Reinventing work in financial services

Many financial services institutions are built on complex process architectures that have evolved over decades, especially for major product groups such as loans and credit cards. The sector has traditionally deployed large volumes of people to undertake repetitive and mundane tasks, often using old and non-interoperable technologies. Over time, this approach has introduced high levels of manual handoffs, bottlenecks, staff attrition and data inaccuracies. And it has inhibited productivity, profitability and competitiveness. Most importantly, this traditional operating model, where people have been used as the glue to unite systems and processes, created barriers that have prevented employees from investing their unique human skills in areas where they can make a real impact.

What’s Inside?

To understand how far financial services institutions have evolved, we undertook global research with 550 financial services professionals to uncover where progress has already been made, how work models are changing and how change is predicted to continue in the future.

Reinventing work in financial services

Many financial services institutions are built on complex process architectures that have evolved over decades, especially for major product groups such as loans and credit cards. The sector has traditionally deployed large volumes of people to undertake repetitive and mundane tasks, often using old and non-interoperable technologies. Over time, this approach has introduced high levels of manual handoffs, bottlenecks, staff attrition and data inaccuracies. And it has inhibited productivity, profitability and competitiveness. Most importantly, this traditional operating model, where people have been used as the glue to unite systems and processes, created barriers that have prevented employees from investing their unique human skills in areas where they can make a real impact.

What’s Inside?

To understand how far financial services institutions have evolved, we undertook global research with 550 financial services professionals to uncover where progress has already been made, how work models are changing and how change is predicted to continue in the future.

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