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Digitization initiatives are focused on fundamentally changing the entire banking technology stack, including reimagining the business with a customer-centric lens. Collaboration with external partners such as fintechs, advisors, third-party developers and other technology partners allows banks to join new value chains to create a banking ecosystem. If implemented correctly, this can wholly redefine how customers use banks to drive even greater value.

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Banking operations for a customer-obsessed industry

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Enhance the customer experience

Design the contact center of the future
Simplify and automate processes
Implement Agile product development & measure its impact
Design & implement the right Op. Model to drive speed to market
Design & implement the right CX strategy

Improve efficiency and leverage third parties

Modernize application & cloud strategy
Design next-generation sourcing & supplier ecosystem models
Monetize assets
Baseline key technology metrics against the market
Assess, recommend and implement automation

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productivity

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Design & implement new ways of working
Assess, recommend & implement the right collaboration tools
Training as a Service
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Featured Insights

A Request for Solution fuels the competitive process

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An Australian banking client selects a strategic partner and develops regional facilities and administration hubs.

Opportunity

Our major Australasian banking and finance client wanted to centralize its facilities and administration in centers of excellence to drive productivity improvements. After identifying a strategic partner with a local presence in Manila to provide an Asia Pacific processing hub, the client needed to conduct a competitive selection process.

Imagining IT differently

ISG analyzed the maturity of the facilities and administration outsourcing market and the relative capabilities of global service providers. After defining requirements that supported the client’s financial and business objectives, ISG conducted a request for solution for shortlisted service providers and managed the negotiation process.

Future made possible

  • Strategic partner selected, backed by SWOT analysis, negotiation strategy, implementation timing and business case, and set up for rapid implementation
  • 200 full-time employees onboarded; 50,000 hours of knowledge, 3,000 processes and 5,000 activities transferred
  • Document preparation, approval and negotiation time reduced by using ISG RFS statements of work, service level methodology, pricing methodology and other contract schedules
  • Rigorous competitive negotiation to ensure fitness for purpose, cultural fit and competitive pricing (including productivity targets and cost transparency)
  • Clearly documented statements of work, RACI responsibility models, and industry standard service levels
  • Increase in customer satisfaction from 65 percent to 72 percent

 

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Trends Shaping the Financial Services Industry

Important Factors for Digital Success

Client Stories

A Request for Solution Fuels the Competitive Process

Jul 20, 2021, 15:36
An Australian banking client selects a strategic partner and develops regional facilities and administration hubs.
Title : A Request for Solution Fuels the Competitive Process
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Our major Australasian banking and finance client wanted to centralize its facilities and administration in centers of excellence to drive productivity improvements. After identifying a strategic partner with a local presence in Manila to provide an Asia Pacific processing hub, the client needed to conduct a competitive selection process.
ISG analyzed the maturity of the facilities and administration outsourcing market and the relative capabilities of global service providers. After defining requirements that supported the client’s financial and business objectives, ISG conducted a request for solution for shortlisted service providers and managed the negotiation process.
  • Strategic partner selected, backed by SWOT analysis, negotiation strategy, implementation timing and business case, and set up for rapid implementation
  • 200 full-time employees onboarded; 50,000 hours of knowledge, 3,000 processes and 5,000 activities transferred
  • Document preparation, approval and negotiation time reduced by using ISG RFS statements of work, service level methodology, pricing methodology and other contract schedules
  • Rigorous competitive negotiation to ensure fitness for purpose, cultural fit and competitive pricing (including productivity targets and cost transparency)
  • Clearly documented statements of work, RACI responsibility models, and industry standard service levels
  • Increase in customer satisfaction from 65 percent to 72 percent
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  • Banking & Financial Services
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Featured Event

TechXchange: Banking, Financial Services & Insurance 2021

Watch the ISG TechXchange: Banking, Financial Services and Insurance replay to discover the trends that are defining the financial services industry today and in the future.

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