provide robust benchmarking, outsourcing evaluations, integrated business line planning, and practical cost/benefit assessments to ensure that your IT Division and/or Outsource Provider's ability is aligned with your business strategy and requirements, and is correctly positioned to support future developments.
For more information, see BSG's IT Diagnostic and Strategy Development service.
Our technology engagements for clients have covered all facets of banking, technology and product applications, including those for deposits, loans, delivery systems, card issuing and acquiring, risk, wealth, compliance, customer segmentation, and business intelligence.