Page 31 - SAMENA Trends - November-December 2022

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Arthur D Little Launches Dedicated Team to
Accelerate Transformation of Japanese Financial

Institutions

Arthur D Little (ADL), a strategy consulting firm, has established stand-alone basis in the own bank
a team dedicated to accelerating the transformation of financial Yoshiro Makita, a partner in the firm's Financial Services Practice
institutions in Japan. The team will work closely with the firm's global in Japan, offers the following observations in response to this
finance practice to help clients of all sizes and business models in discussion. “The basis of competition in the financial services
the financial services industry, including domestic and international industry continues to change with the advancement and
banks, securities firms, insurance companies, and new entrants, penetration of digital technology. However, the emergence of
transform themselves in a rapidly changing world. In "Disruption non-financial businesses with cutting-edge digital technology is
- Can banks strike back?", Global Finance Practice discusses the creating new competitive dynamics for these strengths. As this
challenges facing traditional banks as new competitors emerge paper discusses, there is a need to redefine their strengths in terms
and the banking models that need to change and survive. The rise of creating new value for customers through collaboration with the
of digital natives and the entry of other industries into the banking competitive advantages of other companies and industries”. ADL,
industry are reshaping the landscape. However, the financial together with its global network of experts, is committed to making
soundness and name recognition of existing banks cannot be built an unparalleled difference for clients in financial institutions and
overnight. To ensure that this advantage is not squandered, we related industries by combining a full range of solutions to meet
believe it is important to embark on fundamental reforms without the challenges and growth opportunities presented by changes in
fear of change, and we have identified six priorities for action. technology, regulation, and client needs.
1. Flexible setting of "battle plans" with a medium-term vision of the
future (3-5 years) and formation of an ecosystem with different
industries, including FinTech companies, to realize these plans.
2. One-stop customer understanding that maximizes data
analytics, moving away from traditional perspectives such as
attributes and purchase history
3. Promote organizational innovation, including incubation of start-
ups, to fully benefit from accelerating improvements in finance-
related technology
4. Align leaders who can find direction from an incomplete set of
unrelated information, and build a diverse management team
that can help drive change
5. Fostering a multifaceted organizational culture that promotes
future change across the company without being limited by past
successes
6. Developing strategic and consistent partnerships to meet diverse
customer needs, without being fixated on achieving them on a

AT&T, Amarillo Break Ground on New Fiber

Network

AT&T and BlackRock Alternatives (BlackRock), through a fund Stankey, CEO of AT&T. “With this joint venture, more customers and
managed by its Diversified Infrastructure business, have signed communities outside of our traditional service areas will receive
a definitive agreement to form a joint venture that will operate the social and economic benefits of the world’s most durable and
a commercial fiber platform. The newly formed joint venture — capable technology to access all the internet has to offer.” “We
Gigapower, LLC — expects to provide a best-in-class fiber network are excited to form the Gigapower joint venture in partnership
to internet service providers (ISPs) and other businesses across with AT&T, which will be serving as not only a joint owner but
the United States. Gigapower will serve customers outside of also the first wholesale tenant. We believe Gigapower’s fiber
AT&T’s traditional 21-state wireline service footprint with fiber infrastructure designed as a commercial open access platform
access technologies in innovative and efficient ways. And AT&T will more efficiently connect communities across the United
will leverage its nationwide wireless sales capabilities to sell fiber States with critical broadband services,” said Mark Florian, Global
to customers in Gigapower territories. “Now more than ever, people Head of Diversified Infrastructure, BlackRock. “We look forward to
are recognizing that connecting changes everything” said John partnering with Gigapower’s highly experienced management team
31 NOVEMBER- DECEMBER 2022