As financial service companies face up to far-reaching change, Litvin Muir is providing the incisive input that boosts the performance of people and processes and supports smart innovation.

Managing change and maximizing returns

More than a decade on from the global financial crisis, the industry is on firmer ground, but macroeconomic uncertainty prevails as technological change sweeps across the sector.

Closer scrutiny by regulators is increasing costs, tech-driven competitors are disrupting markets, and cyber risks are ever-present and rising.

We work with financial service providers to boost their return on human capital, optimize costs and efficiency, and offset the costs of investment in innovation.

We ensure that you secure your position and anticipate future challenges.

A holistic approach

 Our teams take a holistic approach.

Drawing on a range of specialist skills – in procurement, HR, digitization, and tax efficiency – our consultants also have practical experience of resolving the problems financial services companies face.

This skill set is the key to a comprehensive diagnosis of the underlying health of an organization’s processes and operations, and to understanding how weaknesses in one area can impact on each part of the business.

With consultants advising hundreds of clients in countries across the globe, we have a proven track record of guiding transformative change and achieving successful outcomes.

We deal in results, not reports. Our consultants implement as well as design and advise, and we share risks and rewards with our clients.

Anticipating threats and opportunities

Following their clear diagnosis, our specialists tailor solutions to your organization’s exact needs. These vary tremendously across the financial sector, but there are common challenges for which we have developed and proven solutions. Here are some examples:

Empowering people

Even as jobs are replaced through AI and automation, staff need to develop new technical and soft skills.

Employees have to be fully engaged and committed to business priorities. Drawing on the extensive HR experience and knowledge of our consultants, our teams ensure that people management processes, rewards and costs, and training are each aligned with those goals.

Litvin Muir provides software support, digital tools and tailored training to hundreds of employers.

We invest in your human capital, enhancing commitment, quality of life at work, change management, and employee health and well-being. We are transforming HR management with our focus on ROI, digitization, and compliance.

Driving innovation

From fintech to the blockchain, and AI to big data, financial service providers must innovate to keep pace with tech-savvy challengers. Litvin Muir not only re-engineers processes, we also help companies manage their innovation strategies and sustain their investment in innovation.

Each year our consultants secure millions of dollars in tax credits for spending on research and development. They compile and manage claims in support of thousands of projects annually, in multiple tax jurisdictions.

In the finance sector, typical IT and software developments gaining government support include date warehousing, compliance monitoring tools, trading platforms and automated decision-making in areas such as securities, insurance and banking.

Streamlining tax costs

Tax is a burden on any business. The complexity posed by multiple taxes – from real estate to VAT/GST, environmental and energy to local and sector taxes – makes it harder to manage that burden.

However, as with other costs in operations or procurement, increasing tax efficiency can unlock savings and drive competitive advantage.

Our tax specialists work within multidisciplinary teams to analyze your position and identify opportunities to reduce liabilities, recover tax and maximize credits. Litvin Muir services range from the recovery of VAT from tax authorities in more than 50 countries and managing compliance to optimizing tariffs on imported goods.

Digitization

The wealth of data available to financial companies is huge and growing. Companies are merging departmental sources in data lakes, utilizing artificial intelligence and other smart technologies, personalizing customer service and adopting predictive marketing.

We support client initiatives with data analytics, develop predictive and digital tools, benchmark in-house data science teams with our data lab management, and help companies select the right tech partners.

Operations performance

Litvin Muir provides expert support across all facets of operations performance.

Operating on extremely thin margins, financial service providers must strive to increase efficiency and drive out waste across all their activities.

We design and implement change programs based on lean management and processes, outsourcing, spend analytics and process automation.

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