Digital Transformation in Financial Services

Quite probably, never before has the financial world been affected by a technical upheaval of this magnitude. Digitalisation is set to permanently transform every niche of the financial sector. But how should the established business entities in the industry respond? The best way is with confidence. Because the current development is full of opportunities – if you know how to use them and set the right course now.

What matters is actively embracing technological change. This is because digital platforms, fintechs and increasingly rapid, disruptive technological developments are seriously challenging the previous business models of financial institutions. How they react to the digital drivers of change and meet new customer requirements is therefore crucial for their future success – because with innovative solutions, institutions can become active drivers of digitalisation and tap into new markets and customer groups.

In this complex situation, financial institutions can rely on KPMG's in-depth expertise. We know what is important now in order to be successful in the financial sector in the long term. With our Financial Services Digital Transformation solution, we are the ideal partner for this multi-layered change process. Our holistic consulting offer covers all facets of the digitisation process – always individually tailored to the customer's specifics. From the development of digitisation strategies and the establishment of agile organisations to the development and implementation of individual front-end solutions, we offer everything to actively support the financial industry in its digital transformation.

In addition to holistic conception, coordination and implementation, we also provide support with specific issues of a digital transformation in the private and corporate client business. Our special asset is that we can draw not only on our KPMG network for this purpose, but also on a broad network of renowned cooperation partners. And our industry expertise gives us a deep understanding of our clients' individual needs and their challenges.

We offer our clients specifically tailored solutions along the entire transformation process:

With KPMG Digital Strategy and Management, we support our customers in the development of their digitalisation strategy:

• Writing a digital vision / mission statement
• Developing a digital roadmap
• Setting up a digital PMO
• Etc.

At KPMG Digital Business Model, we support our customers in the (further) development of their digital business model:

• Identifying new business models
• Developing new products and services
• Establishing a platform and promoting collaborations
• Etc.

Through our KPMG Customer Experience, we support our customers in orienting their digital products to specific target groups:

• Developing personalised products
• Implementing a digital CRM
• Elaborating an omni-channel strategy
• Etc.

Under KPMG Digital Process and Organisation, we support our customers in the implementation and adaptation of necessary processes and organisational structures:

• Establishing and empowering agile organisations
• Digitalising business and support processes
• Designing digital workspaces
• Etc.

With KPMG Technology, we are able to help our customers build the necessary digital IT architecture:

• Performing data analytics
• Developing an open banking platform
• Launching blockchain-based products and services
• Etc.

With KPMG Digital People and Culture, we support the entire change process and empower people to think and work digitally:

• Developing a change story
• Coaching and supporting digital leadership
• Defining new digital collaboration models
• Etc.

With KPMG FinTech, we connect globally innovative business models of start-ups with banks to identify solutions for process optimisation or the development of new products:

• FinTech market scanning for specific issues
• Innovation challenge via KPMG’s own innovation platform Matchi
• Development of customised solutions with Accelerator as a Service
• Etc.

With KPMG Performance, we support our customers in identifying and increasing efficiency potentials:

• Developing performance programmes
• Supporting the implementation of performance programmes
• Developing (out)sourcing strategies
• Etc.

We also have the right solution for your business entity. Feel free to contact us.