The retail banking sector is in a state of flux driven by the arrival of open banking; the move from a transactional to customer centric focus and the rise in adoption of digital banking channels. Consumer expectations and technology advances are driving changes to the way in which customers interact and engage with their bank, and this combined with the emergence of new players in the market and the introduction of ground breaking changes in the form of Open Banking, is threatening the very heart of traditional high street banking.
Without the issues of physical buildings, traditional ways of working and legacy systems, these challenger banks are not tied into the old ways of working. Instead they can embrace lower cost digital channels, truly putting the customer at the heart of everything they do, whilst launching new propositions and services to the market much faster.
We understand many of the key issues facing retail banks today including:
Challenges with delivery capability and capacity to bring new products and systems to market
Implementation issues when adopting a new technology platform
Increased competition leading to issues with availability of critical resources with in-depth knowledge
Challenges with integrating new solutions within outdated legacy technology stacks
Our comprehensive range of strategic business consultancy and technical implementation services for retail banks, are designed to address these challenges head on and help accelerate the launch of new banking products and systems.
Sagacity’s experience within the banking sector includes some of the most exciting companies in the business, from established names to game-changing newcomers. Our approach is to add value by delivering bespoke solutions which improve operational effectiveness, data accuracy and compliance as well as customer experience.
Sagacity support a range of clients within the sector including card providers, emerging challenger banks and major high street banks. Our skilled team have investment and retail banking experience, with credentials in system integration, target operating model and regulatory reporting.
From addressing a lack of delivery capability and implementation issues to increased competition and outdated technology stacks, our comprehensive range of strategic business consultancy and technical implementation services for retail banks are designed to address your challenges head on.
Our significant domain expertise allows clients to leverage digital channels to launch and accelerate the delivery of new banking products and systems, and to overcome technical and operational resource and knowledge gaps. Our team also ensures compliance with FCA regulatory requirements.
Get in touch to find out how we can help your business address its current challenges