Banking

Banking

Industry Overview

 

For the past decade, the global banking industry has been on a transformational journey, and the coming years could prove to be much more challenging.

 

Banks are under pressure from several fronts and need to start putting strategies in place with an ecosystem of partners to transform their business and achieve growth. They have to implement new technologies such as AI, robotics and IoT, transitioning to new, low-cost structures while driving value creation. Furthermore, to be successful they need to remain flexible and put customers at the centre of every strategy.

 

Regulatory reform, risk management considerations and enhanced reporting requirements were all challenges to growth even before COVID-19. Leaders need to ensure their organizations remain resilient, knowing that the pandemic has presented productivity opportunities, too. Some of them are highlighted by the relative ease with which customers have switched to digital channels and the successful aspects of remote work. As a result, banks are seeking help to become more efficient by rationalizing processes and increasing automation.

 

The future of banking will look very different from today. Disruption, regulation and cost are three key themes that link the many challenges retail, commercial and investment banks face in today’s rapidly evolving financial services industry - bringing a wave of competitive models and heightened expectations from consumers, businesses and investors.

 

The banking industry is expected to have clearly defined systems for risk management and controls, with regular reviews and recalibration. Sophisticated strategies and solutions will be required for financial institutions to navigate the post pandemic world and gain a competitive edge.

 

 

Partner with Sirighi

 

Sirighi brings together professionals with diverse experience to provide customized solutions for clients across all segments of the banking industries. We have a global, multi-disciplinary team of professionals who know how to deliver successful outcomes.

 

Our innovative solutions help to define and evaluate risks involved in key elements, financial accounts, IT controls, and more - generating BI reports for greater insights into business performance.

 

We emphasise building a culture that ensures balanced risk taking and responsible business practices -  providing solutions to solve the most pressing questions related to compliance, governance and risk management challenges.

 

Our team works with clients to navigate digital innovation, new business models and ecosystem partnerships - helping banks become the agile and responsive organizations that customers demand. Our close connection with regulators, understanding of key issues, and deep industry knowledge aims to lead to smooth collaboration and practical execution.

 

Sirighi’s unique delivery model presents an integrated team of experienced banking industry professionals with in-depth sector knowledge across the banking organization, with specialties in key product areas. We help banking clients navigate the new normal and build the foundation to respond to customer needs and competitive, technological shifts.