Leading financial service organisations in the APAC region are being prompted to rethink their operating models for agility, speed, and efficiency in the face of disruptions precipitated by new challengers. Evolving customer expectations, increased regulatory scrutiny, and accelerated technology innovation have fostered a competitive and fertile environment that demands agility and speed.
In this report, we explore the impact of current and future operating model across three different categories - work, workforce and workplace. Our findings are based on a survey of financial services organisations across five major Asia Pacific financial centres: Mumbai, Sydney, Singapore, Hong Kong and Tokyo.
New technology innovation, agile working norms, and empty office buildings are begging incumbents to ask fundamental questions about their operating models including:
We conclude that asset light operating models have significant advantages and there is much to learn from challengers and leading incumbents, who are adopting these asset light approaches and models.