Transforming financial services

Financial Services Consulting

Dr. Holger Kern

Dr. Holger Kern
Financial Services Consulting Leader at PwC Germany

Your advisor for financial services

New customer demands, more transparency and innovative technologies – tomorrow's financial services are undergoing a transformation. We can support you in this digital transformation and focus on your individual needs.

“Only with a holistic transformation, starting with modern IT infrastructures and along with sustainable business strategies, can the leap into the digital age be successful.”

Dr. Holger Kern,Financial Services Consulting Leader at PwC Germany
Extensive expertise

in digital transformation.

Over 370

consultants with a focus on financial services in Germany.

More than 500

projects annually – across all financial sectors.

Strong alliances

and partnerships with technology companies.

We shape your transformation

In a world of rapid digital and regulatory change, the task of building up and retaining trust and resilience are becoming increasingly important for financial services providers. Especially in times of crisis, speed of response, innovation and the use of new technologies are essential.

In Financial Services Consulting, we support you in implementing digital business models and establishing customer-centered offerings on the market. Together, we strengthen your position in the growing industry and prepare you for a challenging market and economic environment.

Our multidisciplinary teams provide comprehensive advice to banks, insurance companies, asset managers, leasing companies and new financial services providers such as BigTechs and FinTechs worldwide on all relevant topics, such as regulation, risk management, innovative technologies, digital ecosystems, big data & analytics and sustainable finance.

We know your current challenges. Our tailored solutions enable you to make future-oriented decisions, drive your digitalization holistically in a more customer-centric way.


CIO Advisory

The digital transformation of any financial service provider requires innovative power and assertiveness, strategic and practical willpower as well as in-depth IT expertise.

We support Chief Information Officers (CIOs) in defining and implementing their IT strategies.

More than 170 of our consultants in CIO Advisory in Germany are experienced in the digital transformation of business models, building digital architecture, achieving faster internal adaptability as well as the outsourcing of processes and business units.

Our focus areas:

  • Optimization of the target operating model of the IT function
  • Technology program delivery
  • IT service management
  • Agile IT and enterprise agility
  • IT cost and value management
  • Cloud transformation and digital workplaces

Compliance of the future

Modern compliance functions contribute towards improved trust in industry players among investors, customers and financial markets. Innovative solutions allow for the effective and efficient management of compliance risks and regulatory requirements.

The compliance function of tomorrow will increasingly rely on self-service processes or the complete outsourcing of compliance-as-a-service (CaaS) arrangements. Modular and flexible solutions can be easily and quickly integrated into existing infrastructures.

Five core areas for digital applications in compliance functions:

  • Legal standard monitoring
  • Know your customer (KYC)
  • Risk analysis
  • Compliance workflows
  • Monitoring & screening

Our experts actively support you throughout the entire, often complex transformation processes. We ensure that all tactical and strategic priorities are implemented on time.

Customer centricity

Positive customer experiences foster trust and are decisive for successful relationships with customers over the long term. Customer-centric models and CRM solutions help you optimize the customer journey so that your focus on customers is strengthened even further.

Our multidisciplinary team of experts from the fields of strategy, sales, operational business and technology supports you in becoming more innovative and customer oriented. As part of a holistic strategy, the areas of customer management, digitalization and data management are integrated with each other.

Our areas of focus:

  • CRM software selection, CRM implementation as well as the assessment of existing systems
  • Customer experience (CX)
  • Redesigning the customer interface

Data intelligence

Our data intelligence initiative focuses on the intelligent use of data for improving business decisions. The objective here is to use state-of-the-art technologies in order to improve the quality of data-driven decisions, to accelerate and digitalize decision-making processes and to facilitate the use of new technologies within a secure environment.

In the area of data intelligence, we pursue a holistic approach that gives equal consideration to all the relevant aspects. The basis for doing so is provided by the collection and provision of high-quality data that can then be used for algorithms and models, e.g. through the use of artificial intelligence.

Further aspects include using results to provide key figures that are suited to specific audiences and modern visualization processes as well as assisting decision-makers in effectively and efficiently managing financial service providers.

Current areas of focus:

  • Digital risk reporting: from analog reporting to a dynamic risk dashboard
  • Responsible AI validation engine: assessing and optimizing AI services
  • Responsible AI validation engine: assessing and optimizing AI services

Finance transformation

Conventional finance functions are facing fundamental changes due to rising regulatory, economic and internal reporting requirements. Regulations, low interest rates and the rapid pace of digitalization mean that IT has to be agile so that your business model can be oriented towards the future and new customer preferences can be fulfilled.

PwC provides financial service providers with integrated solutions and a holistic strategic approach towards the transformation of all processes and technologies throughout their entire organization.

Cornerstone of a modern finance function:

  • Development of a holistic integrated digital reporting system
  • Introduction of modern reporting solutions that move away from retrospective and towards prospective reporting as well as real-time data analyses that are available at all times as the basis for strategic decisions
  • Changes in controlling and modernization of planning and budgeting based on key performance indicators (KPIs)

With the standard operational software SAP S/4HANA in the area of enterprise resource planning (ERP), additional gains in efficiency can be achieved by harmonizing processes and structures.

Find out more

Future of risk

Future of risk provides answers, solutions and support for the transformation agendas of financial institutions. We provide services in the following three key areas:

  • Risk strategy and operating model, e.g. benchmarking for the risk function
  • Enterprise risk management, e.g. structuring and integrating non-financial or thematic risks
  • Regulatory “hot topics”, e.g. operational resilience or crypto-assets

Process innovation

In times when the numbers of innovative competitors and established digital platforms are increasing and cost pressures are rising, banks, insurers and other financial service institutions face the challenge of continuously developing their value chains. In the Value Chain Innovation cluster, we cover a full spectrum ranging from the development of specific solutions for increasing efficiency and digitalization through to structural transformation so that, together with you, we can implement the business models of the future.

In strategic terms, we focus on the following topic areas:

  • Digital solutions as a service
  • Digital ecosystems
  • Digitally assisted managed services

Sustainable finance

The EU Sustainable Finance Action Plan has put Sustainable Finance at the top of the financial industry's agenda. Demand for ESG (environmental/social/governance) investments is rising, and legislators and regulators are demanding compliance with new rules on corporate governance and for investments for accelerating the sustainable transformation of the real economy.

Whether business management or risk management, compliance or customer business is concerned, in almost all areas, financial service providers face challenges in fulfilling ESG criteria and reorienting themselves in a sustainable manner. Sustainable finance presents not only an immense opportunity for financial service providers to position themselves competitively for the long term, the transparency it necessitates also bolsters trust among customers, stakeholders and investors.

Our services:

  • Assistance with positioning
  • Impact analysis
  • Roadmap and recommendations
  • Implementation guidelines as well as resource and expenditure estimation
  • Assuming and implementing project management tasks

With the help of our experts, you can take all aspects of sustainable finance within your entire organization into consideration and position yourself to be future-oriented.

As part of a group-wide initiative, we hold regular webcasts providing information on current developments in the area of sustainable finance and share ideas with our customers.

PwC Planet FSC Blog

Our blog will give you clear and practical information about current developments relating to the transformation of financial services.

“The financial services of tomorrow are facing profound change: New risks and regulatory requirements, changing customer preferences, and growing volumes of data demand a holistic strategic approach. Those who want to strengthen the trust of their customers in the long term should address these complex issues promptly.”

Holger Kern,Financial Services Consulting Leader at PwC Germany
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Contact us

Dr. Holger Kern

Dr. Holger Kern

Head of Financial Services Consulting, PwC Germany

Tel: +49 171 3314529