GBR

Financial Services

A few words about the Financial Services Industry

Financial Services is currently witnessing an acceleration in the evolution of technology which represents both a risk and an opportunity to every player. This tidal wave of advancement is completely restructuring the landscape of the industry and enabling agile companies to create new products and better serve both traditional and new customers. Firms face unrelenting pressure to boost productivity through the digitization of both business processes and their shifting workforces. Operating within a tightly regulated environment, financial services firms in every sector face stiff competition and growing pressure to adapt and change.

As the industry becomes increasingly digitized, the Kepner-Tregoe troubleshooting approach has been integrated into leading service management organizations. Working with KT helps companies improve customer support and accelerate resolution of critical IT issues. ITSM consulting and capability development services from Kepner-Tregoe are best-of-breed based on the immediacy and depth of their impact. They measurably lower costs, heighten confidence, and help companies provide a better overall customer experience.

KT improves the way work is done at financial services companies in a variety of ways. Our analytic approach to decision making is used by executives to use structured thinking and relevant data to make better decisions and to reduce risk. Our analytic processes are integrated into Lean initiatives in back-office operations to resolve the problems that help eliminate waste and improve the achievement of key results.

To learn more about Kepner-Tregoe consulting and training solutions for the Financial Services industry, contact Kepner-Tregoe.

Success Stories

Challenge

IT problems were being handled through a dispersed group of individuals. Once a major client-impacting incident was resolved, the investigation for finding the underlying cause of the incident was assigned to a technologist, who went off into a silo to try and determine root cause and corrective actions. This was supported by a group of “Problem Administrators” without having a clear strategy or aligned approach, making sustained improvements virtually impossible.

76%

Reduction in number of days to complete

38%

Reduction in major impact incidents

Results

Based upon the rapid engagement of SMEs, reinforced through the disciplined approach of Root Cause Analysis, which resulted in more accurate findings, the program saw a significant improvement in overall stability. The ultimate outcome was a significant increase in problem data quality, a reduction in time-to-root-cause as well as major incidents, and consequently a significant increase in IT stability.

Challenge

Deutsche Bank has more than 78,000 employees, more than 2,700 branches in 70 countries and assets of almost $2 trillion. With teams of problem managers at multiple locations across the globe, the challenge was each siloed group of problem managers was using different root cause analysis (RCA) and incident management tools to address client incidents at a local level—but they couldn’t seem to reduce the number of incidents or the time required to solve them.

50%

Reduction in client-facing incidents

20%

Reduction in year two

Results

What was discovered was that process training resolved the toughest problem-management challenges in a global IT environment. Read full client success story including second global bank success.

Insights

How Financial Services Firms Are Eliminating Tech Debt

Adding a host of slick new technology features gives financial institutions leverage to retain and acquire new customers. This race to be the first to add new technology has IT staff committed to daily firefighting just to keep their systems up and running with little hope of handling the mounting quantity of problems that continue to threaten their organizations.

Challenging the Incident Management Culture

While Incident Management seems to be the best approach to our ever-changing IT environment, the author demonstrates the value of addressing problems at the source. In this case study, an organization focused on Problem Management to dramatically reduce IT costs and regain first place in the market.

Structured Thinking: Bringing Consistency to Problem Management

The “how-to of problem management”—Kepner-Tregoe structured thinking (recognized by ITIL) begins with a focused problem statement.

Major Incident Management: Don’t Wait to Plan Your Major Incident Response

In organizations that rely heavily on IT systems, major incidents don’t occur too often but when they do, a rapid, planned response is critical. For major incidents, the cost of the impact far exceeds the cost of resolution, and the key success factors are response time and the quality of the response to the issue.

Testimonials

Our Experts
in Financial Services Industry

Caustan De Riggs
Head of Sales - North America
North America
Sascha Laufenberg
Business Solutions Consultant
Europe
Alaric Tan
Business Solutions Senior Consultant
Asia
Takashi Uikusu
Business Solutions Senior Consultant
Japan

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