A more stringent—and continually changing—regulatory climate means financial institutions are struggling for stability around revenues, costs and business models. In response, banks have been evolving their operating models and dabbling in shared services. They have worked to manage costs by expanding their shared services capabilities and by tapping to in-house captive centers, typically off-shore.
A shared services model offers a good path. A high-performance shared services model can help businesses standardize processes and technology, building new efficiencies.
But Accenture believes a strong shared services model can deliver even more gains for financial institutions.