Today's business environment requires financial institutions to expand their services to global markets. As banks are making plans to globalize, many fail due to poor project execution. Financial institutions need an effective execution plan to support their global expansion projects.
In today's global business environment, financial services institutions are facing an unprecedented degree of change. Key challenges that they struggle with include shifting global growth and wealth allocation trends, increased global trade levels, changing corporate and consumer demands, and rapidly evolving regulations. In response to these changes, financial institutions are identifying and investing in the opportunity to accelerate global initiatives.
Plans to globalize often struggle with execution, resulting in significant time or cost overruns or delivering only a fraction of the anticipated benefits. To reduce the adverse value impacts of sub-optimal execution, financial institutions should focus on the following four critical success factors:
These four critical success factors—together with an institutionalized execution capability—provide a framework for effectively managing large global initiatives