In the past decade, business consulting firms have become critical partners to banks and financial institutions in their pursuit to leverage newer technologies — AI, RPA, blockchain, cloud, RegTech, etc. — to drive the agenda of efficiencies, compliance, customer centricity, and digital transformation.

The Global Consulting Firms Market achieved USD 181.3 billion in 2024 and is projected to achieve USD 271.8 billion by 2032, growing at a +4.6% CAGR. This trend toward the outside service consultancy market is mirrored by an accelerating growth in financial consulting services, with the global financial services consulting market booming by 2024 and projected to grow even more expeditiously through 2032.

https://www.businessresearchinsights.com/market-reports/financial-services-consulting-market-117688

Top consulting firms such as Deloitte, Accenture, and McKinsey are using AI‑powered analytics that automate 80% of repetitive tasks — which is expected to be worth $1trillion savings to the industry by 2025 — and RPA solutions that deliver 30–200% Return on Investment (ROI) in the first year. The banking sector blockchain market will widen from USD 31.3 billion in 2024 to USD 268 billion by 2030 across sectors, and RegTech compliance automation will scale from USD 17 billion in 2023 to over USD 81 billion by 2030 at 23.1% CAGR.

Top consulting companies provide transformative solutions like cloud migration, open banking, DeFi, and cybersecurity innovations, making the giants of business consulting firms strategic enablers of growth, resilience, and ROI.

Introduction: The Digital Imperative for Consulting Firms

In the ultra-aggressive world of 2025, banks find themselves under constant siege from digital upstarts, a blur of difficult regulations, and high-maintenance customers. The traditional advisory model is no longer enough to drive value; institutions need advisory firms that combine deep domain and technology solutions and business consulting firms. No longer do consulting firms provide just strategic roadmaps; today, firms design, deploy, and run AI chatbots, RPA bots, blockchain networks, and cloud architectures for corporate customers on an end‑to‑end basis. 

This article explores the disruptive tech solutions business consulting firms introduce to banking and finance, analyzes key market dynamics, and details how independent financial advisors and investment advisory specialists integrate with business consulting firm services to boost ROI and customer satisfaction.

1.Trends & Market Drivers Growth Trajectory 

The global consulting firms market was USD181.3 billion in 2024 and is expected to grow to USD271.8 billion by 2032 at a 4.6% CAGR with a major factor being the demand for digital transformation. Among them, the financial consulting services segment—including risk consulting, regulatory consulting, and technology implementation—saw a sizeable surge in 2024, with the global financial services consulting services market expected to post an impressive CAGR through 2032.

 At the same time, business advisory services offered by leading consulting firms across the globe represent around 60% of overall consulting revenues as banks focus on compliance, digital channels, and data analytics. The business consulting firm services space is evolving too: small independent financial advisor businesses compete with the top consulting firms on the planet, while the best consulting companies near me focus on regional regulatory nuances.

https://www.businessresearchinsights.com/market-reports/financial-services-consulting-market-117688

Key metrics:

• Global consulting market: USD 181.3 billion (2024) → USD 271.8 billion (2032); 4.6% CAGR.

• High growth in 2024 for financial services consulting; will grow faster than total consulting through 2032.

• Deloitte (USD 67.2 billion), PwC (USD61.8 billion), EY (USD 56.4 billion), KPMG (USD 38.4 billion), and top 10 consulting firms (by 2024 revenue).

https://www.businessinsider.com/big-four-deloitte-pwc-kpmg-ey-staff-revenues-focus-2024-11?utm_source=

2. AI‑Powered Analytics & ML

Business consulting houses are embedding AI at the heart of back‑office and customer‑facing operations. AI could automate 80 percent of routine banking tasks, Accenture estimates — translating to $ 1 trillion in potential savings by 2025. Today, machines carry out 10–25% of bank functions, according to McKinsey research; a second wave could handle 60–70% of high‑volume tasks by 2027.

https://www.techmagic.co/blog/ai-banking?utm_source=

https://quidget.ai/blog/ai-automation/best-chatbots-for-finance-and-banking-ai-in-the-financial-industry/?utm_source=

In business consulting firms, LLM-based AI chatbot services provided by consulting firms like Deloitte and Accenture help reduce customer support query volume by 70% and improve cross-sell conversion ratios by 30%. Goldman Sachs has introduced AI assistants to 10,000 workers across research, risk, and coding—optimizing workflows and enabling rapid innovation.

