With decades of experience in the banking sector, our Financial Services team has a deep and thorough understanding of the industry.
Our whitepapers delve into the challenges and opportunities for banks and other financial services firms; taking a closer look at the impact of various factors and how firms can manage and capitalise on these, and exploring the importance of a well-considered strategy.
Designing strategic dexterity (June 2024)
The UK’s has built its success as a leading financial services centre based on its reputation for innovation, new technology, and entrepreneurial spirit. And an open approach to regulation has supported this position. After the financial crisis of 2007-8, UK firms are in good shape with strong capital reserves and liquidity, evidenced by much more stringent stress tests.
How can Wealth Managers futureproof themselves in a changing industry? (November 2022)
Technology has changed society over the last 30 years, however, as a sector that prepares clients for the future, the wealth management industry has been slow to adapt itself. Our Financial Services team pose the question, how can Wealth Managers futureproof themselves in a changing industry?
Net Interest Margins and Product Diversification: making a comeback (October 2022)
The financial crisis (2007-09) unearthed several fundamental issues in the UK banking market, propelling banks, and the regulators, to prioritise a sustainable ‘back to basics’ business model. Our Financial Services Consulting team share their views on what banking institutions should consider to diversify their income sources and manage their business through more volatile future economic cycles.
Buy Now Pay Later - good, bad or ugly? (April 2022)
Buy Now Pay Later schemes have not been far from the headlines in recent years and for some, these products have solely negative connotations, particularly following in the wake of other consumer credit products such as High-Cost Short Term Credit. However, is it really all bad news or do they offer some positives for users and the wider economy?
Worthwhile projects need parenting - part two (November 2021)
In part one of the series of whitepapers from our Financial Services team, they made a comparison between good holiday planning and mobilising a significant change project at work. Key elements for success exist in both and they concluded that worthwhile projects need parenting! Where our first article looked at the mobilisation phase of a project, our second article, looks at implementation and continues the analogy.
Worthwhile projects need parenting - part one (September 2021)
As the summer holiday season draws to a close, our Financial Services team compare good holiday planning and mobilising a significant change programme at work. On the back of these musings our conclusion is that there is a strong parallel, as the key elements for success exist in both. Common themes between holidays and programme mobilisation include deciding where to go, planning key aspects of the journey and ensuring potential disasters are anticipated and mitigated.
Open Banking - coming of age (August 2021)
As we reach the fifth birthday of Open Banking’s conception, and in light of the Competition and Markets Authority (CMA)’s recent mandate on ‘sweeping’, it seems an opportune time to reflect on progress to date as regards adoption of Open Banking, and also some key factors that may be attributable to holding back its success.
Four Horsemen of the (financial) Apocalypse (August 2021)
The Four Horsemen of the Apocalypse imagery has captured the imagination of many, including academics, artists, writers and movie producers and are symbolic to many as the harbingers of impending doom. This article borrows that metaphor to consider aspects on the horizon that threaten the future of Financial Services.
Mergers & Acquisitions - on the brink of a boom (July 2021)
If you plot global Mergers & Acquisitions (M&A) activity over time, a very clear pattern emerges - economic downturns are followed by spikes in M&A. Focusing on the UK alone, the Institute for Mergers, Acquisitions and Alliances (IMAA) data reveals exactly the same trend: with the five increases in M&A activity (in 1986, 1994, 2003, 2009 and 2014) each linked to an economic crisis.
Gradually, then suddenly (May 2021)
Arguably, the last decade has seen the financial services sector facing the most fundamental attack that it has faced in over a century, due to technological changes leading to new competition and driving swings in consumer behaviour. Looking in more detail at obsoletion, we begin by examining the key threats to financial services firms and finish by providing a strategic framework which can be used to avoid long-term decline.
The bank closure foxtrot - fast, slow, and then fast again (April 2021)
UK Banks are facing a post-COVID identity crisis, and it’s essential that they think hard about completely discarding their physical outlets if they wish to stay relevant in the future.
Coronavirus - a catalyst for change in the banking industry (April 2020)
This whitepaper sets out how banking business models have evolved since the financial crisis, the likely impacts on current business models from COVID-19 and the strategies that UK banks and building societies should be considering to create resilient future business models.
Open Banking - a description and interpretation (December 2019)
Open Banking allows consumers to view their financial information from multiple providers within one location, saving them time and affording ease of access to information. Nearly two years since “go-live” how well is Open Banking being adopted by the key players and is it seen as a route to innovation or merely a compliance burden?
Commercial Partnerships - what can banks learn from the Roman Empire? (October 2019)
Not so long ago, FinTech and InsurTech firms were thought to present an existential threat to traditional financial services providers and their market share. ‘Adapt or die’ became the mantra. The realisation has come that there is more to be gained by working collaboratively together than there is from competing. However, partnerships can be very difficult to launch and make successful if a well thought through strategy and plan is not in place or followed.
