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Cutting costs in the financial industry

Boost efficiency, reduce spending

Banks face a central challenge: how can costs be cut sustainably without compromising the quality of services? In an environment of rising regulatory requirements, growing competitive pressure and digital disruption, the systematic optimization of business processes is becoming ever more important. But which levers are most effective? Which measures offer the greatest savings potential? And how do you implement them without disrupting ongoing operations? Through targeted digitalization and automation initiatives, considerable efficiency gains can be realized. Here are the central fields of action in cost management that banks should use:

Central fields of action in cost management

1. Automating back-office functions: an efficiency boost through RPA

Routine tasks like data processing, document checking or payment handling tie up valuable resources. The solution: Robotic Process Automation (RPA). By using software robots, processes can be accelerated, errors reduced and personnel costs lowered.

Savings potential

30–50% reduction in operating costs

Real-world example

A British bank cut the processing time for loan applications by 60% through RPA and saved 25 million GBP a year.

2. Artificial intelligence in customer service: faster, more efficient, more cost-effective

Banks increasingly rely on AI-supported chatbots and virtual assistants to handle customer inquiries efficiently and reduce service costs.

Savings potential

20–30% reduction in service costs

Additional benefit

Minimizing the error rate and increasing customer satisfaction through automated answers to common inquiries.

3. IT consolidation: cutting costs through cloud technologies

Modernizing the IT infrastructure offers considerable savings potential. Cloud migration and virtualization enable flexible scaling of resources and lower operating costs in the long run.

Savings potential

20–40% reduction in IT costs

Real-world example

By switching to cloud technologies, Deutsche Bank saved one billion euros within five years.

4. Efficiency gains in branch operations: digitalization as the key

Advancing digitalization is fundamentally changing branch operations. Modern advisory concepts and digital interaction tools make physical locations more efficient and reduce fixed costs.

Savings potential

15–25% cost reduction through optimized branch structures

Real-world example

Postbank is reducing its branch network from 550 to 320 locations by mid-2026 to cut costs while expanding digital customer advice.

5. Optimizing compliance processes: RegTech as a cost brake

Rising regulatory requirements significantly increase compliance costs for banks. RegTech solutions enable more efficient compliance through automation and reduce spending.

Savings potential

10–20% reduction in compliance costs

Real-world example

A Swiss bank automated its AML (anti-money-laundering) processes and thereby saved 10 million CHF a year.

Tapping further savings potential

Alongside the core areas mentioned, there are numerous other levers for sustainable cost reduction:

• IT maintenance & support: Consolidating systems and using open-source software lowers license and maintenance costs.
• Human resources: Centralizing IT teams and focusing on value-adding work increases productivity.
• Energy costs & space requirements: Virtualization and green-IT measures significantly reduce power consumption.

Real-world example

A mid-sized company with 25 dedicated servers cut its energy costs by 165,000 euros a year through virtualization.

grandega as your partner for sustainable cost reduction

Successfully delivering cost-optimization projects requires sound industry expertise and a tailored strategy. grandega supports banks in realizing their digitalization initiatives in a targeted way and achieving lasting savings. With us at your side, you benefit from:

• Structured savings programs to identify and realize optimization potential
• Tailored solutions for automating and digitalizing core processes
• Successful implementation of RPA, AI, cloud technologies and RegTech
• Change-management support to anchor the changes in your organization for the long term

Act now! Let's reach your digital transformation goals together.

Contact us and start your next efficiency project with grandega.