Tom Spencer

AUGUST 2, 2024

When it comes to tech innovations, the banking sector is usually ahead of the curve. Banks are buzzing with excitement over Gen AI, and its future in the sector looks even brighter. Banks are buzzing with excitement over Gen AI, and its future in the sector looks even brighter.

Banking 88

Banking Data Trends Analysis 88

Tom Spencer

AUGUST 30, 2024

Open banking is transforming the financial industry , promising greater transparency, competition, and innovation. The European Union, which looks set to introduce updated rules about digital payments and financial services within the next two years, is at the leading edge of regulating open banking. What is Open Banking?

Banking 88

Banking Financial Data Industry 88

Tom Spencer

AUGUST 30, 2024

While Gen AI holds big promise for banking , most of the current deployments are limited to just a few areas or don’t go beyond the experimental phase. Though early pilots appear impressive, it will definitely take time to realize Gen AI’s full potential for the banking industry. Five Challenges for AI in the Banking Sector 1.

Banking 88

Banking Ethics System Data 88

Harvard Business

MARCH 8, 2017

There were many “pre-internet” players, for example telecom operators and cable companies trying to provide interactive multimedia over their networks, but none could generate enough traction to create names that you would remember. We may be seeing a similar trend for blockchain technology.

Media 191

Media Banking Financial System 191

Tom Spencer

MARCH 28, 2025

And its transforming how businesses operate. From summarizing lengthy documents to drafting emails and generating reports, LLMs can reduce operating costs by streamlining workflows and reducing manual effort. According to Accenture , more than 50% of work in the banking sector has a high potential for automation.

Productivity 88

Productivity McKinsey Data Training 88

Tom Spencer

AUGUST 16, 2024

Despite many current applications being small-scale pilot projects, the promise of Gen AI to revolutionise banking operations and enhance customer experiences is becoming clear. This helps banks to quickly identify profitable investment opportunities and risks so as to maximise investment returns and minimize losses.

Banking 78

Banking Financial Operations Data 78

Tom Spencer

OCTOBER 13, 2023

In the previous article , we looked at how banks make money and how they must meet capital requirements. In this article, we will explore the importance of profitability ratios and valuation metrics that are crucial when analyzing banks. It provides insights into how effectively a bank utilizes shareholder capital to generate profits.

Metrics 88

Metrics Banking Balance Sheet Efficiency 88

Harvard Business

NOVEMBER 22, 2016

Smart, always-connected devices and anytime/anywhere interactions are now givens, particularly among millennials, who expect such conveniences in banking and financial services. Mapping this group to its customer base, the bank can make targeted offers to customers who could be in the home or auto market in the next 30 to 90 days.

Banking 116

Banking Data Financial Media 116

Markovitz Consulting

APRIL 7, 2020

when the lean operating system she helped install enabled the staff at the Starbucks stores around Newtown, CT manage the chaos and trauma around the Newtown massacre. So, an initiative that was intended to create a consistent experience for the customer was actually creating slightly different operations in every store.

Operations 56

Operations Enterprise Banking Video 56

Tom Spencer

FEBRUARY 11, 2022

Learning how consulting firms operate can help you better understand what you would do as an analyst. He was a Product Management Intern at PNC Bank and is an incoming Innovation Development Summer Analyst at JPMorgan Chase. How do Consulting Firms Work? Imagine you are a CEO of a Fortune 500 business in the technology industry.

Operations 88

Operations Consulting Boston Consulting Group Industry 88

Tom Spencer

JUNE 30, 2023

The financial services industry comprises firms that operate across a range of sectors: Asset & Wealth Management, Banking & Capital Markets, and Insurance. Distribution Channels The wealth management landscape consists of a range of distribution channels, ranging from high touch (i.e.,

Banking 78

Banking Management Real Estate Insurance 78

Tom Spencer

JUNE 16, 2018

Before we dive into why AI is the solution for the banking sector, let’s first explore what big tech companies have in common, how many of them have grown successfully, and what banks can learn. Usage of AI in the Banking Sector. Table 1: AI applications across Canadian and US banks (Source: Financial Post, Techemergence).

