Financial Services
Navigating the Challenges of the Financial Services Industry
Regulatory compliance requirements are driving Financial Services firms to leverage Business Analytics to meet the increasing demands for more consistency in statutory compliance reporting and for more transparency into the underlying data, calculations and assumptions that are the basis for filings. Visionary firms take it a step further, however, and leverage increased statutory demands as a catalyst to get ahead of competition.
Financial Services Value Chain
Sales & Distribution
Today’s consumer is increasingly educated and well-connected. In order to compete, companies must be nimble, transparent and instantly accessible. Building effective handoffs between AI and human interactions are key. Identifying areas with highest conversion rates and driving investment to those areas will grow the book/portfolio.
Product Management & Underwriting
Analytics and warehouses underpinned by financial ERP & core systems provide a more complete view of the customer and allow Financial Service institutions to begin identifying areas for new products, offerings and innovation.
Client-Related Billing & Payments
Technology provides clients with flexible billing and revenue recognition that allows businesses to accelerate transformation while building the “one view” of the customer.
Margin & Profitability
Understanding the profit margin for each offering is essential to achieving growth targets. Financial services companies can improve margin with increased transparency behind drivers of expenses.
Talent Management
Effectively managing talent across the lifecycle of recruiting, onboarding, and career exploration, particularly for a younger workforce, will be paramount for evolving into the digital age of financial services. The youngest workers are placing increased emphasis on automation of the mundane & operational excellence.
Sales & Distribution
Today’s consumer is increasingly educated and well-connected. In order to compete, companies must be nimble, transparent and instantly accessible. Building effective handoffs between AI and human interactions are key. Identifying areas with highest conversion rates and driving investment to those areas will grow the book/portfolio.
Product Management & Underwriting
Analytics and warehouses underpinned by financial ERP & core systems provide a more complete view of the customer and allow Financial Service institutions to begin identifying areas for new products, offerings and innovation.
Client-Related Billing & Payments
Technology provides clients with flexible billing and revenue recognition that allows businesses to accelerate transformation while building the “one view” of the customer.
Margin & Profitability
Understanding the profit margin for each offering is essential to achieving growth targets. Financial services companies can improve margin with increased transparency behind drivers of expenses.
Talent Management
Effectively managing talent across the lifecycle of recruiting, onboarding, and career exploration, particularly for a younger workforce, will be paramount for evolving into the digital age of financial services. The youngest workers are placing increased emphasis on automation of the mundane & operational excellence.
Financial Services Insight
The Financial Services industry is facing increasing pressure to meet regulatory compliance requirements and maintain customer trust. To address these challenges, many Financial Services firms are turning to Business Analytics and Enterprise Performance Management solutions. By leveraging these tools, firms are able to provide more consistency in statutory compliance reporting, increased transparency into underlying data and calculations, and improved risk management. At Peloton Consulting, our team of experts works with Financial Services clients to develop and implement effective solutions that not only meet regulatory requirements, but also drive efficiency and increase competitiveness in the market.
Austin Chappell
Financial Services Portfolio Group
Customer Success
