Reducing Annual Operating Cost by $7 Million for a Banking Sector Client through Market Intelligence Engagement

December 16, 2019

Banking Sector Overview

The global banking sector is expected to witness positive growth over the coming years as major developed markets are experiencing increasing commercial banking activity as a result of strong economic performance and positive expectations. Despite this stable growth, the evolving customer expectations, lower return on investments, rising competition from FinTech providers, and regulatory pressures are increasing challenges for companies operating in the banking sector. As such, companies in the banking sector will need to revamp their traditional banking models in order to keep up with the fast pace of changes in the industry.

Recent studies show that around 70% of companies in the banking sector have adapted a customer-centric business model. So, have you revamped your traditional banking model to meet the need of your customer segments? If not, our market intelligence experts can help. Request a FREE proposal.

Challenges Faced by the Banking Sector Client

The client is a banking company based out of North America.

Increasing competition from FinTech companies made it difficult for the client to adjust quickly to the changes, not just in technology but also in operations and other facets of the industry. Also, owing to the evolving regulatory requirements, the banking sector client had to spend a large part of their discretionary budget on being compliant and on building systems and processes to keep up with the escalating requirements. In addition, due to the client’s inability to keep pace with the latest technologies and trends, they faced difficulties in delivering the level of services that consumers demanded, especially with regard to technology. As such, they wanted to thoroughly analyze the US market changes, competitors’ strategies, and industry developments to revamp their business models accordingly. To do so, they approached the experts at Infiniti Research to leverage their expertise in offering market intelligence solutions.

Other major challenges that the banking sector client wanted to tackle by leveraging Infiniti’s market intelligence engagement were:

  • Changing landscape for lending and payments mechanisms
  • Regulatory compliance hurdles
  • Falling net interest margins

Traditional, time-intensive market research cannot help you to keep up with the needs and demands of a more demanding, smarter world.

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