More demanding customers combined with an increasingly competitive market and a continually evolving regulatory environment are forcing financial services companies to rethink service delivery and operating models.
This is why so many organizations are turning to our market proven transformation expertise, combining the fundamental principles of Lean with cutting-edge digital technologies, to embrace continuous improvement, optimize processes for delivering customer value, and gain a competitive edge.
At FP, our approach starts and ends with the customer’s perception of value: What they are prepared to pay for. Any process that does not add value is defined as waste and should be reduced or eliminated. Whether the focus is reducing lead time, managing the supply chain, improving quality, cutting costs, or boosting employees’ motivation, every change satisfies one key criterion: It must benefit the customer.
For financial services businesses, from banks and lenders, to insurance companies and finance providers, the focus is on delivering high-quality customer experiences while improving operational efficiency and reducing costs. In today’s age, providing quality experiences means having the adaptability and competitive intelligence to embrace and enable customers with new technologies. But to have the capacity to create high-quality customer experiences, your first have to fix your underlying operational inefficiencies.
Solving inefficiencies, reducing operating costs, and mitigating risk provides organizations with the proper platform for agility and innovation. This is the true power of our approach - aligning financial goals with the needs of customers, employees, and managers, to transform financial services organizations from the inside-out and deliver tangible benefits to the bottom line.
What’s more, our approach empowers employees to own and optimize the processes they follow – meaning that rather than relying on external consultants to solve problems, employees engage in a sustainable, lasting practice of continuous improvement that delivers lasting change for your business.
In the face of increasing regional and international banking regulations, compressed margins, and changing capital adequacy standards, banks are looking for a more adaptable, transparent approach to business.
Since the heydays of investment banking seem to be over, attention is again turning to the retail side of banking to deliver steady profits and stable funding that banks need to regain the support of investors. It seems that the timing for retail banking is right to regain attention, since consumers are evidently changing their ways of interaction with retail banks through the use of mobile technology. Yet a central discussion point remains: the future of the bank branch. Will branches, who have been prematurely reported dead several times over the last decades, join the same fate as book stores, music stores and travel agents which keep on disappearing from high streets globally? Or is trust still paramount in retail banking, where people will leave their savings only with banks that have a vast network of branches symbolising their stability?
Empower your business for the digital age with our expert guidance
Our vision is to be the highest quality and most reliable partner for our clients on their lean journey to become the most efficient and effective competitors in their industries.
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