Banking and Financial Services

Compex business and customer solutions currently reflects mainly the demand for faster response from the banks and financial institutions towards clients. There is also the pressure to simplify each customer interaction - a simple process of purchase, undertandable wording of agreements, smart business terms and conditions, easy to manage products, etc. These trends go hand in hand with further development and investment in banking technologies, mobile platforms included.

These development activites are up-todate topic for majority of top market players but the continuous process of lean management in different areas has the same level of relevancy for efficient bank operations. There is the opportunity for the companies to balance all their activities and win the customer.
 

Our services:

• Branch performance evaluation and competition comparison
• Assesment of all client contact points – functionality and performance
• Cost optimization
• Process effectiveness improvement
• Lean and Six Sigma
• Collections optimization

Contact:

• Martin Vurm
  Advisory Services
  Tel: +420 251 151 207

 

 

More about advisory for financial institutions

 

 

 

The effort to centralize and optimize systems and operations is the current trend in the banking information technology area, bringing along the unification of data warehousing, establishment of competence centres, off-shoring, etc. Also, recently the Czech banks tend to participate in pilot projects to introduce new solutions, which are later implemented within their group. At the same time, however, the pressure on cost reduction still persists, which also applies to the information technology environment.

 

Services:

• Use of electronic information channels
• E-banking
• Customer relationship management and marketing (CRM services)
• Management of customer data governance including security
• Business Intelligence of System Campaign Management
• Possible use of social networks

 

Contact:

• Martin Vurm
  Advisory services
  Tel: +420 251 151 207

With the recent market turmoil it is often difficult for banks to modify annual budgets to match the current outlook. Greater flexibility can be achieved by implementing an adaptive planning and budgeting supported by adequate performance measurement and motivation of management and employees in line with the corporate strategy. It is essential to well understand the cost allocation in terms of maintaining profitability, the more stringent regulatory rules related to Basel III and in terms of liquidity.

 

Services:

• Selecting and implementing appropriate pricing policy
• Consultations related to cost management
• Basel III
• Management of liquidity risk and assets and liabilities
• Enterprise Performance Management (including shaping the vision and strategy, planning processes, reporting related to investment management, employee motivation)
• Business Intelligence
• Resource allocation (including ABC methodology)

We provide third party assurance services (audit and limited reviews) in accordance with both International Standards on Auditing / International Standards on Review Engagements, as well as the Czech Chamber of Auditors' standards. Our banking clients are served by a banking-industry-focused team of auditors with extensive experience in auditing banks and other financial institutions. To prevent any potential conflicts of interest, the other services outside the audit scope are provided to our audit clients while taking into account the ethical standards of the audit profession.

For more information click here

 

Contact:

• Petr Kříž
  partner, Assurance Services
  Tel: +420 251 152 045

Financial regulation in the current post-crisis environment has become the extensive complex of different measures. Comprehensive international regulatory agenda and implementation of local standards limits should decrease the likelihood of further market failure. However, regulations in individual countries often differ or are even contradictory and the timeframes for their implementation are not united.

Banks have difficulties to monitor and implement evolving regulatory framework and there is often lack of sufficient capacities to analyze its impact on particular processes. Our expert team is ready to work with you and participate in the setting of adequate risk management system which enables to manage the exposure to individual risks in line with the bank's overall strategy.

Our services:

• Strategic preparation for the new Payment Services Directive 2 (PSD2)
• Preparation for European Banking Union regulations (Asset Quality Review, Single Supervisory Mechanism diagnostic, Banking Recovery and Resolution, Risk Model Review, AnaCredit etc.)
• Implementation of MiFID II/MiFIR and connected regulations (PRIIPs, MAD2, MAR), automated interchange of accounts information (Common Reporting Standard, FATCA)
• Governance and risk operational models, Compliance regulatory monitoring
• Increase of collections efficiency
• Risk reporting
• Strategic management of market, credit and operational risks

 

Contact:

• Vincent Santamaria
  Financial Services
  Tel: +420 251 152 071

 

 

We will be pleased to provide you with more reference studies, please contact us.

