Driving Strategic Change In Financial Services

Annotation Financial services businesses are leading the way towards the global economy, yet they are in a state of turbulence. Where financial services are today, other industries such as electronics, computers, telecommunications, & air transport will be in the near future. This book describes why this is happening & how companies are tackling the challenge of this volatile environment. The first part describes the causes of this volatility through new government regulations, shifts in customer behavior, the impact of new technology, & more aggressive global competition. The second part of the book contains case study material from international companies including managing the portfolio of a global financial services organization & corporate development for an international bank. Driving Strategic Change in Financial Services is an essential tool for understanding the global climate in financial services & for mastering the task of developing an international company. Executives, policy-makers, & managers in banking & other markets such as electronic commerce will find valuable insights & useful case material. Features.

Technology. Deregulation. Privatisation. Globalisation. No financial service business is immune to these forces, as they feed on each other in a whirlwind of change. These changes will require a revolution in the way all organizations are managed, demanding: New competitive strategies Alliances and mergers Business intelligence Risk management Quick responses Driving strategic change in financial services outlines the important trends and political decisions which have transformed the financial services industry. It examines how organizations are responding to the new industry models by implementing new strategies, new structures and new management systems. Five senior executives describe how they have each helped to create and implement a practical vision for their organizations.

Open innovation means gathering new ideas from sources beyond organizational boundaries. It occurs when solutions to address clients’ needs are developed in collaboration and the resulting products and services are distributed through a flexible network of partners. Daniel Fasnacht’s book, the first of its kind, discusses open business models in the context of the financial services industry. He elaborates the drivers for strategic change such as increasingly sophisticated clients or demanding shareholders among other trends, including the recent global financial crisis, and explains why the transition from a closed model of operation to open innovation is vital. Various case studies illustrate how to integrate the client into the firm's innovation process and emphasize the importance of smart client segmentation and a holistic advisory model to serve clients around the globe. Leaders must develop a set of new management practices to be able to invest in multiple strategic directions. They are responsible for giving clients a remarkable experience and for creating social relationship capital based upon an open innovation culture. Open Innovation in the Financial Services provides a much-needed framework for helping to understand industry dynamics in banking and to make the most of organizational energy by using open innovation to sustain profitable growth. The book comes at the right time and offers a new mindset for business – not only for expansion strategies in general, but especially during turbulent times.

The opening up of financial markets during the 1990s had profound effects on the financial services industry and also on national economics. There has been unprecedented growth in the demand for financial services, intense competition on a world scale, and the emergence of large global companies. Also, the development of freer, more global financial markets with 24-hour trading on the screen has accelerated the pace of change and increased volatility in the prices of securities, commodities, and national currencies. The global changes taking place in financial services will be reduced profits, increased market volatility and risk, and will encourage organizations to arrange ever larger mergers and acquisitions in an effort to cut costs and share risks. Heavier competition and narrower margins will also force management to abandon non-performing businesses and focus on those that produce a world-class performance. How financial services organizations are rethinking and reshaping their business operations is the focus of Achieving Transformation and Renewal in Financial Services. The book proposes strategies for delivering improvements in speed, cost of operations, service, quality and flexibility required to ensure continued competitiveness. Case study material shows how financial services companies have reshaped their businesses, creating continued success, and also how information technology and outsourcing are being used in the drive to build new capabilities and to increase efficiency.

One of the key success factors for any organization is effective strategic change - to ensure adaptability and increase productivity. Despite its importance, most change management projects fail or only partly deliver on their promise, the missing link often being the conflict between boardroom strategic initiatives and the working process design of the company. Implementing Strategic Change shows that most of this conflict occurs during interfacing activity - the seemly small activities such as chasing, following up and seeking permission to proceed that help drive a process forward can make up to 80% of many employees workload. This book will show that business strategy and change implementation rely on deep and close process knowledge and help develop the framework for understanding and improving these activities in any organization.

Helping you to use Six Sigma and other tools in a wide range of financial service applications; this hands-on guide features actual experiences from frontline managers and executives in financial services firms all around the world. --

How and why do strategic perspectives of financial institutions differ by class and region? Strategies of Banks and Other Financial Institutions: Theories and Cases is an introduction to global financial institutions that presents both theoretical and actual aspects of markets and institutions. The book encompasses depository and non-depository Institutions; money markets, bond markets, and mortgage markets; stock markets, derivative markets, and foreign exchange markets; mutual funds, insurance, and pension funds; and private equity and hedge funds. It also addresses Islamic financing and consolidation in financial institutions and markets. Featuring up-to-date case studies in its second half, Strategies of Banks and Other Financial Institutions proposes a useful theoretical framework and strategic perspectives about risk, regulation, markets, and challenges driving the financial sectors. Describes theories and practices that define classes of institutions and differentiate one financial institution from another Presents short, focused treatments of risk and growth strategies by balancing theories and cases Places Islamic banking and finance into a comprehensive, universal perspective

Transform your financial organisation’s formula for value creation with this insightful and strategic approach In Transforming Financial Institutions through Technology Innovation and Operational Change, visionary turnaround leader Joerg Ruetschi delivers a practical and globally relevant methodology and framework for value creation at financial institutions. The author demonstrates how financial organisations can combine finance strategy with asset-liability and technology management to differentiate their services and gain competitive advantage in a ferocious industry. In addition to exploring the four critical areas of strategic and competitive transformation — financial analysis, valuation, modeling, and stress — the book includes: Explanations of how to apply the managerial fundamentals discussed in the book in the real world, with descriptions of the principles for reorganization, wind-down and overall value creation An analysis of the four key emerging technologies in the financial industry: AI, blockchain, software, and infrastructure solutions, and their transformational impact Real-world case studies and examples on how financial institutions can be repositioned and rebuilt on a path of profitability Perfect for managers and decision makers in the financial services industry, Transforming Financial Institutions through Technology Innovation and Operational Change is also required reading for regulators, tech firms, and private equity and venture capital funds.