The last six years have become synonymous with efforts by financial institutions to reduce costs and improve the efficiency of their operations. Having slashed costs to acceptable levels, financial institutions are now turning their attention to increasing revenues and growing the business, which management is all too happy to focus on. Increasing revenues is something that comes naturally to most financial executives, and they are continuing to improve, reporting recent record-breaking figures.
Capco, the global financial services and technology solutions provider, is pleased to announce the publication of the 17th issue of the Capco Instituteâs âJournal of Financial Transformationâ, entitled âGrowth.â The issue aims to help financial executives better prepare for growth and avoid the potential profitability compression that is being predicted. The Journal is available online by registering at www.capco.com/journal.html.
Rob Heyvaert, Founder, Chairman and Chief Executive Officer, Capco, states: âThere is no other component more important to the financial services industry than growth. The Journal of Financial Transformation has tackled this issue to ensure financial institutions are offered a scholarly view from an unparalleled set of minds, including Nobel prize recipients. We are proud of the content and know that financial executives will greatly benefit from each article and its unique insights.â
Dr Shahin Shojai, Director of Research at Capco, and Editor of the âJournal of Financial Transformation,â said, âFinancial institutions are fully aware that you cannot shrink your way to greatness. Lessons learned from over the past few years have taught financial institutions that the investments made in their operations and IT have not been wasted and that it is critically important to convert each of these cost centers into profitable businesses in their own right, which helps grow the business even further.â
Remaining true to the Journalâs tradition of publishing perspectives from winners of the Nobel prize in both economics and other disciplines, this issue of the Journal also has a contribution from Professor Maurice Allais. Professor Allais highlights the problems facing the European Union and provides prescriptive solutions as to how these issues could be best managed. Further, Angelo Gnaedinger, Director-General of the International Committee of the Red Cross (ICRC), shares with us his views about how the world of business could become a better partner for humanitarian organizations like the ICRC, and improve the way we help those in need.