All Financial Institutions are experiencing increased scrutiny due to new regulations. One of the leading challenges now faced by banks is therefore compliance as they have to keep up with continual change to regulation. On average, most financial institutions are spending around 4% of their total revenue on managing compliance – this is compounded by … Continue reading “The challenge of compliance in the global financial services industry”
Crafted thoughts from the Craft…
Crafted Thoughts Blog
The challenge of digital transformation in the global financial services industry
For many traditional financial institutions they have never had to truly compete. There used to be a small number of players with a huge market audience. This is no longer the case – technology has enabled challengers. Challenger banks such as Monzo and Atom, are digitally enabled organisations which can supply customers with improved CX, … Continue reading “The challenge of digital transformation in the global financial services industry”
One month on from the launch of PSD2, who are the winners?
In the recent report, ‘Thinking like a Financial Institution’, we examine the main challenges faced by Financial Institutions in the technology-enhanced 21st century. One of the main challenges sited in the report is regulation, specifically Open Banking/PSD2 – a regulation forcing Financial Institutions to open up their data systems to third parties. This blog will … Continue reading “One month on from the launch of PSD2, who are the winners?”
Building a compelling proposition around digital transformation.
We’ve recently considered the following questions in relation to Digital Transformation. Click on the link the review our previous posts. What does transformation mean? How is transformation being implemented by businesses? Where have businesses reached on the digital transformation journey? By thinking about these three questions as a collective, we’ve developed some acid test points … Continue reading “Building a compelling proposition around digital transformation.”
Where have businesses reached on the digital transformation journey?
Not all organisations are in the same position on the journey towards a fully transformed digital state. As you’d expect, the question of where businesses are on the digital transformation journey is a very mixed picture: Many are aware of digital transformation, but haven’t pursued what to do about it. Some have adopted digital as … Continue reading “Where have businesses reached on the digital transformation journey?”
3 simple steps we take in any RFP or ABM situation (however complex)
If you’re targeting global manufacturers as a technology vendor, there are many challenges they can have that provide important clues to influence your positioning when proposing a solution or approaching target accounts. We can’t explore them all and we could go into much more depth on each of them, but there are 3 simple steps … Continue reading “3 simple steps we take in any RFP or ABM situation (however complex)”