The change in customer behaviour and expectations, as well as new technology, that is driving banks to develop and deliver products and services in new ways presents an opportunity for cost efficiency, according to Kjerstin Braathen. As chief financial officer (CFO) of Norway-based DNB Group, she is acutely aware that incumbent institutions must address the cost-to-serve issue to remain competitive with new market entrants.
Being a strategic CFO is critical in a world where a bank’s resources are torn between regulatory compliance and innovating at speed. “How efficiently we use our resources, whether that is investing capital in the right ventures or deploying staff in the right areas, will determine our ability to meet customer needs while delivering on profitability and shareholders’ expectations,” says Ms Braathen.
