The Financial Sector
The financials sector includes firms that provide financial services to commercial and retail customers. For instance:
- Investment funds
- Alternative Finance providers
- Financial Advisors
- Real estate
What our experience tells us
High street banks and well-known insurers (like Aviva) have been outsourcing their payroll, credit control, bookkeeping, financial accounting, controlling / management accounting and reporting for years. Our clients in this sector tend to be forward-thinking and open to solutions that may improve a process or reduce costs.
Frequent regulatory change has forced financial businesses to become as efficient as possible to safeguard against further change that could impact performance. Furthermore, recent initiatives such as PSD2 (the EU's open banking Payment Services Directive) is likely to encourage more competition in the money management space.
Our recommendation for financial clients
Today, financial SMEs may leverage outsourced services as well — with accounting providers such as ours. We believe that a blend of highly experienced, qualified, UK-based Chartered Accountants and our team based in India can provide a service that is both scalable and flexible. Our in-house development team can also work with and build integrated accounting solutions for the technologies you need to thrive in this industry.