Product Description
148 slides
Over the past few years, while profitability has been strong in many markets, banks have focused efforts on low hanging fruit – what we would call, “simple cost reduction”, With the spectre of challenging times and implications of increasing risk mitigation costs, it is becoming clearer that Banks will need to migrate more of their efforts to more impactful, comprehensive initiatives to gain the advantages they seek.
In this paper, we have synthesised the global perspectives on the subject of cost reduction programs. We set out to answer the following questions:
- How do Banks think about costs and what are the key levers they have at their disposal?
- What tools do they use to manage costs?
- How do these tools differ for simple, complex and transformational initiatives?
- What are the critical aspects of managing a cost reduction program?
- What should banks and their stakeholders key considerations be in managing a single initiative or a portfolio of cost reduction initiatives?
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