Cutting Costs? Not So Fast!

ON BALANCE

How do you cut costs? Take away the services that aren’t being used. That was easy, right?

Not exactly. Everyone agrees on the idea. "[Financial institutions] need to fully understand what each business needs, in terms of data sets, sources required, etc. Then it is possible re-engineer the current services and significantly reduce costs by removing those not required," says Michelle Morris of London-based Buttonwood Tree Group.

The question, however, is in the execution. It’s always been a m

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