Impact metrics:

• AI chatbots: 80% automation of routine inquiries.

• By using such models 25–30% reduction in credit risk modeling errors.

• $ 7.3 billion of annual savings from AI‑driven customer support.

https://www.mckinsey.com/industries/financial-services/our-insights/the-transformative-power-of-automation-in-banking?utm_source=

3. Robotic Process Automation (RPA)

Data is the new oil tagged with Robotic Process Automation (RPA). RPA platforms enable automation to be democratized for high‑volume, rule‑based tasks. Bringing in the business consulting firms, integrating RPA with AI “cognitive bots,” many are now able to automate as much as 80% of workflows—loan processing, account reconciliation, KYC/AML screening—with year one ROI of 30–200%. Seventy-five percent increase in insurance claims processing speeds and a ninety percent decrease in manual error rates.

https://www.grandviewresearch.com/industry-analysis/blockchain-technology-market

RPA implementations by top-tier management consulting organizations such as EY and PwC have enabled compliance teams to concentrate on strategic risk management instead of data entry, reducing loan approval cycles from days to hours.

RPA highlights:

• 80% of rule‑based banking tasks automated

• 30–200% first‑year ROI.

• 75% speedier claim processing; 90% error reduction.

4. Blockchain & Decentralized Finance (DeFi)

Payments, settlements, and lending are being transformed through blockchain and DeFi solutions. In 2024, the global blockchain market was USD31.28 billion and will soar at a 90.1% CAGR by 2030. Settlement times for cross‑border payments shrink from days to minutes, and smart contracts fill reconciliation gaps.

DeFi platforms enable peer‑to‑peer lending, tokenized assets, and liquidity pools offering 15–20% yields over money‑market rates. 2023, reach USD 4.36 billion in 2024 with 48.1% CAGR and jump to USD 49.2 billion in 2030 (55.9% CAGR), but the blockchain fintech segment reabsorbed only USD 15.9 billion up until 2030.

https://www.grandviewresearch.com/industry-analysis/blockchain-technology-market

https://www.marketsandmarkets.com/Market-Reports/finance-cloud-market-1053.html?utm_source=

Defi use cases:

• Less than 15 minutes for cross‑border payments.

• Securitization Tokenization — 30% more market liquidity.

• Decentralized lending pools with 20% + yields.

5. Open Banking & API Ecosystems

Regulatory mandates (such as PSD2 and the UK’s Open Banking Standard) have driven API‑driven innovation. In November 2023 the UK with 11.7million active open banking users and 22.1million monthly payments.

https://www.statista.com/statistics/1314421/uk-open-banking-users/

https://www.mckinsey.com/industries/financial-services/our-insights/the-transformative-power-of-automation-in-banking?utm_source=

The adoption of global open banking is predicted to double by 2027 when implementers Call For Funding and other consulting firms create secure APIs and developer portals. When banks become partners with a business consulting firm, they become part of a fast-growing third‑party fintech ecosystem — enabling them to further fintech collaboration and improve customer experience.

Open banking stats:

• 11.7million; UK users; 22.1million payments/month.

• 98% contribute more than 20% of revenue from existing customers and 50% from ARR.

6. Cloud Computing & Edge Solutions

Banks are migrating mission‑critical workloads to hybrid and multi‑cloud environments. Market Analysis: The finance cloud market was valued at USD 135.6 billion in 2023 and would grow up to USD 268.1 billion by 2028 at a compound annual growth rate (CAGR) of 14.6% during the forecast period.

Leading consultancy firms play a strong advisory role in architectural design—adopting edge computing for low latency trading analytics and AI inference—driving a 30% reduction in IT TCO and 40% faster time to market for new products.

