US financial services firms are among the worlds largest and best capitalized, representing nearly 10% of the US gross domestic product. They offer an assortment of services ranging from home loans and life insurance to investment and retirement services and help finance the activities of individual consumers and businesses.
However, conflicting local and federal regulatory requirements have increased operational complexity and costs, created confusion in the marketplace, and made products and services more costly to the consumer. In addition, governance and risk management, market reporting, and focus on growth have placed added pressures on executives.
Remaining competitive in such an environment is no small task–banking and financial services firms must plot a course through today’s business environment to achieve significant bottom line results.
Thomas Group helped a financial institution seeking to improve revenue, customer retention, and quality of service. By identifying reliable and accurate transaction processing and faster response in credit approvals as key areas for improvement, Thomas Group was able to help the client return its focus to more productive selling activities. When asked about Thomas Group’s contribution, a senior executive at the institution said, “Driving quality and speed has proven to be the right formula to improve profitability and to grow our business. It’s also given management and the whole team a new sense of direction, inspiration and confidence.”
With Thomas Group’s help, the institution was able to achieve significant results, allowing the sales organization to concentrate on more profitable, higher-revenue-generating, customer-focused sales activities. Results included:
Thomas Group is helping banking and financial services institutions achieve success by enabling them to focus on the most important business process–serving customers better. Our Resultants® can help financial services organizations turn challenges into opportunities in key areas of your business including growth, human capital, merger and acquisition (M&A) due diligence, governance and risk management, market reporting, and regulation and compliance.
Thomas Group works with financial services firms to implement process efficiency; build stronger and more enduring customer relations while enhancing market confidence, unlock human talent and creativity, use improved risk management processes that deliver more sustainable returns, and use new regulatory demands as a catalyst for strengthening the business.