BASH GOVENDER | Managing Principal, Capco
AXEL MONTEIRO | Principal Consultant, Capco

Finance departments of the major financial services organizations (FSOs) have undergone dramatic changes since the great crash of 2008. They have had to cut costs severely while still supporting an expanding portfolio of new regulatory and business requirements. As a result, they have been unable to fully benefit from the innovation boom of the past decade. In order to get a better understanding of the perspectives of the Chief Financial Officers (CFOs) of major FSOs on the current and potential operating models of the finance department, we interviewed a number of CFOs and finance executives across Europe and North America. We found that while the past decade has been tough on these departments, the future can be bright should they be able to institute the necessary digital innovations that the other departments and organizations have benefitted from.