A Platform-based Operating Model to Transform Financial Services
Viewpoint

27 Sep 2021
by Ronak Doshi, Sampada Rahalkar, Kriti Seth, Japshabad Suri

The financial services industry is redefining value levers by orchestrating end-to-end experiences for financial services and creating consumption models that extend beyond traditional organization boundaries. Financial institutions need to be agile enough to compete with next-generation peers and follow a pragmatic approach to innovation to successfully orchestrate the relevant ecosystem, while managing their growth and profitability mandates.

These drivers are pushing financial services firms to increasingly invest in IT modernization and digital transformation, which typically come into effect in several years. These firms will need to shift from an approach of “continuous modernization” to an approach of “continuous simplification” to achieve a modern, scalable, and composable IT architecture and a platform-based operating model.

Scope:

Industry: banking, capital markets, financial services, and insurance

Geography: global

Contents:

This report studies:

  • Value drivers for the financial services industry
  • Technology hurdles that enterprises face in their business value discoveries
  • A platform-based IT operating model to enable the journey of continuous simplification
  • Characteristics of a platform-based operating model
  • Implications for BFSI enterprises

Membership(s)

Banking Information Technology

Sourcing and Vendor Management

 

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