Banking 84

Banking Financial Transportation Data 84

Management Consulted

AUGUST 1, 2013

After building a successful model in financial services, Oliver Wyman expanded to offer pure strategy consulting services to non-financial services groups and now has 2 internal divisions that operate relatively independently. Corporate and Institutional Banking. Retail and Business Banking. Oliver Wyman became own firm again.

Oliver Wyman 201

Oliver Wyman Interviews Mercer NERA Economic Consulting 201

Harvard Business

JULY 28, 2016

Across Africa, banking is being redesigned. Technology has emerged as a competitive weapon in driving operational excellence and superior service quality. While the banks compete among themselves, they face existential threats from amalgam of entities, not necessarily possessing bank licenses.

Banking 70

Banking Industry Telecommunications Productivity 70

Management Consulted

JULY 22, 2013

From the variety of work and access to C-level executives to the wide array of exit opportunities, strategy operations consulting far surpassed financial advisory consulting as our recommended career to pursue. Find it here: 5 reasons to choose strategy operations over financial advisory consulting. Missed part one? Well…sure.

Financial 194

Financial Consulting Strategy Strategy 194

Consulting Matters

SEPTEMBER 30, 2020

I asked my partner Jen Hamilton - our community Chief Operating Officer to be my guest today and share all the deets on the what you'll need and how much it all costs so that you can plan in advance for both the startup and ongoing costs. It matches the bank account. Then you're going to LOVE this week's tutorial video. Next Steps: 1.

Consulting 296

Consulting How To Insurance Insurance 296

Harvard Business

NOVEMBER 16, 2023

banks) and away from suppliers — unsecured creditors who are not viewed as a primary provider of corporate debt. After a company petitions for bankruptcy, its attention often shifts toward debt providers (e.g., New research cautions against such shift in attention.

Research 188

Research Company Banking Operations 188

Harvard Business

OCTOBER 24, 2016

Large investors rely on an assortment of intermediaries to help them with their investment activities, including asset managers, such as hedge funds, investment banks, and consultants. As a result of this deepening disruption, the ways in which companies are valued and capital gets allocated could change forever.

Operations 70

Operations Finance Media Financial 70

Harvard Business

MAY 16, 2016

The current mantra is “Move fast with stable infrastructure”, which speaks to the organizational design challenge of operating at scale in a fickle and volatile world. ” It further revealed a complex and siloed organization, with competing operating assumptions, values, and practices across the group.

Banking 132

Banking Film Strategy Strategy& 132

Tom Spencer

OCTOBER 17, 2020

Digital currency may also help to lower transaction costs, and make it easier for central banks to intervene in the economy. While it is not explicitly used in the monetary system, it is widely held by central banks, and is easily convertible into cash. Central banks will have the ability to print too much of them.

Banking 142

Banking Government Policies Financial 142

Harvard Business

SEPTEMBER 14, 2018

Ever since the forced bankruptcy of the investment bank Lehman Brothers triggered the financial crisis 10 years ago, regulators, risk managers, and central bankers around the globe have focused on shoring up banks’ ability to withstand financial shocks. Peter Dazeley/Getty Images.

Financial 130

Financial Banking System Resumes 130

Harvard Business

OCTOBER 6, 2016

The bank has since fired 5,300 employees for the illegal behavior and eliminated retail bank sales goals entirely. As a result of this fraud, the bank is now being investigated by Federal prosecutors and Congressional overseers. Even now, Stumpf adamantly refuses to hear criticism of the bank’s culture.

Leadership 128

Leadership Banking Ethics Culture 128

Management Consulted

APRIL 2, 2017

McKinsey is still well-networked in the region, and doing substantial work in sectors including: banking, industrials, telecoms, energy, real estate, construction, health care, and diversified conglomerates. If you have an MBA and are interested in actuarial work, EY’s Middle East operation is a great place to get your foot in the door.

Oliver Wyman 160

Oliver Wyman Consulting Deloitte Real Estate 160

Harvard Business

AUGUST 25, 2021

Insights from a two-year study at one of Europe’s leading banks.

How To 164

How To Banking Study Operations 164

Harvard Business

AUGUST 29, 2018

” (IAG is the parent company of a general insurance group with operations in Australia, New Zealand, Thailand, Vietnam and Indonesia.). The pattern has again been discovered at several expensive Australian restaurants operated by high-profile and well-off chefs. They’ve been caught short-changing their employees.

