We work with our financial services clients as partners. Together we develop clear, practical action plans, and support or run the implementation of those plans to ensure real and sustainable performance improvement. We have worked with leading financial services companies in many strategic and operational areas, such as:
Customer orientation to drive organic growth. We have worked with banks and insurance companies around the world to strengthen their customer focus in all their operations. We have redesigned the customer experience at all touch points with the organization and installed feedback loops to ensure the voice of the customer is heard and acted on. Bain developed the Net Promoter® system—a tool that focuses companies on developing levels of customer loyalty that lead to growth—and pioneered its application in the financial services industry.
Reducing costs and complexity to improve performance. Financial services firms that consistently marry greater efficiency with higher productivity in serving customers generate the highest shareholder returns. Bain works with leading services firms to strip complexity out of products and processes, and reduce costs as a way of bolstering or rebuilding margins.
Harnessing and sourcing information technology that is aligned with strategic goals. Today's financial services firms must have a technology strategy that's both sophisticated and efficient if they are to compete successfully. We help our financial services clients decide how best to source technology and ensure that information technology is aligned with business growth objectives and delivers effectively on its promise.
Integrating acquired companies to realize the most value. Successful merger integration lies in a few, powerful guiding principles: Tailor the integration thesis to the deal thesis; integrate where it matters; and act with deliberate speed. We have worked with financial services firms around the world to integrate acquisitions quickly and accelerate the delivery of expected value. Increasingly, we support clients that absorb acquisitions in the developing growth markets for financial services of Asia, Eastern Europe and Latin America.
Making and executing key decisions better and faster to fuel unprecedented financial performance. Financial institutions’ ability to react nimbly to mounting industry pressures—changing regulatory demands, diversifying product lines and markets, and increasing industry risk and uncertainty—depends on how effectively the make critical decisions. We work with financial institutions to identify the highest value decision opportunities, establish clarity about decision accountabilities, and build enduring behaviors, measures and incentives throughout the organization to continuously produce faster, better decisions, faster action, and improved efficiency.
Net Promoter® and NPS® are registered trademarks of Bain & Company, Inc., Fred Reichheld and Satmetrix Systems, Inc.