Stop. Pause. Rethink.

And focus on the things that matter.

Banks now have a rare opportunity to focus on what matters.

To get ready for growth and recovery. To drive down cost and build a resilient business. To handle major market changes with flexibility and efficiency.

We’re proposing a three-phase approach we call ‘Respond, Reset and Renew’:

• Respond looks at how banks handle the massive surges in customer demand while adopting best practice remote working and maintaining staff health, safety and security. This involves balancing the human touch with AI and automation, shifting customers to digital and partnering for speed.
• Reset looks at how banks drive down cost and protect profit. It focuses on developing end-to-end digital processes, driving a variable cost structure through cloud adoption, managing credit risk and rationalising property portfolios.
• Renew looks at how banks can get to growth. There’s a potential 5% revenue uplift for banks who avoid the ‘trust deficit’. We explore how banks can offer better advice, increase personalisation and focus on ESG (Environmental, Social and Governance) investing, especially for Millennials.

Listen to our banking experts, Michelle Baxter and Saurabh Verma, talk about these three phases in more detail with The Banker, as part of their Masterclass programme.

It’s time to rethink.