Financial Services
Astronomical Clock
The 2nd century BC Antikythera mechanism of ancient Greece was used to calculate the positions of the sun, moon, and stars at any given point by use of complex mechanical gears. (courtesy Wikipedia)

Optimising Customer Segmentation

One of the most lucrative and profitable businesses for many banks is wealth management or portfolio management….

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The Global financial services industry went through a kind of reincarnation, post the deep rumblings of the financial crisis to appear more clean, structured and controlled. Though the crisis triggered evaporating liquidity, bankruptcies and loss of asset value, it also gave insights into glaring industry oversights – the discouraging numbers, astounding policies, shadow banking, deconstructed value chains, risky innovations outpacing capacity to control and manage, lax lending methods, poor compensation systems, unviable interest rates, casual risk management and arcane financial products.

These insights into gaping holes of the industry dictated government interventions, some effective but more reactive. There was a scramble for funding, cost cutting and job losses, shaking the very fundamentals of the industry and affecting its sustainability

Although the situation is still quite fluid, but the appetite of businesses for risks appears satiated and more focused on balanced returns. Strategies post crisis are drastically refined, with risk management more structured under regulations.

Another important fact that has now been established that the relationship between policy makers and the financial services industry especially with banks has become more tightly coupled and is going to remain that way in future. The banking and financial services industry has now truly become global and decision cannot be made in isolation since money markets have shifted their epicentre and the flow of money has become transcontinental.

As businesses bend towards more cautious and informed decisions, analytics can help change the way value is defined, with more unconventional methods that could help them frame portfolios, business models, governance and operating norms. Analytics if deployed intelligently can help financial institutions get a peak in the future and the impact of their decisions in the context of the global market place.

Analytics offered by iQG helps the industry with their need for better customer relationships, deposit bases, transactions, processing, consolidation and standardization. It helps them understand core business, leaner structures and scalability with capability, ringing in the cautious equilibrium in the new regulated regime. It helps businesses be more responsive and meaningfully aggressive for better risk management and substantial stability.