Financial Services

Scope

PSM’s clients span a wide range within Financial Services. Our key sub-sectors are:

• Banks
• Insurance Companies
• Building Societies

Issues

PSM recognises the need for organisations in this Sector to improve operational and non-operational performance (both efficiency and effectiveness) without compromising customer satisfaction or introducing additional business and commercial risk.

Most organisations in the sector understand the need to improve. As a Sector, however, Financial Services are comparatively traditional and risk-averse, and increasing Regulation fuels this characteristic.

There is therefore a strong desire in most organisations in the Sector to deliver a very balanced and safe improvement programme. Few organisations have the direct experience or skills to deliver this without some external support.

Competences

PSM’s skills and experience both in Financial Services and in other Sectors enable our consultants to provide best practice guidance and support together with transferable approaches, techniques and methods from other sectors. The business processes and functions within the Finance Sector in which PSM has relevant expertise include:

• Business planning and performance measurement (e.g. Balanced Scorecard)
• Marketing, Sales and Account Management
• Business Process Modelling, Optimisation and Management
• Business Excellence, 6 Sigma and Lean programs
• Business Continuity Planning

Our real value comes from our unique knowledge of other Sectors, which enables us to directly challenge traditional views with relevant experience of best practice and knowledge of ‘what works’ elsewhere.

Benefits we have helped deliver

• 15% FTE savings via Optimised Processes – Bank Cash Centre
• 50% reduction in cost of premium collection – Life Insurance
• Business Continuity Plan delivered in record time – Bank fulfilment centre