Advisory Services
Strategic Assessment
"We needed someone to come in with ‘fresh eyes’ to perform an honest evaluation of our current state as well as our future direction"
The Challenge
Financial institutions are challenged by the shift in revenue models, market opportunities, and intense competitive threats to their market segment. However, attempts by institutions to self-assess are often stifled by politics, pride of authorship and limited exposure to the broader market.
Catalyst Response
Catalyst understands the complexities associated with the successful deployment and management of the ideas and technologies you need to be competitive. Catalyst will perform an objective and comprehensive review of your current solutions, technology, workflows and processes including:
- Legacy systems and processes
- Benchmark operational/technology costs relative to peers in the industry
- Gap analysis of current state vs. strategic direction
- Workflow restructure
- System architectural review
Catalyst will provide you with a detailed "report card" as well as recommendations for those areas with the greatest potential for improvement. This can be tailored to the functional, departmental and/or institutional level.
Benefits
Catalyst's value comes from the ability to offer advice from a broader perspective and an organized process that maximizes your time invested. Catalyst will deliver a plan that is comprehensive, executable and a source of guidance for future decisions - not just another booklet for the shelf.
Technology Planning
"Catalyst helped us realize a technology plan is the single most important ingredient to effectively use technology in our bank. The technology planning process helped us minimize technology-related crises, use staff time efficiently, and avoid wasting money."
The Challenge
For financial institutions interested in improving their technology planning process, Catalyst offers Enterprise Technology Planning, a service designed as a roadmap for developing or improving your institution's technology plan.
Catalyst facilitates your planning process with an organized approach that saves time, yet produces a comprehensive plan that ensures continuity between your business requirements, current and available technology, scalability and the resources needed to support it.
We look at markets and trends, competition and customers, at the organization and its resources – then use what we learn to ensure that the future direction can be successfully implemented.
Catalyst Response
While this plan is individually tailored to each organization's needs the following components are the framework from which we begin the process:
- Technology Plan Development
- Documenting the Business Strategy
- Analyzing the Business Strategy
- Mapping IT Assets
- Perform a Gap Analysis
- Strategic Vision and Governance Model
- Decision Making Framework
- Publish, Promote, Maintain the Strategy
Benefits
Catalyst value comes from the ability to offer you a structure from proven experience and an organized process that maximizes your time invested. We leave you with a plan that is comprehensive, executable and a guiding source for making future decisions.
Business Case
"the ideas we came up with seemed like the perfect solution for us... now all we needed was to be able to justify them based on real numbers, not pipe dreams"
The Challenge
Justifying change within your institution, whether organizational or technology-related, can be a complicated and oftentimes emotional process. Those in favor of the change tend to be generous with the assumptions and creative with the numbers while those opposed to it tend to do the opposite. Fear and uncertainty are common in this process since no one wants to be associated with a flawed business case that wastes resources and money.
Catalyst Response
Catalyst understands the dynamics associated with this process and will assist you in basing your case on facts and realistic assumptions. Some common areas facing the financial industry today requiring this service are:
- Staffing
- Operational/Workflow
- Technology
- In-house vs. Outsource
- Consolidation
Catalyst's only interest is to ensure our clients make informed, prudent decisions that will achieve the expected results. Catalyst will provide you with a detailed recommendation, including "best-case/worst-case" scenarios as well as a list of potential risks to the business case.
Benefits
Catalyst can assist you with building a business case from scratch, complementing a current initiative underway, or validating a completed case. Catalyst's value comes from the ability to offer unbiased, honest analysis based on "real-world" experience.
Revenue Enhancement
"Trimming costs are not enough…we have to find creative ways to increase our revenue from our current customers as well as winning new ones"
The Challenge
Financial institutions are faced with a constantly evolving market. Strategies developed as recently as 2 years ago are becoming obsolete and institutions are having difficulty keeping up. A new product or competitor is emerging everyday that threatens your business model and places your income strategy at risk.
