What is ‘Digital Age’ Technology for CIBs?
From the mid-1980s to the mid-1990s, corporate and investment banks were a tremendous engine of technology innovation.
GreySpark Delta-X
The Digital Maturity Index for Corporate & Investment Banking
Our Value
What remains complex is the development of a precise understanding of when efforts toward achieving new, digitally-transformed states will fully manifest within the banking industry, resulting in the creation of an automated, front-to-back reality for wholesale markets financing, lending and trading services.
In 2019, a new GreySpark service offering – the Digital Maturity Index for Corporate & Investment Banking – aims to bring clarity to that complexity through the assembly of 60-plus banks’ assessments of the veracity of their respective digital innovation target states and the expression of those objectives to-date within the sophistication of their current front-office functional capabilities.
Interested in GreySpark's Delta-X Services?
In 2019, a new GreySpark service offering – the Digital Maturity Index for Investment Banks – aims to bring clarity to that complexity through the assembly of 60-plus banks’ assessments.
GreySpark Delta-X Service Offering
Digitalisation applied to Corporate & Investment Banking
Whichever strategy they follow and whatever transformation they undertake, investment banks now face four existential threats:
- The commoditisation and unbundling of the products and services that they offer;
- The compression of margins resulting from this great simplification and the ensuing, increased competition;
- The progressive, but ineluctable, elimination of informational advantages; and
- Figuring out which workforce is needed and the jobs it has to perform.
To overcome these challenges, one must rethink and change a bank’s ways in depth:
- Which behaviours should be encouraged or deterred?
- How products and services are manufactured?
- How they are marketed and distributed?
- How to manage data as the most valuable asset the bank holds?
- How to hit the “reset button” and purge 35 years of accumulated technology debt?
Defined, the digitalisation of the investment banking business brings several very tangible opportunities:
Improved Productivity
- Beyond the automation of labour-intensive tasks. Equipped with the right information, banking professionals can maximise their outputs by leveraging two uniquely human abilities – empathy (may that be with clients, colleagues, business partners or suppliers), and rational decision-making in new or uncharted circumstances.
Reaching Clients Everywhere
- With few exceptions, most investment banks have retrenched to and are refocusing on their core geographies and client franchises. With fewer resources on the ground, only e-commerce and e-distribution solutions can enable banks to remain relevant to their existing and potential customers.
Reaping the Benefits of Network Effects & Ecosystems
- Investment banks can no longer offer everything to everyone, everywhere or do everything themselves. Shared platforms enable the rebuilding the economies of scale no longer achievable on one’s own.
The Ability to Move Faster, Further & Deeper
- By integrating technology from the onset into the design of products and services, development cycles are dramatically shortened. It becomes possible to fail fast, to adapt iteratively to market circumstances and client demands, to innovate both incrementally and radically.
Delivery
GreySpark has built a robust methodology exclusively applied to Corporate & Investment Banking.
To drive and incentivise constructive change in behaviour, practices and outcomes, objective assessments and measurements of that change are required.
GreySpark designed Delta-X for that sole and explicit purpose:
- Delta-X is specific to Corporate & Investment Banking;
- Delta-X is precise, covering 20 discrete metrics organised in the 5 pillars relevant to Global Markets activities;
- Delta-X is objective, independently assessing the metrics against a constant set of benchmark measures; and
- Delta-X is scalable, best applied at business unit level and roiled out across the bank, with annual evaluations.
By adopting GreySpark Delta-X, our clients’ senior management, innovations heads and digital officers can:
- objectively assess the level of maturity of each of their business units;
- create positive incentives to foster emulations between lines of business, and
- drive continuous improvement year after year within each unit.
GreySpark has developed a rigorous and standardised methodology that maximise the relevance and accuracy of the evaluations, while minimising the efforts required from our clients:
- Data gathering activities combine surveys and direct interviews;
- Evaluation and scoring are performed independently;
- Individual scorecards and recommendations delivered within four weeks of project start;
- No hidden fees with a fixed price per assessment;
- Ability to perform multiple assessments within a given bank in parallel; and
- Provision of up-to-date industry benchmark data.
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