Geoff is the Lead for Cisco’s Business Transformation solutions for the Financial Services Industry in Canada. To read Geoff’s full bio, please click Here.
This is the first in a series of blogs where I will discuss the capabilities that are driving innovation in the design and structure of retail financial services organizations. These capabilities shape where and how work is done, how resources are allocated and positioned, where geographic expansion is executed, how customer points of presence are designed and staffed and how workplaces are configured. In sum, these capabilities offer new ways to engineer retail financial services organizations, the service delivery models that are critical to superior client experience and highly productive and cost-effective operations. Organizations that embrace and implement these capabilities will have a significant edge.
Imagine for a moment that you and your executive team are working to establish a new upstart financial services firm in a market with established competitors.
- How would you shape and structure your organization, operating model and service delivery system so that your retail bank, insurance and wealth management businesses can effectively compete with the established players?
- What would you offer that would drive superior, clearly differentiated level of satisfaction to the point where more clients move their assets to your firm?
- What factors would influence and guide your organizing model? Also, what capabilities would be essential to win market share, enable cost effective expansion and growth?
- What choices would you make in terms of how you allocate and locate your critical knowledge experts to drive the differentiated level of service and simultaneously achieve high productivity and the requisite level of profitability?
- What infrastructure assets would you decide to own and operate within your organization, and which would you choose to have outside and provided by others?
- Finally, how much time and focus would you and your executive team place on those assets and capabilities that make these advantages possible?
These are a few of the decisions and choices that would be paramount to you and your executive team. Why? Because these decisions and choices will influence the success of your enterprise. Continue reading “Imagine the Possibilities and Realize the Benefits of Organization Innovation in Financial Services”


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