A Japanese bank undertook business development planning for the US, European and Asian (ex-Japan) markets in the long term (3-6 years).
As a pre-study of this initiative, the bank was looking for support from GreySpark to provide market research on five business domains: OTC Derivatives (middle and back office); Collateral Management; Corporate Actions Processing; Cashflow Management; and Client on-boarding.
In particular, GreySpark assisted with:
- Market sizing: Assessment of financial results from vendors and estimation of Tier 1 to 3 banks’ IT budgets.
- Vendor profiling: Functional coverage.
- Market Trends: Impact of new products and services; Regulatory changes; and outsourcing versus in-house.
GreySpark deployed a senior project team with domain knowledge across Middle and Back office investment banking technology and with experience undertaking market intelligence research.
The research was based on:
- Desk-based research;
- Interviews with CIO/CTO/Head of IT/Head of Operations in Tiers 1-3 Investment Banks;
- Consolidation and analysis of interview feedbacks into a bespoke report; and
- Vendor analysis gathered from interviews with the vendor and their clients.
GreySpark delivered the project in two consecutive phases:
Five initial market sizing models:
- OTC Derivatives Operations
- Collateral Management
- Corporate Action Processing
- Cashflow Management
- Client Onboarding
Five detailed sectoral reports (one per in-scope segment) covering:
- Refined market sizing model
- Competitive landscape (positioning, strength and weaknesses, market share)
- Underlying market trends
- GreySpark helped the client to build long-term strategic plans aligned with their priorities.
- GreySpark helped the client to understand the ins and outs as well as the key requirement related to entering the technology software market in Europe and the US.
- The client was able to leverage GreySpark’s work during C-level executives meetings to present long-term views on the strategy and the key development areas that the bank should focus on over the next few years.