Services

Industry Solutions

Banking to Success

Financial ServicesThe pace of change in the competitive world of retail banking is accelerating all around the world. Every bank is in the race to win more customers and more business in a landscape of savvy consumers, tight compliance oversight and intense competition. Numerous critical issues facing financial institutions today are affecting all levels of their organization. As the industry continues to address regulatory reforms, complex reporting requirements, implementation of cost-effective technologies, stakeholder scrutiny, talent acquisition and retention; a new strategic roadmap is necessary to ride the waves of change and seize the opportunities that will lay the foundation for a bright future.

A key to overcoming these challenges and building a strong competitive advantage is to find an informed perspective that can help organizations swiftly respond to change and best position themselves to win in the marketplace. This is where TwentyEighty Strategy Execution can help. We have been partnering with organizations around the world to address their most pressing business issues. Our portfolio of clients covers the depth and breadth of the industry ranging from global banking giants to regional financial services companies.

Financial Services Industry Drivers and their Impact on Project Performance

While every organization has its unique business challenges, TwentyEighty Strategy Execution’s extensive research and practical work with leading banks has allowed us to aggregate these business issues into four definitive drivers that distinguish the industry today. Looking at the industry through our project-tinted specialist’s lenses, we have determined that the following drivers impact the skills requirements and competencies development of the project community most critically. Our clients have extracted significant value by focusing on these select project performance areas.

Shifting Revenue and Distribution Models

Improving the overall customer experience is a priority for most banks. The product-focused approach, much favored by banks previously, is giving way to customer-centric models that deliver multi-channel access, product simplicity and seamless integration across service lines. To provide customers with the convenience and personalization expected, banks will need the capability to analyze internal and external sources of data and deliver relevant solutions at the time and point of need. The traditional branch model will give way to new distribution channels as banks experiment with a mix of assisted self-service, in-store branches and full service centers. To succeed in such a dynamic environment, banks will need to fearlessly explore and adapt to new approaches, alliances and solutions.

How we can Help

Banks need agile product and technology development to bring new products and capabilities to market much quicker than the current pace. This requires continual iteration, real life pilot testing and rapid learning from customers. However, effective agile project management requires organizational commitment and focus. Over the years, TwentyEighty Strategy Execution has assisted clients through the process of shifting to agile project management and provided them with the organizational and individual capabilities required to successfully implement and maintain agile methods. Core focus areas include:

Risk, Regulation and Compliance

The growing complexity of industry regulations coupled with less flexibility to meet compliance requirements is causing a massive shift of IT and project resources within financial services. Rather than focusing on building systems to support new innovative approaches to the business, valuable resources are diverted toward time sensitive, high-consequence compliance projects. As banks increasingly take a more proactive approach to compliance, they will begin to incorporate compliance risk management into every project and tighten their resource management processes.

How we can Help

Banks need to establish strong risk management and resource management processes within their project environments if they are to successfully manage the complications that arise from compliance initiatives. TwentyEighty Strategy Execution helps build these capabilities in our clients by providing content and services around the following focus areas:

Cost Efficient Operations

Managing costs while supporting growth in a tightened risk management environment is a big challenge to financial institutions and requires robust systems and efficient operations to succeed. In order to create a sustainable business advantage, banks will require a well-defined IT strategy supported by strong project portfolio processes to optimize IT operations and infrastructure investments. Additionally, the IT organization will need to beef up its sourcing and off-shore management capabilities in order to successfully develop more flexible business operations systems while effectively managing costs.

How we can Help

TwentyEighty Strategy Execution has been helping organizations manage their IT strategy through the development of effective project portfolio management capabilities. From portfolio analysis to project prioritization and selection, TwentyEighty Strategy Execution provides learning solutions to keep organizational objectives aligned to operational capability. Additionally, we have an extensive sourcing and contracting curriculum focused on building consistent organizational capabilities to manage the entire procurement process from vendor requirements through contract close out.

Human Capital Productivity

The re-allocation of resources to meet regulatory requirements coupled with cost efficiency measures to offset reduced revenue have left many banks under-equipped to deliver on growth expectations. In this environment, it is critical to maximize the productivity of existing talent through thoughtful human capital development. A recent TwentyEighty Strategy Execution salary and development survey revealed that project management training initiatives generated an average ROI of 268% across industries. Given the size and complexity of projects inherent to the banking industry and the impact of cost overruns, the estimate is conservative and actual ROI for banks will likely fare even better.

How we can Help

Our singular focus is to help our clients build project-focused competencies. After three decades of working with project organizations in the world’s largest enterprises, we are capable of enabling clients to build organizational excellence in the following areas:

 

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