Management Consulting

What Consulting Do the Banks Need and should Look For?

Macro consulting can be once in a while

Unlike other businesses, the requirement of banks for external consultants extends much beyond macro level business strategies, organizational structure revamps, mergers & acquisitions, human resources optimization, introduction of Information Technology for the first time or overhauling it after few decades of use, etc. The need for consultants for major overhauling in some of the above indicated areas in banks, may arise once in a while in few decades and is quite expensive and it takes long time to get the desired impact.

Micro consulting at activity level – Unavoidable year through

However, on a day-to-day basis, banks do require expert consulting services in several sub-sets of their vast activities through business process reengineering or automation, etc., to bring in the best industry practices and let some of the activities be performed on one-time basis by external consultants, as a cost-effective proposition, or be automated through standalone software solutions. This route is preferred by most bank over developing bank’s own internal experts, and letting them either stagnate in the same activities for years to come, or keep developing new experts every 2-3 years. Even then the banks do not get the advantages of engaging consultants who bring in the best industry practices. Inhouse developed/hired expertise turns out to be quite expensive in the long run, as intermittently, internal resources may remain idle for long durations.

Consulting in emerging areas to be ahead of competition

In addition to hundreds of sub-sets of the major consulting areas, there are many emerging areas in banks which need expert advice. These areas range from activity specific policies and processes development, or activity specific business process reengineering, or compliance risk assessment and mitigation or compliance function review/audit like management audit, or regulatory inspection preparedness pre-audit, or documentation of standard operating processes and operational / compliance manuals, or training and development in specialized areas which need not be business specific areas, or activities like records management policy & processes overhauling, etc.

What makes APCORE different from other management consultants? Our USP

The consultancy business is full with management consultants who vie with each other to reach out to the banks and assist them in major areas. Many of these firms do provide valuable inputs at the macro level consulting.

However, for handling sub-set level issues at micro level, on one hand, these consulting firms become highly expensive, and on the other, majority of them either shy away or try to engage some freelancer banking consultants to bridge the knowledge gap of their professionals. Which, in effect dilutes the very brand equity associated with such consultancy firms.

Also, unfortunately, other consulting firm do not have any up-to-date inhouse repository of regulatory instructions (more than 25 regulators regulating banking activities), for which they depend on publicly available information, reference to which is unavoidable for consulting in any area of banking at micro level.

APCORE offers a unique combination of more than 200 years of working experience in banking industry and 3 decades of management consulting experience with clients ranging from multinational foreign banks to technology driven new private sector banks which are in the process of setup, or have been established for more than a decade or two; from large public sector banks to co-operative banks, and the banking regulator (RBI).

APCORE’s client consulting ranges from framing policies to designing complete systems for new banks; from business processes reengineering to documenting SOPs, manuals; and from undertaking credit appraisals to regulatory inspection readiness pre-audits, etc. Even foreign banks, before becoming wholly owned subsidiaries consult APCORE on regulatory matters, to understand the gaps in regulatory requirements expected from a WOS vis-à-vis a foreign bank.

Knowledge at fingertips is what makes all the difference. APCORE specialises in regulatory matters and it is one of the few rare consulting firm that possesses up-to-date regulatory repository of more than 25 regulators and has done enormous research work in the regulatory and compliance areas. Ask APCORE “how many and which policies” have been mandated by RBI? Pat will come a reply that surprises most bankers. Ask the same question to any other consultant or a banker or even the regulator; none will have an answer to such question.

The Instinct for survival amongst the best brains, integrity, passion and agile entrepreneurial mindset with strong focus on success coupled with creativity and pragmatism make APCORE different from other management consultants!

The Advisory Council at APCORE comprises of professionally qualified seasoned senior level retired bankers from public sector, private, foreign and co-operative banks, who have been neck deep involved in firefighting rather than being only administrators or decision makers. These professionals have deep industry experience and cross-functional expertise.

The members of the Advisory Council personally lead a team of mid-level professionals, who are also involved in day-to-day research activities, and are thorough with regulatory and statutory expectations from the banks.