21 Apr Member Spotlight: IG&H Consulting and Interim
IG&H Consulting & Interim is a leading business consultancy firm in the Netherlands with nearly 30 years of experience in successfully executing strategic programs and delivering strategic advice. At its core, IG&H is driven by a team of sector insiders who all share a common goal: to ‘Make strategy work!‘ In its work with established and upcoming financial service providers, IG&H has come face to face with the growing, untapped potential of fintech innovations.
As new technology is being developed and deployed at increasing speeds, IG&H Consulting & Interim sees the financial services industry struggling to keep up. Both new technologies and new (start-up) incumbents require an adequate and fast response from established players.
On the other hand, numerous start-ups offering ground-breaking technologies are unable to realise the market breakthrough they had hoped for. Many new entrants struggle to make the move toward large scale adoption due to a lack of distribution power to market their product to the masses; or, alternatively, new entrants end up getting lost in the complexity and seemingly impossible-to-meet requirements needed to cooperate with corporates. Overall, there is a huge demand and supply for working innovations in financial services. Mainly because many established financial service providers see innovation as the silver bullet needed to escape the ‘commodity trap’ and eroding margins that result from a maturing and increasingly transparent industry. Nonetheless, due to a major gap in knowledge, culture, and working cultures between start-ups and the financial services industry, this potential remains largely untapped.
Bridging this gap requires a clear innovative vision and strategy for implementation that stipulate how innovations are being integrated in everyday business. As always, success is not only in formulating the winning vision and strategy but also, and perhaps even more so, in executing these plans and adapting when needed.
IG&H serves key players in financial services, retail and health
In 1988, Jan van Hasenbroek and Kees van der Geer set out to devise a new approach to consultancy. Working from their student room in Rotterdam, they laid the foundations for IG&H Consulting & Interim. Now, nearly 30 years onwards, IG&H is among the top business consultancy firms in the Netherlands, with head offices in Utrecht, and a team of over 120 professional consultants and interim managers led by nine partners.
IG&H offers strategic consulting services within three business lines: financial services, healthcare, and retail. Around 50 IG&H consultants work within the financial services division, serving clients in three sectors: banking, insurance, and pensions. Most clients are based in the Netherlands, but the solutions and developments are global. IG&H serves a mostly local market of financial industry clients in the areas of mortgages, savings, investments, insurance, and pensions. IG&H has worked with all the major players in the Netherlands, including ABN AMRO, Achmea, Aegon, APG, NN, PGGM, Rabobank, and many more. By and large, IG&H serves, or has been serving, over 80% of the key players in their core markets.
In a recent successful project, IG&H consultants played an instrumental role in helping a Dutch provider of insurance, pension, and banking services to introduce a new mortgage proposition, and to launch a new web-based platform that allows consumers to easily explore and select their own mortgage online. IG&H worked closely with this client on implementation, and was central in the selection of partners for the online module.
Another interesting project involving most of the major players on the Dutch market is Handig! – an initiative by IG&H to make use of digital data for the processing of mortgage applications. Using data provided by the Dutch UWV, a government body for employee insurances, Handig! collects and verifies the background information of mortgage applicants, thus allowing for much speedier application processing.
Connecting IG&H clients with the Holland FinTech community
IG&H only recently became a member of the Holland FinTech network and is, according to Joppe Smit, senior manager in the banking division, “looking forward to developing IG&H’s membership over the coming year.”
Joppe: “IG&H consultants are sector insiders, which means we strive to know everything about the sectors we work in. We are familiar with all the major players in the sectors we work in, and we believe it is important to connect these big companies with the solutions coming from the fintech world. Likewise, we want to give fintech firms the chance to introduce their solutions and technologies to bigger companies that will be able to provide them with better distribution power and access to consumers.”
“At the moment, there is still a large gap between fintech solutions and the corporate reality of our clients and the functionality they demand from their partners, but we see huge potential to close this gap and start making fintech applications work for our clients. We would love to get in touch with fintech firms and corporates to discuss how to make innovations work in day-to-day business.”