The demands of increasingly sophisticated customers and the realities of regulatory compliance are daunting challenges facing even the most nimble of large financial institutions. Some of the common issues driving all players in the finance sector today include:
• Service quality, with a focus on customer-centricity, intelligence and business modelling
• Emerging ‘go for growth’ strategies driving interest in organic and inorganic growth in the sector.
• The heightened business confidence of other sectors drives significant revenues to the finance sector in terms of commissions for advising and brokering inorganic deals
• Increasing reliance on IT and all forms of outsourcing as FSPs undertake hard hitting analysis of what is a core or non-core competency
• Integration and standardisation of networks, applications and hardware/software
• Recognition of the need to align business and ICT strategies
• Global sourcing to gain maximum benefits from labour arbitrage
BT fully understands the finance sector and its drivers, challenges, inhibitors, and has developed propositions that will help financial institutions succeed in an ever increasingly competitive and complex regulatory environment.
BT has a vast experience in Ireland and across Europe managing the ICT platforms of many of the leading European banks. Eight of the top 15 European banks [ranked by FT.com] have outsourced their network and other ICT services to BT including Bank of Ireland, Royal Bank of Scotland, Barclays, BSCH, and Deutsche Bank. For more information, contact lead consultant Aidan O’Doherty.
