The right people in the right place, brought together in the right way.
As banks look to achieve further cost savings across their operations and retain focus on core, revenue-generating areas of their business, a number of challenges conspire against these objectives.
The need to keep apace of regulatory changes such as PSD2, GDPR, ICB ringfencing and the Senior Manager Regime will continue to consume significant overhead both in terms of people and cost. Other Market initiatives such as MiFID II and CSDR are further additions to the Book of Work that have to be addressed simply to remain in business. Against this backdrop it’s becoming apparent that transaction processing provides little or no competitive edge if performed well, whilst a mediocre back office can have a disastrous effect on business. The time has come to cross the Rubicon and offload such activities to a specialist provider.
Being able to respond to new market entrants and meet increasing demands of customers while moving the dial on RoE and CIR requires a comprehensive re-think of the business model: what’s core versus non-core? Which services deliver real or perceived value versus those that are commoditised?
Leveraging managed services and sourcing strategies to deliver best-in-class capabilities allows the business to focus on value-add, customer-facing activities in the knowledge that risk, control and compliance are being addressed in accordance with defined risk appetite.
At TORI we have the experience of building and operating managed services across multiple geographies and markets.
Our capability is built on deep operations and technology domain knowledge gained from some of the world’s largest financial institutions. We have extensive experience of establishing and transforming Operations in captive, insourced and outsourced environments.