Business and Entity Transformation (BET) has been saved
Business and Entity Transformation (BET)
Strategies for navigating business model and regulatory complexities in financial services
See how our four-step process for business model optimization can help your organization achieve its strategic objectives, turn uncertainty into opportunity, and prepare for a successful future amid an ever-changing environment.
Business and Entity Transformation: Reducing blind spots and increasing speed to market
The past decade has represented a complex period for the financial services industry, both domestically and abroad. Two of the most significant economic events in history, the global financial crisis and the COVID-19 pandemic, as well as resulting business pressures, have dramatically reshaped the financial services landscape and reframed market conditions. Disruptive forces, such as digitalization, technological innovation, and rapidly evolving regulatory expectations, have fundamentally shifted the paradigm under which financial institutions operate and have forced organizations to adapt their business models and strategies or risk not being able to compete.
While presenting significant challenges for those unable to adapt, this period has also brought with it opportunities for executives to redefine their organizations’ business models and to reposition themselves within the broader financial services landscape for the decade ahead. Critical to achieving success has been the ability of executives to take a centralized, cross-business, crossjurisdiction, and cross-functional view of their organization’s strategy enabling agility and innovation. As the financial services industry transitions from a growth phase into one more uncertain in nature, leaders who consolidate bjectives into a singular, coherent strategy should be better positioned to succeed. But where can you start? And how do you succeed?
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So you want to be a bank series
This series explores how fintechs, banks, and other financial institutions can engage and adapt to the evolving state and federal banking license system in the United States given digital and product developments in the market (e.g., cryptocurrency), including obtaining new charters.
The way forward
Our four-step process for turning disruption into opportunity.
With the current environment serving as a driver for strategic change and so many strategic choices available, the question has become less about whether to adapt and more about how. The levers outlined below illustrate potential Business and Entity Transformation options for you to consider.
Are you ready to optimize your business model?
Deloitte is well-positioned to help financial services clients achieve their strategic objectives during these evolving times. We combine our breadth of knowledge and experience, as well as a suite of industry-tested tools and accelerators, to help guide you through your strategic needs, from developing a business model strategy to implementing new technologies and navigating regulatory nuances. Our teams can help you through this process and prepare for a successful future.
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