Cloud metrics:

• USD 135.6 Billion (2023) → USD 268.1 billion (2028); 14.6% CAGR

• Reduce IT costs by up to 30% and accelerate time to market by 40%.

https://www.futuremarketinsights.com/reports/finance-cloud-market

7. RegTech & Compliance Automation

Compliance with AML, KYC, and data privacy mandates requires strong RegTech. The worldwide RegTech market was USD 17.02 billion in 2023 and will surpass USD 81 billion by 2030 at a 23.1% CAGR. Business consulting firms embed AI‑enabled transaction monitoring, real‑time regulatory feeds, and automated SAR filing in financial services consulting company's offerings—reducing compliance reporting from weeks to hours, and fines by as much as 50%Business consulting firms embed AI‑driven transaction monitoring, real‑time regulatory feeds, and automated SAR filing into financial services consulting companies offerings—cutting compliance reporting from weeks to hours and reducing fines by up to 50%.

RegTech stats:

• USD 17.02 Billion (2023) → >USD 81 billion (2030); 23.1% CAGR.

• Wrote 50% fewer fines; passed 90% faster reports.

https://www.grandviewresearch.com/industry-analysis/regulatory-technology-market

https://www.forbes.com/advisor/investing/top-robo-advisors-by-aum/?utm_source=

8. Data Analytics, BI & WealthTech

Investment advisory and business advisory services engender the pulse of advanced BI and analytics. MDs monitor multi‑asset portfolios using interactive dashboards and conduct Monte Carlo simulations to predict performance with 95% precision. Robo‑advisors democratize low‑cost wealth management with a current NET50 selling at USD 1.5 trillion and expected to expand to USD 2.3 trillion by 2028 (+29.5%).

https://capitaloneshopping.com/research/digital-wallet-statistics?utm_source=

WealthTech metrics:

• As of July 2021; USD 1.5 trillion AUM (2024) → USD 2.3 trillion (2028); 29.5% growth.

• Portfolio Analytics with 95% accurate forecast.

10. Cybersecurity and Biometric Authentication

As AI‑driven threats escalate, 80% of bank executives say they cannot keep up — even as institutions spend up to USD1 billion on cybersecurity each year. Succumbing to account‑takeover fraud, business consulting firms implement next‑gen SIEM, UEBA, and behavioral biometrics—fingerprint, facial, and voice recognition—66% less. The global banking biometrics market was USD 5.9 billion in 2023 and will surpass USD 15 billion by 2030.

https://www.datasciencecentral.com/how-behavioral-biometrics-reduces-online-banking-fraud/?utm_source=

https://www.datasciencecentral.com/how-behavioral-biometrics-reduces-online-banking-fraud/?

Cyber metrics:

• Execs worried 80% vs $ 1 billion spend .

• 66% decline in fraud prevalence with biometrics .

• On 2023 USD 5.9 billion (2023) → >USD15 billion (2030).

https://www.grandviewresearch.com/industry-analysis/regulatory-technology-market

11. Forex Brokers - Trading Platforms & | Forex Trading Platforms

Retail and institutional forex trading expanded to USD 4.39 trillion in 2023 — expanding to USD 4.83 trillion in 2024 at a 9.9% CAGR.

Leading management consulting firms offer advice on how to select regulated forex trading brokers, embedding AI-driven sentiment analysis and FX algo strategies that boost trade execution by over 15% and lower slippage.

Forex metrics:

• Total Market USD 4.39 trillion (2023) → USD4.83 trillion (2024); 9.9% CAGR.

• More than 15% better trade execution.

https://www.businessresearchinsights.com/market-reports/forex-and-prop-trading-market-117480

12. Choosing the Right Consulting Partner

As you search for the best consulting companies globally, you may want to start looking for firms that integrate:

• Strong banking domain knowledge and experience providing financial consulting services.

• Tailored wealth management solutions with proven investment advisory capabilities.

• Strong.tech partnerships (Microsoft Azure, AWS, Google Cloud).

• Agile delivery models for fast MVP build and scalable roll‑outs.

• Jurisdictional compliance for—local presence—consulting companies near me.

• Training in knowledge transfer to the client to decrease long-term dependency.

These are major names such as Deloitte, PwC, EY, KPMG, and BCG—each with USD5billion+ in annual banking tech revenues.

https://www.reuters.com/markets/deals/japans-mufg-spend-over-660-million-buy-robo-adviser-wealthnavi-2024-11-29/?utm_source=

13. Key Recommendations for Banks

• Audit your automation maturity: Work with a business consulting firm to benchmark against peers and discover low-hanging RPA/AI use cases.

