Whether you are preparing for, undergoing, or have just been through a transformation, we can assist at every point in the project lifecycle.
The pace of change in the digital space is accelerating at ever faster rates. Incumbents are finding it demanding to keep up and to innovate with increasing competition emerging from FinTech entrants.
New software development and data technologies are prevailing, pushing the boundaries of what can be achieved through digitalisation and new technology adoption; establishing the basis for pursuing competitive advantage, Cloud computing is reducing the technology Total Cost of Ownership (TCO), improving resilience and availability, further promoting the use of leading-edge services to improve business efficiency.
Start-ups are leveraging technology to disrupt established markets, with existing incumbents seeking to optimise existing operations by exploiting advances in technology.
There is significant appetite to harness the potential promised by advances in Blockchain, distributed ledger technologies, artificial intelligence (AI), and robotic process automation. Use cases abound, and as solutions mature and costs stabilise, these technologies that were once science fiction will eventually become science fact.
Enhancing technology and digitalisation is at the top of the agenda for a large proportion of current and prospective financial services clients.
- Keeping pace with technology innovation and change, and understanding how this impacts the organisation
- Transforming existing operations and implementing complex change, whilst maintaining business as usual operations (BAU) and quality of service
- Identifying technology product sets that are strategically aligned and future-resilient
- Keeping abreast of changes in customer and business demands whilst avoiding the emergence of shadow IT (and the corresponding proliferation in technology products)
- Reducing the Total Cost of Ownership (TCO) and minimising technology risk by modernising legacy architectures
20 September 2023
The rise of digital companies over the last two decades has forced traditional organisations to rethink their operating models to achieve the required levels of agility, customer experience, and flexibility. As the market is showing increased interest in digital assets, Start-ups and early investors have created enormous value in the unregulated cryptocurrency market, while businesses in the enterprise space have adopted technologies developed and tested in the market and applied them to payments and settlement, record keeping, securitisation, and trading.
30 August 2023
New technologies are disrupting the way organisations and customers interact, empowering users to request better services and products. Organisations are facing both internal challenges to drive innovation and external competitive pressures to address market demands quickly.
22 August 2023
A dedicated Supply Chain Finance company, sought to elevate the customer experience for their external clients accessing the trade finance system through their customer portal.
In this blog we explore the opportunities DeFi presents, including faster and cheaper payments, improved lending and borrowing, transparency, and accessibility. Following on the same trajectory, this also discusses how within the contemporary and rapidly evolving financial landscape, digital and data transformation have become paramount for success
Artificial Intelligence (AI) refers to the capability of a computer system to replicate human cognitive functions and simulate the reasoning that humans use to learn and solve problems by employing maths and logic. Machine Learning (ML), a subset or application of AI if you will, involves using mathematical models of data to facilitate computer learning without direct or explicit instructions.
The EU has set December 2024 as a critical milestone for organisations to establish the principles and practices to enhance ICT resilience across the financial sector.
TORI completed an 8-week engagement and collaborated closely with the Client’s internal IT, procurement / product owners, examining and constructively challenging the cost base, procurement practices and licence utilisation taking account of over overarching business objectives and desired cost savings targets.
11 March 2023
The Society was undertaking an ambitious digital transformation programme that formed a core component of its long-term business strategy to attract new members.
02 March 2023
The UK is preparing the ground to enter the world of digital assets. The Bank of England (BoE) has recently published a digital pound consultation paper related to digital currencies and exchanges, in line with actions taken by other European Countries, and in particular, EU member states (MICA).
16 February 2023
Environmental, Social, and Governance (ESG) related topics have been slowly but surely coming to the forefront of the global business agenda since the early 2010s. However, over the last few years, there has been a massive boost in interest pertaining to ESG considerations, with many organisations having ESG issues at the top of their risk register.
Asset Management FY23: With Shrinking Revenues has Cost Fungibility of Technology Finally Been Addressed?
30 January 2023
The phenomenal growth of AuM, revenue, and profitability for Asset Managers during the last decade has been reversed, driven by falls in stock market valuations across almost all asset classes impacting both management and performance fees.
Following on from an initial piece of work related to Vendor Cost Optimisation, the client needed further alignment with in-scope products to compile a robust execution plan across technology and business functions for the decommissioning of its legacy platforms.
20 December 2022
Following aggressive M&A activity, the client one of the UK’s largest independent financial services companies encountered several issues.
18 November 2022
Our Client had originally outsourced their backup service several years ago. The client now wanted to structure a new offering in the form of a managed service and issued an RFP to select a new supplier to deliver the desired backup model (BaaS).
A Global Investment Manager, and amongst the largest in the world with c£400 B of Assets under Management (AuM) had grown through multiple mergers and acquisitions. The client had been running a Cost Optimisation initiative for 3 years to reduce costs which failed to achieve its desired goals; they were seeking external expertise to help uncover deep-rooted issues.
26 October 2022
One of the UK’s largest independent financial services companies operated as one company in name only. The Group consisted of pension administration companies, property legal services and a FinTech company all operating under different brands.
11 October 2022
In light of the recent guidance established by the Consumer Duty act, a leading digital bank wanted to develop and enhance its internal governance around product management. The bank engaged TORI to assess the current state and build the processes and methodology to evaluate the risk component.
