If the past few years have taught us one thing, it’s that nothing can be taken for granted. Ways of working can be turned on their head overnight, customer service expectations are being set higher and higher, and the technology landscape continues to evolve at a rate of knots. Those that can adapt and keep pace will thrive; those that can’t will be left behind.
Being operationally efficient is a key ingredient in enhancing the customer experience, managing costs, complying with regulations, mitigating risks and ultimately, remaining competitive.
Any business can make capabilities increasingly efficient. However, if they aren’t delivered in a coherent way to achieve the desired customer outcome, then a key component of operational efficiency has been missed. You may have reduced your cost-to-serve but increased customer friction – your gains might have increased customer pains!
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Three major market forces are converging that will require financial services businesses to take action:
- The end of the transition period for the FCA’s new rules and guidance on operational resilience (in March 2025);
- The increasing pressures on cost to serve and customer value;
- And finally, growing demand for improvements to their experience at all the key moments of the customer journey.
Operational resilience and operational efficiency are two sides of the same coin and Altus combines extensive industry experience alongside a range of proven models and methods to easily identify inefficiencies within your business. By understanding the main outcome(s) desired by your business, we can work with you to understand the efficiencies to be unlocked across your organisation.
Download a copy of our Operational Efficiency Briefing Paper to see how Altus Consulting can help your organisation.
