BSF’s Path to a Banking System Upgrade
Banque Saudi Fransi, one of the largest banks in Saudi Arabia, worked with BCG to introduce a core banking system—and implement it seamlessly.
The financial sector must embrace its critical role in modern society, so our financial services consulting teams partner with financial institutions around the globe to help them drive true impact and positive social change.
In order to thrive, financial institutions must exceed expectations. Should banks integrate ESG considerations into their financial services strategy? Set a new vision for their digital future? Adopt processes for better risk mitigation?
BCG’s financial services consulting leaders offer strategic thinking, transformative expertise, and technical know-how. We draw on deep financial sector relationships and inter-disciplinary knowledge across multiple industries, capturing best practices that cut across global markets.
Banque Saudi Fransi, one of the largest banks in Saudi Arabia, worked with BCG to introduce a core banking system—and implement it seamlessly.
Michael Ruttledge, CIO of Citizens, explains how a digital transformation has allowed the company to compete against fast-moving startups.
A global bank with more than 300,000 employees needed to transform its operating model. BCG defined a new target business model on the basis of customer economics, then redesigned the bank’s operating model to deliver better value to customers. The transformation put the bank’s cost-to-income ratio on track to fall from 54% to 48% and its cost baseline to decline by 10%, delivering $1 billion in savings after one year.
An incumbent bank was struggling to compete for new customers. According to our own market research, improving its digital capabilities would be key to a turnaround. BCG accelerated the institution’s digital transformation and helped build a state-of-the-art digital bank, leveraging InQbate by BCG to design a compelling user experience, orchestrate operational processes, and engineer a full technology stack in only 10 weeks.
BCG partnered with a global payment-card issuer to overcome technology-platform constraints, creating a new architecture and fully leveraging big data and advanced analytics to offer a cutting-edge customer experience. The transformation delivered recurring top-line impact, with up to $500 million in additional risk-adjusted revenue in the first year.
When a global investment bank needed to respond to allegations of securities fraud, BCG supported an eight-month review of business standards across all business practices and geographies. The work produced 39 public recommendations, including new disclosure and origination standards, product documentation, and reporting lines; an updated code of conduct; improved governance; and stronger performance evaluation and training.
BCG’s solutions are tailor-made for the financial sector. Whether creating cutting-edge strategies for banks, driving fintech innovation in payments, enabling more sustainable investment strategies for asset and wealth managers, or devising more secure and inclusive banking experiences, BCG works with clients to make bold moves that put our clients at the forefront of change.
The Center for Climate & Sustainability Policy & Regulation brings together experts with comprehensive industry and technology-specific knowledge, providing clients in both the public and private sectors with an all-encompassing view of the policies and regulations they face today—and may confront tomorrow.
LEARN MOREExpand, a BCG research company, works with 26 of the world’s top 30 financial services industry players to deliver unique decision-support services such as benchmark comparisons and industry diagnostics. Expand delivers independent, impartial, and anonymous benchmarks of firms’ business, operations, and technology performance.
LEARN MOREBCG X: Our tech build and design division
Leading tech, AI, and digital capabilities to meet challenges like managing complex ESG data at scale, modeling advanced behavioral analyses, and partnering with fintechs.
BCG’s financial services consulting experts help clients understand and prepare for the future of the financial services industry, equipping them with the tools they need to deliver unparalleled value.