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Banking and Financial Services

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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

Increase employee
productivity

Measure, benchmark & track employee experience
Design & implement new ways of working
Assess, recommend & implement the right collaboration tools
Training as a Service
Measure, benchmark & track transformation

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Guaranteeing contract value

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A global financial services company hires ISG to ensure it is receiving its contracted services.

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Have I overpaid? Have I gotten everything I’ve paid for? Sourcing professionals need to know they’ve received the contracted service at the right time and at the right price. Our global financial services client asked us to compare the rate cards for their IT and business process outsourcing (BPO) service providers to ensure they were receiving value.

Imagining IT Differently
Imagining IT Differently

ISG compared the services being delivered from each geographical location and analyzed the client’s market, producing a leading practice view on how to structure the rate cards with pros and cons of the recommended approach.

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  • Identified $18.4 million in potential annual savings in an annual ITO spend of US$405.8 million
  • Identified $1.7 million of potential annual savings in an annual BPO spend of $35.1 million
  • Recommended improvements to the existing rate card structure to align with industry standards and provide greater granularity
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Guaranteeing Contract Value

Jun 17, 2021, 16:07
A global financial services company hires ISG to ensure it is receiving its contracted services.
Title : Guaranteeing Contract Value
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Have I overpaid? Have I gotten everything I’ve paid for? Sourcing professionals need to know they’ve received the contracted service at the right time and at the right price. Our global financial services client asked us to compare the rate cards for their IT and business process outsourcing (BPO) service providers to ensure they were receiving value.
ISG compared the services being delivered from each geographical location and analyzed the client’s market, producing a leading practice view on how to structure the rate cards with pros and cons of the recommended approach.

The results for the client included:

  • Identified $18.4 million in potential annual savings in an annual ITO spend of US$405.8 million.
  • Identified $1.7 million of potential annual savings in an annual BPO spend of $35.1 million.
  • Recommended improvements to the existing rate card structure to align with industry standards and provide greater granularity.
Categories :
  • Banking & Financial Services
  • Cognitive & Analytics
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  • active
  • case study
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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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Meet Our Banking and Financial Services Team