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Banking Behind the Scenes
Most banks consider the information technology that supports their back-office operations as a single, separate function, requiring its own cost-cutting program. But McKinsey research shows that best-practice banks view IT and back-office operations as an integrated value chain. They optimize its performance by treating the back office as a portfolio of individual factory operations and source each one from the range of options available—outsourcing or internal co-sourcing, for example—according to each operation's particular characteristics.
The take-away: A map of sourcing options can help banks adopt a portfolio approach to optimize their back-office operations and, in some cases, to innovate in ways that reshape the industry.
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