financial services

Financial services

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Open banking: The beginning of a new era

Due to digital disruption, an important dichotomy erupts: banks have more interaction with customers than ever, but customers have many more choices to fulfill their financial needs. As customers prefer choices and experience over being locked into single suppliers, banks need to transform into...
Financial services

Loss prevention framework for insurance companies

An innovative approach to measuring and controlling risk

Innovative, homogenous and structured risk valuation approaches have played a unique role in reducing risk exposure and uncertainty surrounding insurance companies. However, market resilience, lack of information and specialty business require a tune-up in subjective and swung risk valuations. A...
Financial services, Strategy, Organization & transformation, Risk

Innovation in the Indian life insurance industry

Improving customer retention through predictive analytics

Predictive analytics provides the necessary tools to Indian life insurance companies to improve customer retention, optimize business processes and improve profitability.In India, there are 24 life insurance companies. Life Insurance Corporation of India (LIC), a Government of India-owned...
Financial services, Strategy, Organization & transformation

Setting objectives and measuring digitalization in

It’s time to re-examine the facts and adjust the course

Financial companies are investing in digitalization to improve operational costs and meet client expectations, but few can claim success. In this viewpoint we argue that a vast majority of companies seem to have started digitalizing themselves aimlessly, with no clear objectives of how they want to...
Financial services, Digital company transformation

Convergence of banking and telecoms

Will digitalization encourage cooperation?

Telecom operators and retail banks have been converging for years. As remaining barriers vanish and extrinsic factors push further convergence, banks will see increasing competition from telecom operators, which will aggressively enter into financial services, especially in transactional lines of...
Financial services, Telecommunications, Information technology, Media & Electronics (TIME)

Money's not all banks buy

Strategic Supplier Management for Financial Services Organisations

Purchasing, as a rule, is not part of a bank or insurance company’s core business. As a result, financial services organisations often underestimate both the risks associated with purchasing and the advantages of managing suppliers and product groups in a systematic way. Strategic management of...
Financial services, Operations management

Sleeker by Design

Cost-efficiency in the insurance industry

A survey conducted by Arthur D. Little ranks 50 major European insurance companies on cost-efficiency and takes a closer look at the strategies adopted by these top performers to achieve their high-ranking positions.
Financial services

@Banks: Stay Tuned With Your Customers

How Smart Financial Institutions Exploit the Communication Advantage

Two main ways could be undertaken: differentiate and renew value proposition with innovative services and products and make customers and their needs the focal point of the business model.Banks can effectively achieve these challenging targets implementing an innovative communication model that...
Financial services

Five Habits of Highly Efficient Banks

If, as shareholders recognise, cost-efficiency is an indicator of a well run bank, how can it be achieved? An Arthur D. Little survey found that Europe’s most efficient banks have important characteristics in common: very cost-conscious cultures with a focus on embracing revenue-creating costs and...
Financial services

Rethinking the corporate center

How to turn your corporate headquarters from a cost factor into true support for your business

Many financial services companies struggle when it comes to optimising support and back-office functions. Arthur D. Little proposes an approach resulting in corporate headquarters that many companies have never dared to imagine: business-focused, flexible, lean where possible, strong where...
Financial services