Helping Financial Services Adapt in a Shifting Competitive Landscape

Keeping pace of on-going regulatory change, whilst focusing on digital transformation, convergence and disruption from non-traditional competitors.

Challenges you may be facing

  • Complex regulations and cybercrime make operational compliance harder
  • Developing the right customer experience for customers, including vulnerable customers, in light of Consumer Duty.

  • Dealing with the impact of switching on loyalty and retention

  • Legacy systems and processes holding you back

  • Digital-savvy new entrants that disrupt

  • The impact of emerging technologies, i.e. blockchain, AI, big data

  • Business as usual or regulatory compliance slowing down innovation

  • Supplier and IT environments are highly complex

Benefits we can bring

  • Accelerated digital maturity across the organisation
  • Clarity, certainty and explicit routes to successful digitally-led change
  • New customer growth through effective digital marketing transformation
  • Reduced churn via enhanced multichannel customer experiences
  • Competitive advantage via compliant product innovation
  • Faster and effective decision-making on which technologies and partners to chose
  • Lower costs of operations via process rationalisation and digitisation
  • Safe operational compliance in line with Consumer Duty, GDPR, Payment Service Directives and more

  • A falling risk profile through data security enhancements

Clients we have helped

mastercard

“…Great support to our strategic development. Highly attuned to the needs of our market and business, allowing us to deliver a convincing argument…”

all funds
allfunds

“The DWG team was instrumental in developing a rapid transformation plan for the business, designing the strategy, closing critical gaps, and delivering monetisation opportunities.”

“Clear expertise in strategy development, knowledge of the payments industry, flexible / inclusive approach, all delivered on time and to budget, made for a great experience..”

Female and male sitting at a desk taking part in a meeting. Behind them on the wall are multiple groups of organised post it notes, grouped by colour. Agile Transformation. DWG Case Study working with MDU.

“Working with DWG was a good decision because they successfully guided us through the process to change our organization, while ensuring they imbedded knowledge within our teams to ensure we are now self-sufficient.”

reckitt case study image
reckitt logo

DWG helped Reckitt to implement a new system that could efficiently draw data from manufacturing and the supply chain for use by the finance teams for reporting, analysis, and gross margin management, enabling the SLT to make rapid and accurate decisions.

iprism case study

“DWG quickly delivered clarity in our strategic planning and resolution roadmap. Their help in changing our technology function has also been a critical factor in our success.”

Services

  • Digital strategy planning for successful transformation or turnaround
  • Internationalisation approaches for growth
  • Optimised online marketing approaches
  • Successful, end-to-end, multichannel customer experiences
  • Loyalty scheme development
  • Regulatory compliance (e.g. Consumer Duty)

  • Innovation-as-a-Service to create game-changing propositions. Using AI, blockchain, Robo-advisor and other enablers
  • Strong programme management to help manage and de-risk your change
  • Digitising your operational processes for cost and efficiency benefits

  • Organisation and delivery change to allow the business to become nimbler and more responsive
  • Identification and selection of the right commercial partners and disruptive technologies for your business
  • New product development and improved digital assets in web and mobile

  • Providing strong interim or contract resources to help you deliver

Consumer Duty

The Consumer Duty raises the standard of consumer protection and places huge emphasis on good outcomes for retail customers. This regulation has wide-ranging implications, so the impact of this change should not be underestimated. Your compliance applies to the entire design, development and life cycle of a consumer product or service and the FCA expects you to put your customers at the heart and centre of all of your business practices.

Need an audit?

If you’re not sure you’ve done enough to be compliant, then why not get a Consumer Duty Audit? An independent and objective perspective will provide a 1.5 day review of what you’ve implemented to check for compliance and we will also highlight any areas that may need improvement. The assessment will cover:

  • A review of your previous gap analysis and status to check what’s been addressed and what hasn’t
  • A review of your governance framework including your approach to collecting relevant data, roles & responsibilities
  • An assessment of your operating model for ongoing compliance
  • A review of your approach to “fair value” assessment (frontbook and backbook applications)
  • A high-level review of your product terms and features and their alignment with the four outcomes and cross-cutting rules
  • A high-level review of marketing & customer communications across all channels and their alignment with the four outcomes and cross cutting rules
  • A general review of your customer experience to check how you are assessing customer needs
Consumer Duty audit. Male customer service agent wearing a headset is sitting at a desk.

Meet some of our team

We have an experienced team that can bring fresh thinking and sector knowledge, with end-to-end expertise across strategy, commercial, product, project, technology and marketing.

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