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SERVICES > Risk Advisory Services > Business Performance Services > Financial Services | |||
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Financial Services
An overview of our services is given below:
New Business development The opening up of the Financial Services markets in India is attracting existing players into new lines of business, as well as new domestic and international institutions. Our new business development service involves carrying out feasibility studies to assist institutions understand the industry environment, regulatory requirements and the future business scenario, to enable them to take informed entry decisions. Business Strategy With the financial sector changing at an ever-accelerating rate, the competitive dynamics of the industry is evolving rapidly and the rules of the game are getting re-defined. While new technologies and distribution channels threaten to erode traditional power bases, the forces of consolidation are embracing most segments in the financial services market. Further, regulatory developments are opening up markets whilst also upgrading norms to international standards. KPMG's strategy framework assists in aligning business strategies to this challenging environment. The key services provided to existing as well as new financial service players include: Strategy development,which involves articulation/clarification of vision and objectives, identification and evaluation of strategic options and selection of strategies. The focus areas include organization structure, competitive positioning, product/segment strategy, information technology, marketing and distribution, and overall business profitability. Business plan formulationis designed to provide a comprehensive analysis of the organization's business units and the markets it operates in. The objective is to identify key business drivers, provide detailed guidelines for goal setting and formulation of action plans. We also assist new companies with license applications to the regulators. Business Transformation Business Transformation works on the process that the future is first created in the mind and when detailed and lived to its finest level, becomes reality. The entire process is highly structured. It begins with the CEO imagining the future desired direction at his organization. The future is detailed to a very fine level through milestones for each year. The organization's management then revises the vision to a level which seems ambitious yet achievable. Major discontinuities in the environment, which could fundamentally change the nature of the industry, are assessed. The entire firm is then geared to exploit these discontinuities. A clear transformation map is crafted which highlights the route the firm would adopt in various parts of its business as it goes ahead. The exercise is completed with the implementation of the designed transformation framework. Risk Management The risk management and control framework defines how a financial institution should organize itself to manage existing and potential risks. The focus at all times is on the provision of a tailored solution to meet an organization's particular needs. Our risk management process assists an organization through all the steps required to define and implement effective risk management policies and procedures. We ensure that our clients understand the issues related to their risks through a continual process of information sharing and skills transfer. The nature of services include: Risk diagnostic tool that provides a rigorous independent assessment of existing risk management practices and plans for implementing regulatory guidelines in risk management. The diagnostic tool is tailored to provide clearly defined recommendations for overcoming weakness, and solutions to address fundamental gaps. Asset Liability Management (ALM) capability tool involves risk diagnostic review to identify major issues and quantify the exposures of the organization. The second part of the exercise would be developing an ALM strategy, redesign of processes and developing action plans for implementation. Credit Risk Diagnostic is designed to comprehensively test existing credit risk management practices, benchmark with best practices and provide clearly defined recommendations to address fundamental gaps. Business Performance Improvement ('BPI') The key challenge facing financial institutions is to create business capabilities in line with emerging requirements within the market. The BPI exercise synthesises KPMG's expertise in performance improvement methods, best practice solutions and industry benchmarks and trends. Our BPI approach is strategic and focuses on assisting our clients to build a strong competitive position through:
Enabling Technologies Technology is a key enabler for financial institutions trying to respond to market demands and opportunities. Our World-Class Information Technology (WCIT) practice is structured to transform IT capabilities for clients, thereby realizing and sustaining business value from their technology investments. The key services are: IT Strategy Services, which establishes the directional path chosen by the organization's management for integrating technology with business. Our approach takes clients through a diagnostic review, through the development of a vision and strategy, and on to actionable plans that will allow them to implement their strategy. World Class Information Technology (WCIT) Assessment services provide an end-to-end assessment of the client's IT function. The exercise reviews identified focus areas from the perspective of people, process and technology. The key observations and recommendations are backed by actionable plans, which when implemented will ensure the alignment of the client's IT function with business. Package selection and implementation outlines specific methods and tools to support the selection and implementation of packaged software; our methodology is called siipsTM. Programme management that manages the entire implementation effort, coordinates multiple works streams, manages cost, benefit, time and quality during an IT solutions implementation Outsourcing Advisory Services Outsourcing is becoming a key component of business philosophy. It is now seen as a business strategy that allows organizations to focus on core competencies and exploit the capabilities of others to deliver competitive advantage. Our solution offerings cover the variations of outsourcing models Outsourcing
Shared Service - the centralised delivery of services which are common across business functions, usually a precursor to other components of outsourcing Insourcing - the delivery of services to entities external and separate from the delivering entity (opposite of outsourcing) Self Service - the application of Internet/Intranet technologies to allow employees to initiate and perform their own transactions For further details contact us |
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KPMG's Financial Services group addresses strategy, operations, technology and risk management issues in formulating end-to-end solutions to meet the requirements of the following market segments: |
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