 

 

Economic crime remains a serious problem and no company is immune to it. Number of international statistics show that the financial sector is the most vulnerable to the risk of fraud. Economic crime has not only financial impact, but can also result in damage to the reputation of the company. Therefore banks and financial institutions should be sure that their system for fraud prevention and detection is working effectively and they are able to detect potential fraud, committed by external entities, as well by their own staff, as soon as possible.

Services:

Identification and assessment of fraud risks (Fraud risk assessment) Assessment and testing of anti-fraud programs effectiveness (prevention and detection), including protection against money laundering (AML) Data analysis focused on risk areas or suspicious transactions such as loan portfolio, procurement, payroll, payment to suppliers Investigation of suspected fraud cases, including capture provision of electronic evidence, data leakage, theft of sensitive data or misuse of information systems

Compliance audits Programs “Know your employees and business partners" Assistance/Advise during selection process of system for fraud detection and assistance during implementation phase Accounting, financial and economic consultancy and expert evidence for court and arbitration proceedings involving complex business matters

Contacts:

• Kateřina Halásek Dosedělová
  Forensic Services
  Tel: +420 251 151 293

Human capital is one of the most valuable resources in the framework of a successful company. Human resources must be aligned with corporate strategy, support customer orientation and bring innovation to all parts of a company’s business. This often requires measuring and implementing investment in human capital, transforming HR services to achieve efficiency and setting up transparent communication, correct motivation and well-made change management.

 

Services:

Optimisation and audit of HR processes Measurement of Human Capital Return on Investment Changes in organisational structures, processes, roles and responsibilities Performance management Satisfaction and engagement management of employees Strategic workforce planning (workforce management, talent management) Support for sending employees abroad

Management of international mobility Change management in methods of operation and organisational culture People management Assessment Centre preparation Strengthening or modification of corporate culture and internal communication Role of HR department as an internal partner in the company

 

Contact:

• Andrea Linhartová Palánová
  Human Resource Management
  Tel: +420 734 798 869

Banks, lenders, sponsors, creditors and debtors rely on our expertise in banking and financing across a wide range of industries in commercial and governmental sectors. Thanks to our cooperation within PwC, our clients are in an ideal position to benefit from a unique combination of innovative tax and legal advice with first-class transactional expertise.

We provide clients with sophisticated advice on the whole range of financial products, including syndicated loans, speculative and acquisition financing, product derivatives, financial regulatory rules, insolvency and restructuring.

Thanks to our broad international background and local experts, we assist our clients in acquiring financial means locally, as well as with international transactions in Central and Eastern Europe, or anywhere in the world.

 

Services:

Acquisition finance Mezzanine finance and subordinated finance Syndicated loans Project finance Mortgage finance Financial restructuring Loan and security arrangements Structured finance and securitisation

Regulatory framework Banking Loan and own capital market Private equity, risk capital Tax planning and structures Project structuring and management Insolvency and restructuring, including pre-insolvency proceedings

 

Contacts:

Bořivoj Líbal partner, PwC Legal Tel: +420 251 152 929

Petr Kincl PwC Legal Tel: +420 251 152 905

The Czech Income Taxes Act allows taxpayers to deduct from the corporate income tax base 100% of expenses incurred when realizing R&D projects. The tax savings available to the company in respect of the performed R&D activities result from the fact that the eligible R&D costs may be applied twice – once as tax-deductible costs and then again as a tax allowance.

The basic criterion for differentiating R&D from other (related) activities is the presence of a measurable element of novelty in R&D and clarification of research or technical uncertainties.

Examples of R&D projects in banking:

• Research on projection methods; development, usage or maintenance of software
• R&D related to electronic banking, internet-related services and e-commerce applications
• Development of risk models of credit policy (e.g. Basel II).

Services:

• Assistance with identifying projects eligible for the R&D tax allowance
• Preparation of the legally required documentation in cooperation with the company’s experts
• Evaluation and maximisation of the R&D tax allowance

 

Contacts:

• Zenon Folwarczny
  Tax and Legal Services
  Tel: +420 251 152 580