To succeed today banks need a renewed focus on imperatives such as the customer new operating models and effective divestitures/ mergers and acquisitions. We can help with a range of business solutions outsourcing services and softwareThe industry is taking a hard look at profitability and performance. The spotlight is on developing new products and revenue sources and organizations will require carefully crafted business strategies to address the effects of regulatory reform technology change competitive dynamics and market movements. Our experienced professionals provide a wide spectrum of audit consulting finance tax and risk services to clients in every sector of the banking and securities industry.
We help our clients create value through our unique banking services.
Digital disruption is occurring at every level in the banking industry. From new technology to new competition to heightened customer expectations, incumbent banks have become increasingly vulnerable.
Banks must now think in new and innovative ways, or risk becoming a mere back-office utility. We estimate that different business models could impact up to 80 percent of existing banking revenues by 2020.
Business process outsourcing, or BPO, is a business practice in which one organization hires another company to perform a task (i.e., process) that the hiring organization requires for its own business to successfully operate.
BPO has its roots in the manufacturing industry, with manufacturers hiring other companies to handle specific processes, such as parts of their supply chains, that were unrelated to the core competencies required to make their end products.
A core banking system is the software used to support a bank’s most common transactions.
Elements of core banking include:
Core banking functions differ depending on the specific type of bank. Retail banking, for example, is geared towards individual customers; wholesale banking is business conducted between banks; and securities trading involves the buying and selling of stocks, shares and so on. Core banking systems are often specialized for a particular type of banking.
Products that are designed to deal with multiple types of core banking functions are sometimes referred to as universal banking systems.