Banking 119

Banking Financial Operations Culture 119

Strategic Planning and Management Insights

MARCH 29, 2023

There are so many things to consider: The field your company operates in, and how quickly it changes, affects the complexity, length, and scope of your strategic plan. As a business leader, you know that creating and implementing an effective strategic plan can be overwhelming.

Banking 97

Banking Strategy Strategy Strategy& 97

Consulting Matters

JANUARY 29, 2020

In the past you operated in a compensation model where you do work and then get paid. Now you're operating in a return on investment model where you invest your money, time and talents in your business with the expectation of a return. When I started my business, I was a single mom with only $200 in the bank.

Consulting 177

Consulting How To Talent Training 177

Harvard Business

DECEMBER 17, 2018

Questions like this involving issues like politics, human rights, or equality often present themselves sooner or later for any business operating in global markets. First, consider short-term profits and sanctions, and the cautionary tale of French bank BNP Paribas. The compass that was guiding the bank was a financial one.

Government 132

Government Financial Banking Operations 132

Harvard Business

OCTOBER 9, 2017

Subordinates can change the power dynamics by engaging in two types of power-balancing operations. We examined abusive supervision and the influence of these power-balancing operations in two field studies. They can decrease their dependence on the supervisor or increase the supervisor’s dependence on them.

Research 179

Research Real Estate Study Resources 179

Harvard Business

APRIL 23, 2018

For example, when Jungkiu Choi moved from Singapore to China to start his gig as head of Consumer Banking at Standard Chartered, he learned that one of the cultural expectations of his new job was to visit the branches and put pressure on branch managers to cut costs. Branch staff would spend weeks anxiously preparing for the visit.

Leadership 167

Leadership PricewaterhouseCoopers Banking Examples 167

Harvard Business

MARCH 22, 2018

My perspective and approach to misconduct risk are influenced by my work as a bank supervisor, and by my background and training as an economist. In my view, bank supervision must include attention to the culture at financial firms, not just to their financial safety and soundness.

Culture 133

Culture Company Financial Banking 133

Harvard Business

JUNE 14, 2017

And yet front-line employees are still often left operating with data that’s “too little, too late.” Another example comes from Royal Bank of Scotland (RBS). The company went through a transformation focusing on becoming a more trusted advisor to the customer than a typical bank would be.

Data 127

Data Banking Sales Accenture 127

Harvard Business

AUGUST 29, 2016

But our interviews with board members and CEOs in the banking industry—and decades of research on experts and teams—point to three factors that can compromise the effectiveness of expert-dominated boards, at least in some circumstances. Common sense might suggest that the more experts, the better.

Telecommunications 126

Telecommunications Banking Industry Research 126

Harvard Business

JUNE 22, 2016

They include new enterprises such as Orbian , Prime Revenue , C2FO , Taulia , and Ariba as well as new operations launched by traditional financial service firms such as Citi Group, HSBC, BNP Paribas, and Deutsche Bank. Operations in a Connected World. the supplier gets $9,959 of the $10,000). Insight Center.

Transportation 129

Transportation Finance Financial Banking 129

Harvard Business

MAY 25, 2017

On November 9, 2016, the shareholders of Australia’s largest company, and the world’s tenth-largest bank , revolted. Other firms have ventured down this path, including the conglomerate Wesfarmers , with its 200,000-plus staff, and the global hospital operator Ramsay Health Care.

Financial 119

Financial Banking Metrics Benchmarking 119

Asamby Consulting

JANUARY 13, 2022

Why you need a COO or Operations Manager. Either their operations have grown quite a bit or they are in the midst of growing. Many founders and CEOs ask us this question: Do I need an operations manager? But there are a few questions: Why is it necessary to hire an operations person? We answer with a resounding yes.

Operations 52

Operations Management Methodologies Report 52

Tom Spencer

MAY 18, 2019

Due to the steady nature of the business (taking a percentage of assets under management each year is a pretty sweet deal), asset managers have a business valued more like a basic corporate than other financial institutions such as banks and insurers. Operating Margins. Image: Pexels.

Industry 113

Industry Real Estate Management Retail 113