Catalyst Response
Catalyst understands the need to not only be reactive, but proactive in this extremely competitive and dynamic marketplace. Our consultants will review your current revenue streams, including product offerings, fees and sales strategy to identify potential revenue enhancement opportunities.
Catalyst will provide you with recommendations for those areas with the greatest revenue potential as well as the greatest return on investment. This can be tailored to the consumer, small business and/or corporate market.
Benefits
Catalyst's value comes from the ability to offer advice based on current information and marketplace knowledge. We will assist you in identifying opportunities and strategies to increase your revenue from your current customer base as well as win incremental business from your competitors.
Risk Assessment
Operational Information Workflow Audit and Security Remediation
Purpose
- Increased pressure on financial institutions has created an environment where they must investigate and fix any areas of the operation where customer data is vulnerable
- Ensure that proper data security and protection is in place across the enterprise
- Document the process and remediation of issues for future review by the board, the banks audit firm, and regulators
Process and Deliverables Catalyst Can Provide
- Identify where confidential and restricted data is currently located (inside and outside the bank, with 3rd party vendors, laptops, printed materials, etc.)
- Document the workflow process in all areas of the bank
- Document how data is being used and what QA controls are in place for data stores, reports, screens containing confidential and restricted data, laptops, 3rd parties, internet banking, printed material, etc.
- How and where to introduce control points into data flows
- Temporary or permanent solutions to critical issues identified
Implement Permanent Solutions
- List of items requiring remediation and recommends to correct
- Permanent remediation of all Security Protection issues identified
- Identify and reduce redundancy of customer data within operational data stores
- Plan to reduce data redundancy within 3rd party connected channels and online applications
- Document training requirements – Conduct / coordinate re-training where required
- Ensure development of new policies and procedures
- Document the entire audit and remediation process for review by auditors, examiners / regulators
Benefits
Catalyst provides a process that audits and ensures the secure use of highly sensitive data, significantly reducing the risk of potential liability. Catalyst delivers documentation that is appropriate and recommended for submittal to the Board of Directors, auditors, and regulators, and insurers.
De novo Bank Services
As the U.S. banking industry continues to consolidate de novo banks have enjoyed sustained and profitable growth, preserving competition and providing credit in local markets. However, institutions in the process of becoming newly chartered banks struggle like other new business ventures, navigating the complexities of obtaining capital, application and compliance, staffing & technology infrastructure.
Catalyst understands the over-whelming responsibility of establishing a new bank – long task lists and minimal staff to make it happen. Imagine professionals on your team - experienced in opening a bank quickly and efficiently.
We bring you immediate benefits:
- Systems Review, Selection, Contract Negotiation
- Project Planning and Management
- Stand-in Responsibility for Unfilled Positions
- Alignment of Operational Requirements and Operational Workflows
- Vendor Coordination and Management
In critical areas:
- Key Personnel Review and Selection
- Operational Policies and Procedures
- Establishing System Parameters
- Product Development
- e-Banking Channels
- Testing – Systems and Delivery Channels
We bring you a proven Project Methodology tailored to your requirements; an organized approach, greater control, cost containment, and the means to keep vendors and bank personnel on task. Catalyst will assist in a number of areas as you organize, from hiring staff through setup and launch of your institution.
Vendor Selection
- Vendor Comparative Analysis
- Configuration Requirements
- Projected Cost of Ownership
Contract Negotiation
- Pricing and Terms
- Performance Measurement
- Issues – Management and Resolution
Recommendation Report
- Summary for Board of Directors
- Comparison Metrics / Charts
Project Plan Development
- Comprehensive – All tasks identified
- Covers vendor responsibilities / timing
Requirements Review / Assistance
- Personnel Review / Selection
- Site Preparation / Workflow Design
- Hardware & Software Parameters
- Test Plans / Vendor Coordination
Catalyst Delivers Benefits
- Experienced “hands on” Resources
- Minimizes Management Distraction
- Documentation of the Decision Process
- Profitable Pricing Negotiation
- Negotiated Terms and Conditions
- Satisfies Due Diligence Requirements
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