11 October 2022
The Society established an ambitious plan to transform its view on data management and the technology stack that supports its operations. Senior stakeholders were concerned how the organisation would achieve those plans in the short to medium term. Our client requested TORI to perform an assessment of the IT Strategy Review to identify any potential risk or threats.
After an internal assessment, the client identified operational inefficiencies and gaps against regulatory standards for third-party management which posed a serious legal and reputational risk to the firm.
07 January 2022
The rise of digital companies over the last two decades has forced traditional organisations to rethink their operating models to achieve the required levels of agility, customer experience, and flexibility.
08 November 2021
The pandemic has accelerated digital transformation across all industries (even faster than the CIO agenda), forcing organisations to quickly move key processes to digital environments to retain some level of activity during the disruption.
The client needed to consolidate their Data Centre (DC) estate, optimise their application portfolio and relocate to new facilities.
As organisations attempt to maintain a level of productivity as the COVID-19 pandemic continues, working from home is the new reality for many businesses.
28 February 2020
The client a European multinational Investment Bank and Financial Services Company, started a large global IT transformation programme early in 2016 with the goal of transforming 4,000 Applications and 104K servers/databases by 2023 onto cloud platforms.
The Client, located in London is heavily reliant on their parent group and an external Service Provider for a significant number of operational and strategic services with little or no cost transparency or operational value add.
13 December 2019
A critical component of the client Business strategy was to diversify their business, streamline and optimise their technology environment and adopt a fit for purpose Change control process.
13 December 2019
An international FTSE-250 consumer finance business engaged TORI to develop a data strategy with the aim of ensuring regulatory compliance of their corporate data.
26 November 2019
Our client was a Tier 2 Global Bank with a presence in 13 countries across the world and around 42,000 employees. As part of a contract review, the client asked TORI to review onshore and offshore application support and development services from a major Indian services vendor.
06 October 2019
Our client was focused on a cost reduction strategy across its technology estate. Following on from our initial assessment, Storage was identified as a target area due to its ever-increasing cost profile.
04 July 2019
Through the use of technology and innovative business models, FinTechs have triggered significant disruption in Financial Services. With such potential for disruption, it is always a good idea to scan ahead to see what may be around the corner.
The whole ethos and modus operandi for digital technology is in the capability to create digital products and services at a far reduced time to market; as compared to the more traditional approaches to technology services introduction.
20 February 2019
Most IT Services managers generally believe they are doing a “good job”. That is until a long-term customer suddenly not wanting to do business with them any more and plans are underway to move to a new provider. At this point, it is perhaps too late to ask the customer whether there are any issues that need addressing or what requires improvement.
The Financial Services industry operates in an increasingly complex environment with relation to Information Lifecycle Governance. Organisations have historically been ineffective in managing the ever increasing volumes of data, driven in part by not applying effective records management procedures.
15 February 2019
Enterprise data volumes are growing exponentially. Legal and regulatory pressures have driven an approach that retaining data is a significantly more palatable solution than the risks associated with removing it. With storage always seen as relatively cheap, volumes have been allowed to grow.
22 November 2018
In the face of the never-ending deluge of bleeding-edge ‘solutions’ to address all business woes, how do you make sense of it all and more importantly, how do you determine the what, how and why?
17 October 2018
AI is a general term which describes any technology that performs tasks which demonstrate characteristics of human intelligence. Machine learning is a subset of AI which can achieve ‘intelligence’ with the use of algorithms to ‘learn’ with data, without being explicitly programmed.
06 September 2018
In the infrastructure, world storage has for many years been treated as an exception when it comes to cost. Its share of the IT Budget has historically been relatively small, and it has always appeared too hard to get a grip on: storage is complicated, it is difficult to have direct impact, and there are always other priorities.
06 June 2018
IoT? AI? RPA? DLT? XYZ? Ok, we made the last one up… but the point is that IT leaders need to constantly assess the benefits of new technology in the context of the businesses they serve. Cloud strategy is no different. Which is better – private, public, hybrid or none at all?
16 May 2018
In this age of rampant digitisation, there is a heavy focus on the Customer Experience (CX): Omni-channel strategies; customer-centric design; Single Customer View; frictionless customer experiences – just some of the concepts we read and hear so much about.
06 April 2018
Chasing the pack is not always the right decision to make, as reaching ‘optimal’ in all dimensions may not necessarily maximise return on investment or justify the level of internal disruption required to get to that point.
23 March 2018
A middle-eastern bank with regulated operations in the UK, Europe and the Americas embarked upon an operational remediation programme in response to some significant regulatory findings.
The TORI team have combined their significant experience and expertise in Wealth Management, Insurance and emerging technologies to look at the current digital capability across these industries.
Our client a leading UK Investment & retail Financial Services firm faced numerous challenges around vendor governance, policies and process alongside a wider remit to reduce overall spending on IT by 20-30%.
28 April 2017
A global FTSE 100 embarked upon an improvement plan to action process improvements and controls for access management of 70,000 distributed assets globally.
A Tier 1 global investment bank with clients in over 100 countries and assets of $2.3 trillion, wanted to identify a strategic partner to assist in the delivery of a standardised and highly virtualised technology platform and the operation of its core IT infrastructure services.