Industry expertise accelerates results.
We have exceptional depth in several industries where we can bring decades of expertise and know-how to address specialized challenges.
Payments
The payments industry is more competitive, dynamic, and open than ever. Traditional card-based economics are being disrupted, while the pandemic has decimated T&E spend and is challenging customer loyalty programs. Our depth of experience in this sector has helped clients reinvent payment and credit models, enabling them to rethink experiences for consumers, small businesses, large enterprises, merchants, and B2B suppliers. We partner with payments institutions to accelerate their time-to-market for new products, facilitating faster and greater capture of customer wallet share.
Where we’re playing in Payments now:
The advent of Real-Time Payments in the US is already causing disruption, just as it has abroad. The ability to marry – and then apply – academic perspectives with pragmatic experience will help payment providers stay ahead of the competition. Further team members have served previously as members of the Fed’s Faster Payments Task Force and are currently serving as members of the US Faster Payments Council to help chart the path ahead.
Traditional card issuers want to expand into the growing B2B space but are often limited by economics, e.g., cost of cash. Opening non-card pathways for payment has created new opportunities for value.
It’s not enough these days to offer the ability to safely send payments to recipients across borders and across currencies; rather, one must do so faster, more efficiently, seamlessly within other payments journeys, and of course, cheaper.
Banking
Banks have never seen more disruption, from unprecedented market and regulatory challenges to intense competition from both BaaS and challenger. Today’s customers expect personalized and streamlined digital experiences in our fast-paced, always-on world. We work with financial services firms to establish transformational strategies, build new digital capabilities, and accelerate launches, all while modernizing core business operations.
Where we’re playing in Banking now:
FinTech companies are eager to carve out bigger and bigger pieces of the Financial Services ecosystem. Where some see threats, others see opportunities to partner or integrate, thus unlocking ways of accelerating new and exciting capabilities.
With the transactional element of payments commoditized, our clients have recognized that greater value comes from financing transactions or their associated payables or receivable.
Commercial underwriting has woefully lagged consumer when it comes to digitization and automation. FinTechs and customer expectations are rapidly changing this, and the ability to seamlessly integrate underwriting with onboarding and bill pay processes is critical for maximizing spend.
Healthcare
The healthcare landscape continues to face tremendous change and regulatory scrutiny, and the demand for digital engagement in the current environment has never been greater. We partner with healthcare insurers and providers to realize their visions of seamless digital experiences, while also modernizing decades-old legacy infrastructure and enabling new operational efficiencies.
This new regulation requires payers, providers, and self-insured group health plans to either furnish the patient with out-of-pocket cost information or make the costs associated with their procedures available. This has the potential to transform the patient experience when it comes to elective procedures, and our clients are looking to be leaders in defining that new digital experience. There are also massive impacts on compliance, pricing strategies, and tech innovation that must be assessed and demand thoughtful strategic planning.
In a fractured healthcare landscape, the ability to exchange information safely, securely, and easily is critical to support patient outcomes, value-based reimbursement, and telehealth. Such data is especially important for the Centers for Medicare & Medicaid Services programs such as VBP, HRRP, and HAC. Our payer and provider clients have therefore been prioritizing infrastructure and data initiatives such as cloud migrations and new data management & governance strategies, as well as an increased focus on cybersecurity.
Insurance
The insurance industry is experiencing unprecedented challenges on multiple fronts: ever-evolving customer needs, expectations for AI-driven value, digital business model competition, omni-channel distribution, and significant pricing pressure. All of this requires carriers invest in data-driven decision-making, upskilling of people, and an ‘agile platform’ approach.
The following areas highlight how we help insurers win:
The ‘fourth industrial revolution’ has precipitated the next wave of digital transformation, even before most firms fully exited the last round of digital modernization. We help insurance companies evaluate and integrate the next wave of technologies and related ecosystem partners to deliver a compelling customer experience, an efficient and secure operating platform, and innovative, personalized products.
As insurers develop new innovation capabilities, they struggle with critical legacy issues: a long-standing culture, constant integrations with core technology, and managing a portfolio of bets along different time-horizons. We help insurers navigate the complexity by applying proven experience and approaches to balance core operations with new innovation investments.
Truly knowing your customers requires more granularity of insight than ever. Customer priorities, behaviors, preferences, and motivations become necessary inputs for creating a delightful experience and maintaining a competitive offering. Effective journey mapping must include data-driven analysis of customer segments and personas. This should reveal opportunities that don’t just improve customer experience, but also enable greater digitization and automation to boost your company’s performance.
The rise of InsurTechs has accelerated change throughout the insurance landscape, from component technology providers, to product and distribution partners, to full-stack competitors. Both insurers and InsurTechs should continuously embrace partnerships, investments, and/or acquisitions as a path to growth. We help clients define, cultivate, and monetize the evolving go-to-market ecosystem.
Travel & Hospitality
As consumers regain confidence to travel, the industry must be prepared to meet an evolved landscape of consumer expectation. Internal operations need to focus on rearchitecting core systems with a cloud-first mindset and DevOps based principles, while front-end experiences require a shift to digital expectations with the whole-trip in mind, focused on efficiency, cost, and safety. We help transportation providers stay ahead of the curve to transform their journey operations as they respond to new realities.
Case Studies
Our clients call us truth-sayers – trusted advisors who drive actionable outcomes. Learn more about our past projects and the impacts our engagements have generated.