Banks are improving their distribution systems to focus on sales, customer experience and guided selling rather than transaction processing, including a shift away from transaction processing systems and toward sales platforms, such as mobile and online channels. In addition, new regulations will require new systems and processes, new data recording and reporting. With a focus on improved competitive capabilities, these systems can be devised in such a way that they bring operational benefits and efficiencies. Such benefits include product enhancement and redesign, cost restructuring, relationship focus, precision pricing, select customer acquisition, and M&A.
The banking sector is entering a significant period of comparatively constrained returns and profitability. Therefore, it is the more important to identify actions which can cut costs, boost margins, increase flexibility and promote operational excellence.
How we can help
KPMG has significant expertise and depth of knowledge in helping banks and other financial institutions improve operational efficiency and leadership. We are able to analyse clients’ business model to help them understand practical and financial implications of proposed operational transformation, and to develop strategies for dealing with such implications. We also are closely linked into cutting edge customer strategies and offerings in the Digital form.
If you would like to find out more about the implications of operational efficiency related matters please do get in touch – we’d be delighted to discuss how we can help.