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#6 – The Consortium Conundrum Pt 1 – How banks change things

March 7, 2021

Sponsored By

TRG
Welcome to the latest edition of the podcast series: The Banker’s Plumber – Lessons Learned.  What’s up in banking? What’s changing? What has gone wrong? What is going right?
Today, the focus on something I am calling the “consortium conundrum”. Banks want to and need to become more efficient; produce the same for less or more for the same. Some improvement steps they can take on their own. Only some though.  A very large part of the cost base for banks is driven by the need to collaborate with other market participants. Working on collaboration is all about infrastructure, trying to reduce friction and fragmentation. Getting enough banks to march in the same direction is really hard, unless there is a deadline. Herding cats.
What needs to be done, what works, what doesn’t?
To help explain the picture, I am delighted to have as a guest today James Maxfield, MD at Ascendant Strategy. James is a veteran of the operations side of wholesale banking. James is a frequent and thoughtful commentator on the future of banking.
Takeaways:
People & Process: the C-suite need to really understand end-to-end process – 35% of revenue is spent on the costs of MO / BO, 70% of that is people. Is the process as efficient as possible?
Complexities in outsourcing: move without understanding, moving broken processes,
Shared service function: senior management start with a big assumption “why not just do it” – hard to bring on a common platform, because 10 banks do the same things 15 different ways, even with the same platform. Hard for a provider to run these things in parallel; poor economics. Collateral management; what you can buy is better than what you have built
DLT: can happen, but market-wide change will take time
25.00CHF

The Bankers' Plumber's Handbook

Control in banks. How to do operations properly.

For some in the FS world, it is too late. For most, understanding how to make things work properly is a good investment of their time.

My book tries to make it easy for you and includes a collection of real life, true stories from 30 years of adventures in banking around the world. True tales of Goldman Sachs and collecting money from the mob, losing $2m of the partners’ money and still keeping my job and keeping an eye on traders with evil intentions.

So you might like the tool kit, you might like the stories or you might only like the glossary, which one of my friends kindly said was worth the price of the book on its own. Or, you might like all of it.

Go ahead, get your copy!

Click here you to buy and download your book

The Bankers' Plumber's Handbook

Control in banks. How to do operations properly.

For some in the FS world, it is too late. For most, understanding how to make things work properly is a good investment of their time.

My book tries to make it easy for you and includes a collection of real life, true stories from 30 years of adventures in banking around the world. True tales of Goldman Sachs and collecting money from the mob, losing $2m of the partners’ money and still keeping my job and keeping an eye on traders with evil intentions.

So you might like the tool kit, you might like the stories or you might only like the glossary, which one of my friends kindly said was worth the price of the book on its own. Or, you might like all of it.

Go ahead, get your copy!

25.00CHF
Click here you to buy and download your book

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