The financial sector must embrace its critical role in modern society, so our financial services consulting teams partner with financial institutions around the globe to help them drive true impact and positive social change.
In order to thrive, financial institutions must exceed expectations. Should banks integrate ESG considerations into their financial services strategy? Set a new vision for their digital future? Adopt processes for better risk mitigation?
BCG’s financial services consulting leaders offer strategic thinking, transformative expertise, and technical know-how. We draw on deep financial sector relationships and inter-disciplinary knowledge across multiple industries, capturing best practices that cut across global markets.
Our Financial Sector Services
Our Approach to Reimagining Finance
Our financial services consulting teams think differently—throwing out the standard playbook and rewriting rules for how consulting firms should partner with clients. Our experts bring a ground-breaking financial sector acumen and a spirit of true collaboration to all levels of our clients’ organizations to drive real impact. We place equal focus on growth and innovation to create personalized solutions that not only work but also stand the test of time.
Our work in the financial services industry includes deep knowledge and capabilities in three core, cross-functional areas:
A Holistic Approach to Financial Services Digitization
Solutions for Sustainability, Climate Impact, and Financial Services
Building Competitive Advantage Through Risk and Compliance
Our Clients’ Success in Financial Services Strategy
BSF’s Path to a Banking System Upgrade
Banque Saudi Fransi, one of the largest banks in Saudi Arabia, worked with BCG to introduce a core banking system—and implement it seamlessly.
How Citizens Is Competing—and Winning—Against Fintechs
Michael Ruttledge, CIO of Citizens, explains how a digital transformation has allowed the company to compete against fast-moving startups.
A global bank with more than 300,000 employees needed to transform its operating model. BCG defined a new target business model on the basis of customer economics, then redesigned the bank’s operating model to deliver better value to customers. The transformation put the bank’s cost-to-income ratio on track to fall from 54% to 48% and its cost baseline to decline by 10%, delivering $1 billion in savings after one year.
An incumbent bank was struggling to compete for new customers. According to our own market research, improving its digital capabilities would be key to a turnaround. BCG accelerated the institution’s digital transformation and helped build a state-of-the-art digital bank, leveraging InQbate by BCG to design a compelling user experience, orchestrate operational processes, and engineer a full technology stack in only 10 weeks.
BCG partnered with a global payment-card issuer to overcome technology-platform constraints, creating a new architecture and fully leveraging big data and advanced analytics to offer a cutting-edge customer experience. The transformation delivered recurring top-line impact, with up to $500 million in additional risk-adjusted revenue in the first year.
When a global investment bank needed to respond to allegations of securities fraud, BCG supported an eight-month review of business standards across all business practices and geographies. The work produced 39 public recommendations, including new disclosure and origination standards, product documentation, and reporting lines; an updated code of conduct; improved governance; and stronger performance evaluation and training.
Our Suite of Solutions, Tools, and Products for the Financial Services Industry
BCG’s solutions are tailor-made for the financial sector. Whether creating cutting-edge strategies for banks, driving fintech innovation in payments, enabling more sustainable investment strategies for asset and wealth managers, or devising more secure and inclusive banking experiences, BCG works with clients to make bold moves that put our clients at the forefront of change.
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CO2 FI by BCG CO2 FI by BCG is our AI-powered solution for net-zero alignment in the financial services industry, helping financial institutions meet their climate-impact goals. -
InQbate InQbate by BCG is a digital banking platform and accelerator containing all the fundamental building blocks companies need to create a digital bank. -
F2B Journeys (Front to Back) (F2B) Journeys enables the simultaneous deployment of all financial institution digitization levers, revolutionizing banking and unlocking value. -
SmartBanking AI SmartBanking AI allows banks to build deeper customer relationships by delivering bespoke solutions. -
FinTech Control Tower by BCG BCG’s powerful, global fintech platform draws on proprietary data tools, the latest market intelligence, and deep in-house expertise to help clients uncover opportunities and execute on their fintech agendas.
Our Partners and Centers of Excellence
The Center for Climate & Sustainability Policy & Regulation brings together experts with comprehensive industry and technology-specific knowledge, providing clients in both the public and private sectors with an all-encompassing view of the policies and regulations they face today—and may confront tomorrow.
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Expand
Expand, a BCG research company, works with 26 of the world’s top 30 financial services industry players to deliver unique decision-support services such as benchmark comparisons and industry diagnostics. Expand delivers independent, impartial, and anonymous benchmarks of firms’ business, operations, and technology performance.
BCG X: Our tech build and design division
Leading tech, AI, and digital capabilities to meet challenges like managing complex ESG data at scale, modeling advanced behavioral analyses, and partnering with fintechs.
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Meet Our Financial Services Consulting Leaders
BCG’s financial services consulting experts help clients understand and prepare for the future of the financial services industry, equipping them with the tools they need to deliver unparalleled value.
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Our Insights on the Financial Services Industry
Report
Banks must blaze a clear path that enables them to meet their obligations: driving economic growth, helping to finance the climate transition, and generating lasting shareholder value.
VIDEO
How Can Financial Institutions Be Socially Transformative?
BCG’s Douglas Beal discusses how organizations can invest for impact—and in the process, create not only value but also a better world.
