It only appears to be a question of time until mobile payments form part of our daily lives, given that it is […]
Reaching a Business Model Transformation
In response to the financial crisis and current economic environment, banks continue to strengthen their balance sheets and are transforming their business models to reduce costs and gain competitive advantage.
Many banks have recognised that the industry is facing a radical shift and that incremental changes are no longer a feasible option. Indeed, a major overhaul of the industry is required to respond to the new environment. A few banks have already announced bold strategies, for example, Barclays have made clear that they want to break from the previously accepted paradigms and cultural values. So, their strategy is to re-build trust and become a customer centric bank. This shows that apart from just taking a financial view, customer experience is one of the key drivers to help banks build their brand.
Customer demands and behavioural habits in their banking relationships are increasingly demanding. Customers want a secure, convenient and familiar experience when they interact with their bank. They also want to be able to pick and choose which channel to use and sometimes more than one at the same time.
Understanding and satisfying customers´needs
It is important that banks deliver an integrated channel experience to customers. Integrated and omni-channel experience remains an important goal for banks focusing on their customers’ needs.
As a result, banks need to invest in understanding the customer journey across each channel, to improve their process, products and systems, in addition to enhancing the customer relationship at each customer contact. Through achieving these goals, banks will better position themselves for long term profitable relationships with customers, by matching enhanced value and service with the customer need.
AXIS CORPORATE enables clients to improve results and carry out process improvement programmes to build sustainable competitive advantage.
AXIS CORPORATE are specialists in process improvements and workflow optimisation. We help organisations develop a disciplined approach to process improvement that can identify not only short-term opportunities but, more importantly, improvements that are aligned with your organisation’s overall strategy. Typically we are tasked to deliver improvements that:
- Optimises delivery of products, services and support functions
- Eliminates unnecessary processes
- Reduce operational costs
- Improves sales and revenues
- Improves customer service and the experience
- Manages risk and compliance
Redefining Operating Models
AXIS CORPORATE helps banks to redefine their Operating Model. We have tested methods, tools and techniques in addition to a wealth of experience across the sector to optimise a client’s operating model in alignment with their strategy. We identify, evaluate and improve the core areas within Operations, Risks, Finance, HR, IT, as well as subsidiaries and outsourcing vendors. We assess the critical benefits and risks associated with the different organisational, ownership and sourcing models. As a result we help to create a redefined Operating Model and Transformation Plan ready for implementation.
The increasing complexity in the contracting and management of Outsourcing services demands a highly specialised and expert management capability. AXIS CORPORATE can assist in the areas of Operations, Finance, Procurement, Contact Centres, as well as technology services. Our aim is to enable analysis and experience based decision making, in order to capture the real value of the new strategy and operating requirements.
AXIS CORPORATE has considerable expertise integrating organisations, transforming merged operations into efficient entities and efficiently managing the migration of customers. We assist our clients from the planning phase through to the implementation, providing governance, business and technical design, project management and subject matter expertise services where required.
In an ever more complex regulatory environment, AXIS CORPORATE has a team of specialists who have an in-depth knowledge of various banking industry regulations and requirements including BASEL II, Solvency II and RDR. We can assist our banking clients in transforming their Operating Models and processes to ensure compliance with these regulations and provide robust Control Models to monitor them.
Customer experience has become a key battleground to build competitiveness and define value.
The customer’s perception defines the value of your brand, product, services and operations. It is therefore critical to influence and manage this perception throughout the customer’s life-cycle and with each interaction. AXIS CORPORATE can assist in areas such as identifying key issues in your customer experience, understanding the customer, the organisation and its people and designing a comprehensive experience model across all touch points.
The alignment of AXIS CORPORATE’s work with the objectives set out by the company were spot on.Leading bank in Spain
AXIS CORPORATE gave precise answers as regards to timing, method, and process.
Corporate Finance and Human Resources Director The Eat Out Group
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