compensation strategy

Wednesday, July 14th 2021

This week in
Consulting

Disruptions on the horizon for Financial Services.

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This week’s must read

Open Banking: Unboxing a ubiquitous trend that is here to stay
Open banking has recently become a buzzword for the banking industry. Let’s unbox this ubiquitous trend that, according to subject matter experts, is here to stay.

Long before the pandemic, the financial services industry has had more disruption than any other industry turning to digital transformation to enhance more customer-centric offerings. With the increase in social distancing and preference for online transactions, an open banking ecosystem based on a platform can help unleash big ambitions and revolutionary business value.
So, what strategic choices will you make?

This Week’s Must Read is an insight piece from  Kellton Tech about how the open banking revolution is influencing financial institutions.

 @Kellton Tech

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Thought Leadership

Why now is the time for banks to strategically review their IT spend
IT spend is on the rise for banks. To deliver the future of banking, managing IT spend needs a new approach. Based on our experience and research from the past economic crisis, the most mature IT organizations responded faster during the downturn. IT total spend management is a crucial part of the f…

To deliver the future of banking, managing IT spend needs a new approach. But IT spend steering can no longer be considered simply “nice to have” in today’s uncertain environment. So how do you implement the right IT spending strategy?

Karim Zerhouni, Juan González @Arthur D. Little

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Will (retail-)banks keep up with banking? - ConMendo GmbH
It is well known that the banking industry is dealing with major challenges. The origins are often believed to be related to the external environment of banks. Especially innovative banking technologies have changed the financial sector in recent years: Smart financing solutions and payment methods,…

From financing solutions to smart payment methods or mobile payment solutions and crypto-currencies are all challenges facing the banking industry. FinTechs that blend the traditional banking industry with innovative software solutions are offering greater choice to customers. Should the future of the banking industry be reoriented?

Annette Putzer, Franziska Schmid and Güney Aktas@ConMendo

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THE BREWING STORM OF BUY NOW PAY LATER
Retail Banking has in many ways been a traditional, rather slow-moving industry where product innovation – if at all – has happened in small and incremental steps.

The “Buy Now Pay Later” hype, visible in many European countries today, could be a real product disruption in retail banking. Here is a state of play and some strategies for industry players who are not yet active in the BNPL market and who need to assess their opportunities regarding this hot topic.

Christoph Stegmeier, Oyvind Oanes and Erica Liao @exton consulting

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Accelerating Continuous Improvement in Financial Services | North Highland
In the financial services industry, it’s no surprise that customers come first. As a result, many firms have shifted their focus to delivering products and services on the customers’ terms, across branch, desktop, and mobile locations. Indeed, customer experience (CX) is the top 2020 strategic prio…

Many companies have focused on delivering products and services on the terms of increasingly connected customers, but at what cost? Are financial services companies equipped to address today’s top priorities for customer experience and operational efficiency?

Jill Jacques@North Highland

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This week’s Consulting News

Proximity acquires government sector advisory Alliance Consulting
Canberra-based consulting firm Proximity has marked its tenth year in business with the acquisition of government sector specialist Alliance Consulting.

| @Consultancy.com.au

Accenture Acquires Infrastructure Consulting Firm CS Technology - ChannelE2E
Accenture’s latest buy, CS Technology, will be rolled into Accenture Cloud First, boosting capabilities in infrastructure engineering.

| @CHANNEL e2e

Tencent Cloud and Boston Consulting Group Announce Strategic Alliance
/PRNewswire/ -- Enterprises around the world have been strengthening international collaboration in order to boost economic recovery in the post-pandemic era....

| @Cision

BCG and McKinsey join Center for Zero Carbon Shipping
Boston Consulting Group and McKinsey & Company are now among an illustrious group of partners supporting the Maersk Mc-Kinney Møller Center for Zero Carbon Shipping – aimed at cutting shipping emissi

| @Consultancy.eu

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This week’s media

After weathering the first phase of the pandemic in 2020 relatively well, communication service providers (CSPs) will enter 2021, facing a brave new world and many tough decisions to make – Christopher Antlitz@Technology Business Research

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Hélène Laffitte
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Hélène Laffitte is the CEO of Consulting Quest, a Global Performance-Driven Consulting Platform and author of “Smart Consulting Sourcing”, a step by step guide to getting the best ROI from your consulting. With a blend of experience in Procurement and Consulting, Hélène is passionate about helping Companies create more value through Consulting.

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