30 November 2018 4 min read

Our work in financial services

We are proud to be the financial services consultancy firm that is working with our clients to help them tackle many of the most significant challenges that society, our industry and the economy face.

We are passionate about a number of topics, including:

  • Climate change
  • Generational financial crises
  • Safety and security for consumers and markets
  • Supporting small and medium size businesses to drive economic growth
  • Shifting our industry to consumer-led products and services that solve real client needs

Examples of our work:

Vulnerable customers
In partnership with design agencies Softwire and Zavial, we have designed and are developing an app to support consumers with mental health issues to overcome challenges they face with their everyday finances. The solution leverages chabot technology to give 24/7 responses. We were delighted to have won the ‘Eureka’ award at the 2017 FCA and Money & Mental Health tech sprint event, and are preparing scale-up and launch of the app.
Agile transformation & delivery
We brought an end-to-end delivery approach to develop and rapidly deploy new technology solutions, and built - in less than 12 months - a new business model that enables the sales of eight products across four geographies. As a core pillar of the client’s growth strategy, the new organisation transforms customer choice: it enables all customers to access the complete suite of products, across all of the four geographies.
Climate change
We work with the C-Suite of major financial services institutions to help them understand the role they can play in climate change, manage the risks it brings to them and their clients, and focus on investment decisions for the future.
Open banking
We are working with the largest UK banks, the Open Banking Implementation Entity and regulators to help shape and drive the rollout of open banking. This is opening up the market to new competition, and also revolutionises how banks and non-banks can serve their customers. We have also supported conversations with the European Banking Authority on lessons learned for the EU.
Supporting a regulatory body
Over a period of nine years, we have provided support to ensure that consumers receive the compensation they deserve when financial firms fail them. Our work has ranged from designing and delivering a solution that enables faster compensation to people who have lost money through financial defaults, to reviewing the current and future IT infrastructure in order to deliver on ambitions for the 2020s and meet customer requirements and harness new technologies.
Getting fit for the future
Over the last two years we have partnered with Softwire software engineers and a major insurer to design, implement and leverage an award winning strategic data asset across the organisation. This has enabled data visualisation, analytics, significant business improvement and efficiency, and allowed the client to improve its customer service.
Transforming competition and services to the UK’s small business
We are working with Banking Competition Remedies Ltd on behalf of the government to manage the application and evaluation of bids for the Alternative Remedies Package ‘Capability and Innovation Fund’, a £425 million fund aimed at promoting competition in the market for banking services to small and medium enterprises. BCR appointed Baringa to deliver the pre-Board processes and act as a resource to the BCR Board, proposing a shortlist for their decision-making. For more information on Baringa's role, please visit the BCR website.