Industries

Banking and Financial Services Transformation

 

Get closer to customers, drive operational efficiency and enable employees.

TopBar Map BottomBar
Top Story

Three Predictions that Will Power the Banking and Financial Services Market in 2024

It’s time to look forward for the Banking & Financial Services (BFS) industry. What can we expect in 2024?

Read more

Banking operations for a customer-obsessed industry

Let us help you find and implement the right technologies to improve your customer experience, optimize data and transform your business model.

Optimize Costs and Maximize Financial Transparency

Support your Technology Business Management journey to ensure business value is realized
Provide practical FinOps advice to drive better cloud economics
Benchmark your technology and operations costs against your peers to identify areas for improvement
Develop a new way of approaching cost optimization to make it sustainable and enduring
Design the optimal cost structure, including embedding a new cost culture and virtual cost center of excellence

Improve Employee Experience and Productivity

Measure, benchmark and track employee experience
Perform a skills assessment to identify the gaps and opportunities to improve
Enable employees and develop the optimal Learning & Development strategy, including Training-as-a-Service
Design and implement new ways of working, including the right talent strategy
Transform HR operations to improve employee engagement

Develop Next-Gen Supplier Strategy and Ecosystems

Provide insight into next-gen supplier strategies, including new ways of segmentation, tail spend consolidation, new sourcing models and innovative commercial structures
Advise on how to manage newly emerging ecosystems, including Banking as a Service, FinTechs, Big Techs, hyperscalers, niche suppliers, etc.
Provide third-party risk management assurance and optimized governance solutions
Advise on how to leverage emerging tech (such as GenAI) in contracts with suppliers for outsourcing and/or transformation
Provide insight into Global Capability Center strategy, including drivers, KPIs, commercial structures and supplier ecosystem
2023 Banking Industry Study

ISG Banking Industry Study

ISG's recent study shows the banking industry's top priorities are operational efficiency and customer experience.

Download the Summary      Contact Us for Full Access

Reinventing Bank Branches

Will most people go back to purely in-person banking? No. But the demise of bank branches is greatly exaggerated - a recent Celent report says that 77% of customers want to be face-to-face for substantive discussions about their finances.

Read ISG’s whitepaper to learn how to reimagine your #branchstrategy for the future of banking.

Read Here

Client Stories

APAC-based Bank Received ADM & Infrastructure Support

Jul 11, 2023, 16:35
A large APAC bank wanted to migrate to a next generation technology (ADM and infrastructure) contract and service. Find out how ISG helped.
Title : APAC-based Bank Received ADM & Infrastructure Support
Alternate title :
Section 1 Title Override :
Section 2 Title Override :
Section 3 Title Override :

A leading bank in APAC was a first-time technology outsourcer. The company’s objective was to improve service delivery based on performance and market strength service level agreements (SLAs).

It also aimed to achieve a flexible contractual relationship structure that would address its fluctuating capacity needs across infrastructure and applications.

  • ISG’s solution began with a rapid assessment, including recommendations for the most appropriate sourcing model across the whole technology environment.
  • We also reviewed an unsolicited proposal from a service provider, leading to a more favorable agreement for the bank and ensuring that financial flexibility was built into the agreement.
  • ISG then created the optimal governance model to manage the successful vendor on an ongoing basis.
  • In summary, using our unrivaled knowledge of the industry, ISG advised the bank on the optimal strategy for sourcing all technology including servers, mainframes, network and applications development and maintenance (ADM). ISG continued to support the bank during its transition, governance and vendor management.
  • The company received validation of the unsolicited proposal by a leading service provider, thereby identifying several financial and contractual gaps which were remediated to the significant benefit (financial and non-financial) of the bank.
  • It benefited from a best-in-class, market-strength and future-proofed outsourcing contract with flexible financial terms and an ability to control and decide technology needs.
  • The new contract enables a managed services model wherever appropriate wherein the service provider is accountable and SLA-driven, while the bank retains the important decision-making process.
  • The bank also leveraged ISG’s recommended effective governance mechanisms to ensure transparency and relationship/contract management. This was achieved via robust governance levers like relationship, performance and financial controls.
Categories :
  • Banking & Financial Services
Article flags :
bank adm and infrastructure case study bank adm and infrastructure case study
    Load more comments
    Featured Event

    Paragon Awards

    The ISG Paragon Awards™ celebrate the evolution of the sourcing industry through the application of new sourcing approaches and digital technology.

    Register now

    Meet Our Banking and Financial Services Team