Financial Services
Collaborative Consulting understands the drivers, needs, and opportunities within the Financial Services industry. We have established skills, experience, and solutions in this arena to help banks, investment management firms, lending institutions, wholesalers, and other financial services entities drive business value through their business and technology initiatives.
The Financial Services industry faces unique challenges today. Consolidation of financial services business lines into ‘super-malls’ of financial services, despite different heritages of banking, wire house, lending and insurance, both change the composition of the industry as well as drive complicated internal challenges. Commoditization of core banking and lending products drive many providers to focus on high-net-worth and other high-value products, all of which are more difficult to serve, while those who wish to compete in commoditized services must continually innovate to find new cost reductions to improve margins. The advisor-client-company relationship is getting more complicated, not simpler, often creating confusion on “who is who’s customer?”. Customer demands are changing, as they look for better experiences, more visibility and better integration of financial information. These issues and others frame the strategic conversation among Financial Services operational leadership.
Looking forward we understand many key opportunities and challenges to consider. These include:
- Legacy systems still key to core business, yet must be brought forward into new applications
- Process simplification is critical to the bottom line, both as a cost reduction strategy and user experience tactic
- Data quality extends beyond any one system and grows more and more critical to new applications
- Current system environments are often monstrously complex, yet need to be leveraged in smart ways going forward
- System reliability and data accuracy are paramount in investment transactions, financial reporting, and compliance data
- As more functionality moves to the web (for both customers and advisors) the more extensible new technologies must be in the foundation
- Risk management is paramount in today’s environment and will continue to grow in importance
- Service oriented architectures are being embraced within the industry
Collaborative Consulting brings specific solutions to Financial Services organizations. These solution include:
Business architecture for the Financial Services Industry services focus on your business strategy enablement and business process articulation, implementation, management and improvement. >> More
Business intelligence for the Financial Services Industry services focus on harnessing your enterprise information to provide insight into business performance and empower business decision-making. >> More
IT architecture & implementation for the Financial Services Industry services translate your business goals and needs into an optimal solution design and plan for technology build out and operations. >> More
Data integration for the Financial Services Industry services focus on linking your disparate systems and data to improve their value, performance, usefulness, and functionality. >> More
Software quality & performance for the Financial Services Industry services drive improvements into your existing and planned applications, such as improving their quality, reliability, capacity, and performance. >> More
Program & project management for the Financial Services Industry services enablesyou to successfully manage complex projects and groups of projects using formal project portfolio management practices and techniques. >> More