Banks & Insurance



The financial industry has evolved significantly in recent years. For retail and private banks, as well as for insurance companies, these evolutions are marked by profound transformations that are the result of an increasingly demanding regulatory framework, structuring climatic stress tests, increased competition, and global health and economic crises, all of which herald new expectations on the part of consumers and employees.

In this context of uncertainties and geopolitical events, financial services must be prepared to meet the following challenges:

  • Make deep changes in development of business and distribution models
  • Integrate the customer at the heart of new business strategies and practices – “phygitalization”, “selfcare” while meeting customers and employees’ new expectations
  • Align with regulations (local and international) and conduct regulatory monitoring to maintain competitive advantage


In order to meet the new needs and requirements of this sector, Finegan supports all market players – banking (private, retail, specialized financial services) and insurance – in this transition, through the design, preparation and implementation of successful strategies.

The group supports its clients in their four major challenges: Market, Customer, Products and Services, and Regulations.

I/ Market

  • Define tomorrow’s bank business model (advisory, banking, brokerage) whilst taking into account new opportunities through digital technology.
  • Develop cross-selling strategies in order to limit the contraction of margins.
  • Implement a differentiation strategy in a highly competitive market
  • Redefine the role, skills and global compensation scheme of employees and bankers.

II/ Clients

  • Renew the business by deploying strategies to win over new entrants.
  • Deploying a digital strategy to adapt to changes in customer behavior while maintaining a close relationship with bankers (phygital customer path)
  • Deploying strategies to support different customer segments (young active customers, senior, premium, professionals, private or public companies, etc.)
  • Maintain or recreate a relationship of trust with your customers in a context of regulatory inflation and increased competition
réunion d'équipe

III/ Products & services

  • Develop new billing models that integrate regulatory and business changes
  • Reduce price sensitivity and preserve margins by improving the perceived quality of services provided to customers.
  • Make the most of the different customer segments through the development of robot-advisors and the digitization of processes.
  • Designing new financial savings products integrating new customer preferences

IV/ Regulation

  • Supporting regulatory changes from a business, tools, IT and change management point of view for both employees and clients
  • Relaunch a sales dynamic after several years marked by regulatory changes
  • Giving meaning to regulations and transforming regulatory changes into business opportunities.
  • Transparency on fees: take responsibility and give meaning to the pricing of services to the client, understand how to set one’s prices like a notary or a lawyer

Groupe Finegan

Key figures

New disruptive players are positioning themselves on the most profitable elements of the value chain : payments (about 25% of retail banking NBI) certain forms of credit (about 20% of revenues) and savings (about 50% of NBI).

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74% of Luxembourg consumers do not want to let a computer program make investment decisions for them. Nevertheless, 35% say they are willing to use it if the program only makes suggestions.

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57% of individual investors are influenced by CSR when choosing insurance

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Despite the 30% increase in net income compared to 2020, almost 20% of banks are not profitable in Luxembourg (Source: ABBL, 2022)