Banking and Financial Services
The Australian Banking and Financial Services sector is very driven to meet new regulatory reporting and new product requirements. Under continuing cost pressure, the sector is constantly challenged with rising expectations of the availability of accurate data at a time, place, and platform of the customer’s choice – which only adds to the mounting pressure.
Our experience with working with this sector tells us that bringing new products and/or services to market, as well as transformation, were key drivers forcing organisations to address unreliable data, along with the strain to meet the requirements of regulators.
The presence of unreliable data within this sector results in an inability to meet needs, share data effectively, and a widespread problem of poor data ownership and differing views of the same data. Managing large amounts of data is very costly, and if that data isn’t tightly linked to real business outcomes, waste will continue.
We apply our approach to information management strategy with a depth of knowledge and expertise in retail banking, wholesale banking, and general insurance. In retail banking, much of the work we do is in the areas of master data management, data warehousing, data marts and reporting solutions. We work with clients to improve the application of their information to:
- Increase customer loyalty, customer satisfaction, share of wallet and CAGR; and
- Improve custome churn management, credit risk management, and customer decisioning.
In wholesale banking, we have developed niche expertise in the systems and processes around FX, derivatives, market risk, investment banking, and deals. We provide information management strategy, warehousing, reporting, data integration, and testing capabilities to our clients. With our insurance clients, we deliver industry-specific information management and a business intelligence solution together with process optimisation, CRM, niche marketing, and data/systems integration.
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