FAQs

Q1. How can we be sure Finalta is analysing the key performance drivers and indicators?

Metrics are selected based on ongoing consultation with Europe's top performing banks. Statistical models are used to select practices.

• Each year, Finalta undertakes a consultation process with top performing banks to identify key metrics and practices
• During this process, we observe which metrics they use to measure performance. Information requirements are a synthesis of best practice in KPIs
• To select the qualitative aspects to cover, Finalta undertakes correlation analysis to identify which drivers have the greatest impact on results

Q2. How can you compare different retail banks?

Finalta recognises that there is variation in the model banks apply to their mass market, small business and affluent segments.

To enable quantitative comparisons, Finalta uses standardised definitions to ensure data is comparable. In addition, multiple KPIs are analysed on a per customer, per advisor/ relationship manager or per branch basis, to ensure the ratio is relevant for all banks regardless of the model applied.

Q3. How can I ensure my data is confidential?

All client data will remain confidential. No company-specific data will be shared with McKinsey & Company without the client’s express consent.

Finalta conducts all research under strict non-disclosure. This is critical to Finalta's business model and there are strict rules regarding how we gather, analyse and present and store client data. Finalta is also happy to sign corporate NDAs if required.

While the list of study participants will be shared, each bank is only able to see its position relative to the peer group. At no stage is the identity of any other bank disclosed and proven analytical methods are used to protect identity.

Q4. How do you ensure like for like analysis, especially when comparing across countries?

The use of a Definitions Manual and a rigorous verification process ensures data is compared on a like with like basis.

Q5. How will our relationship with Finalta change now that it is a subsidiary of McKinsey & Company?

Though Finalta is now a fully owned subsidiary of McKinsey & Company, it will continue to be managed as a separate entity by the existing management team.

Finalta’s cooperation with McKinsey will allow it to provide improved benchmarks and will increase client access to expertise on global best practices. All other elements of clients’ existing relationships with Finalta will remain unchanged.

Finalta will retain its high standards for data quality and confidentiality. No company-specific data will be shared with McKinsey & Company without the client’s express consent.