Crafted Thoughts Blog - The Craft Consulting

The big PSD2 challenge for global banking institutions

The CraftApril 6, 2018April 6, 2018Account Based Strategy, Strategic DifferentiationABM, banking, financial services, PSD2

Most large financial institutions are having to compete with new challengers in the banking world but increasingly regulation is forcing the financial services marketplace to open up. The latest EU legislation is PSD2 (Second Payment Services Directive), which forces banks to open up their vast data siloes to third parties. The fear for many of … Continue reading “The big PSD2 challenge for global banking institutions”

The challenge of compliance in the global financial services industry

The CraftMarch 22, 2018March 22, 2018Account Based Strategy, Strategic DifferentiationABM, banking, financial services

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”

The challenge of digital transformation in the global financial services industry

The CraftMarch 6, 2018January 3, 2019Account Based Strategy, Strategic DifferentiationABM, banking, financial services

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?

The CraftFebruary 26, 2018March 27, 2018Change Consultancy, Strategic Differentiationfinance, financial services, OBE, Open Banking, Open Banking Economy, PSD2

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?”

3 simple steps we take in any RFP or ABM situation (however complex)

The CraftNovember 3, 2017November 3, 2017Proposition Development, Strategic DifferentiationABM, Account Based Marketing, Account Based Strategy, Manufacturers, positioning, RFPs

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)”

3 common challenges manufacturers face that IT vendors often overlook

The CraftOctober 16, 2017October 16, 2017Proposition Development, Strategic DifferentiationIT Vendors, Manufacturers, Proposition development, Technology Suppliers

Putting yourself in the position of your customers to truly understand their challenges is key to planning how to engage them. Without this perspective, opportunities to adjust or correct the approach can easily be missed. Here are three challenges that global manufacturers commonly face that their existing and would-be suppliers regularly overlook: Challenge 1: Protection … Continue reading “3 common challenges manufacturers face that IT vendors often overlook”

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