The banking industry is being challenged by the significant costs of regulatory compliance, new competition from innovative technology companies and start-ups, and evolving customer needs and behaviors that make it difficult to maintain loyalty. In addition, customers’ perceptions of the banking industry have changed due to the negative publicity associated with the economic downturn. To overcome these challenges, banks’ operational strategy and effectiveness efforts must balance cost reduction with efforts to address regulatory compliance and enhance the customer experience.
How Navigant Can Help
Navigant recognizes that forward, innovative thinking combined with impactful strategies and efficient operations are essential to respond to rapidly changing markets, technologies, and regulations. We understand that sound operational management goes beyond daily business requirements in helping to increase competitive advantages and compete with industry leaders.
As an independent and objective advisor, Navigant is regularly retained by financial institutions to review their operations and identify, understand, and solve operational challenges.
Navigant helps our clients assess their current operational strategy against leading industry practices and their desired objectives. Our teams make recommendations to employ proven methodologies to help financial institutions define their operational effectiveness objectives, assess their current state, and implement changes to improve the efficiency and value of their operations.
Navigant offers holistic operational strategy and effectiveness services to help our clients attain efficient, reliable operations, systems, policies, and procedures that reduce the cost of doing business, ensure a consistent and positive experience for customers, and maintain regulatory compliance. Our services include:
Business Model Transformation and Operations Strategy
Process and Productivity Improvement
Business Analytics and Management Reporting
Outsourcing and Offshoring Strategy Analysis and Development