Digital transformation and fintech
AI, blockchain and big data analytics applied to operational efficiency, customer experience and new products.
Sector 03 / Financial services
Consumer and commercial financial services, including payments and specialty lending.
A dynamic market, shaped by digital transformation, customer-centric strategies, regulatory compliance and innovation in payments.
Sector overview
The institutions that address these themes together tend to thrive.
The financial services market is a dynamic one, characterised by digital transformation, customer-centric strategies, regulatory compliance, sustainability, innovation, cybersecurity and financial inclusion. Institutions that address these themes effectively are well-positioned in an evolving and competitive environment.
The adoption of fintech solutions is reshaping traditional banking, insurance and investment services. Mobile banking, digital wallets and online lending platforms are becoming ubiquitous, driven by consumer demand for convenient and accessible services.
Regulatory compliance remains a significant theme in the Australian sector, and risk management practice is evolving to address newer challenges including cyber threats and market volatility. Institutions are investing in compliance frameworks, risk assessment tools and security measures accordingly.
Market forces
Five themes on the agenda.
Each of these lands on the same small number of decisions: what to build, what to buy, and what to comply with.
Customer-centric personalisation
Customised portfolios, insurance plans and advice, with omnichannel experience and loyalty programmes behind them.
Regulatory compliance and risk
A complex regulatory environment, and risk practice evolving to meet cyber threats and market volatility.
Sustainability and ethical investing
ESG factors in decision-making, sustainable investment products, and transparency in reporting.
Payments and open banking
Real-time payments, contactless transactions and the Consumer Data Right framework opening the market to competition.
Selected client examples
Three financial services engagements.
Named clients are withheld. Each of these ran with a small, senior team working alongside the client’s own people.
Corporate strategy
Listed alternative consumer credit provider
Medium term corporate strategy development.
- Developed a comprehensive strategy to underpin the medium-term growth of the business
- Enabled the successful introduction of new consumer credit products
- Contributed to a significant uplift in the share price in the six months following the engagement
Performance improvement
Listed alternative credit provider
Performance improvement and cost reduction.
- Developed a performance improvement programme with more than 25 cost saving initiatives
- Identified $40m in cost efficiencies
Product strategy
Consumer credit provider
Product strategy and market assessment.
- Undertook analysis of the BNPL market and the strategic implications
- Developed a plan to rationalise existing consumer credit solutions and introduce a new proposition
Starting a conversation
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