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Financial services & Government

The fundamental shift we are currently experiencing requires us to question the way we do things and implement far-reaching changes to the traditional models. It is against this backdrop that the insurance and financial services industry is evolving, forced to respond to the changing sociological profile of its customer base, longer life expectancy, the importance of digital technology and social media, the decline of customer confidence, and the incessant pressure of legislation.

In a perpetually evolving ecosystem these establishments need to adapt to change, rethink their business models and improve their time-to-market. New strategic challenges have emerged: 

  • develop new products and services to meet the extremely diverse and sometimes contradictory expectations of a heterogeneous clientele
  • optimise risk management in operation and new products and services development by involving each and every department of the organisation and complying and anticipating growing regulation 
  • improve pricing, modernise the performances of the banking network, and enhance customer satisfaction
  • improve organisations and technologies (PLM, etc.) and optimise processes to gain in efficiency and agility. 

These new challenges call for a profound change, an entire industrial rationale needs to be rethought, firstly to optimise, then to enhance quality of the consumer approach, operational efficiency, and business intelligence.

Case reference

Product Lifecycle Management system definition

Altran supported a European banking leader in a product lifecycle management system definition. Such a system, of which worth has been proven in industrial sectors, would be a first in the world of banking: Gathered in a single system, all the data pertaining to the product can be shared more easily and effectively among different stakeholders in the company. Thus, product lifecycle management reduced significantly time-to-market, risk and costs.

Case reference

FIDJI (Finance and Joy to Innovate)

Customer-centric design of new services: Within the Bank-Finance-Insurance club of innovation founded by Altran with several large bank and insurance companies, Altran brought its design-thinking expertise to test a new approach of designing financial services.