Smarter sourcing in a post-crisis environment

The financial services industry went through a dramatic turn of events during the past year or so, to an extent that many were questioning its long-term viability and sources of strength. While it is imperative that we try and learn as much as we can from past mistakes to prevent them from happening again, it is also time to look forward and prepare our banks, and banking system, for the future. We must all take steps now to advance the best practices that promote agility, innovation, and process transparency in the face of volatility. Moreover, these must be coupled with effective governance, control, and risk management in the ongoing quest to protect and enhance shareholder value. This paper highlights how a new operating model, which entails managing - in an integrated and holistic manner - a hybrid environment of internally and externally sourced operations will help firms achieve these objectives.