• Embrace a cloud‑first approach: Architects and consulting firms with experience in financial institutions can design a hybrid cloud architecture to back real‑time analytics and digital banking platforms.

• Pilot blockchain and DeFi: Tokenized asset proofs‑of‑concept, piloted by top consulting companies in the world, for security and regulatory underpinnings, blockchain, and DeFi.

• Support RegTech: Utilize AI‑driven screening to automate your AML/KYC processes, cutting down costs while minimizing fines.

• Fortify  Cybersecurity with Biometrics: Deploy multi‑factor biometric authentication across mobile and web channels to cut fraud rates by more than 60%.

• Enrich wealth tech solutions: Join forces with independent financial advisors and investment advisory experts to introduce robo‑advisory and advanced BI dashboards for individualized customer experiences.

Conclusion & Future Outlook

In a time of rapid digital disruption for the banks, business consulting firms and consulting firms are always on the cutting edge of the wave, coupling technology prowess with domain familiarity that will propel new revenue opportunities in the rest of business. From AI and RPA to blockchain, cloud, and RegTech, groundbreaking solutions continue to proliferate in the suite, empowering financial institutions to improve ROI, reduce time‑to‑market, and create frictionless customer experiences. Best consulting companies in the world offer business consulting firm services that help banks stay agile, compliant, and competitive— ushering in the next frontier of finance where data, automation, and strategic advisory converge to create sustainable growth.

All data and forecasts are based on research and news outlets industry-leading in their field for the highest accuracy possible.

FAQs Frequently Asked Questions

1.What is AI in banking?  

A: Artificial Intelligence in banking uses machine learning algorithms to automate processes, mitigate risks, and personalize customer interactions, all in real time. It can assess daily trade positions overnight and optimize reserves to limit potential losses.

2. How does Robotic Process Automation (RPA) benefit banks?

A: RPA automates high‑volume, rule‑based business processes—account reconciliation, knowing your customer (KYC), etc.—surface cost reductions of 30–70% and reduce manual errors by as much as 90%. It also speeds up processing; claims can be handled with RPA bots in place at up to 75% greater speed.

3. What is blockchain technology in finance?

A: Blockchain is a decentralized ledger technology for immutable and transparent records of transactions, minimizing the time for reconciliation from days to minutes with the help of smart contracts. It is the basis of secure cross‑border payments and digital asset custody by removing single points of failure.

4. How does open banking work?

A: Open banking enables customers to share account data securely with third‑party providers through standardized APIs, facilitating innovative new payment and account aggregation services. It has 11.7m + users in 2023 and processes 22.1m payments per month in 2024.

5. What is RegTech, and why is it so important?

A: RegTech signifies all the technologies in the form of AI‑driven transaction monitoring and automated reporting that allow financial firms to be compliant with AML and KYC regulations in an efficient manner The global RegTech market is experiencing a CAGR of 23.1% growth, predicted to rise from USD 17 billion in 2023 to upwards of USD 81 billion in 2030.

6. What is Decentralized finance (DeFi)?

A: Decentralized Finance (DeFi) is a peer-to-peer financial ecosystem over a blockchain that enables lending, borrowing, and trading without traditional middlemen. It enables users to earn yields directly, frequently yielding returns 15–20% above standard money‑market rates.

7. What are Central Bank Digital Currencies?

A: A CBDC is a digital version of central bank money, 1 that is fully government-backed and intended for generalized public use in parallel to cash. Designed to extend safe means of payment without competing with physical currency, more than 70 jurisdictions are examining various CBDC models throughout 2024.

8. How do digital wallets work?

A: Digital wallets such as Google Wallet allow users to save payment credentials on mobile devices and make contactless or in‑app purchases with no fees attached. The system consolidates various cards and dated loyalty programs into one secure application, simplifying the checkout process.

9. What is a robo‑advisor?

A: A robo‑advisor is an automated investing service that creates and manages portfolios through algorithms, usually without high account minimums or fees. It automatically rebalances your investments, and it can offer personalized financial planning for a fraction of the cost of a traditional adviser.

10. How is cloud computing Used in banking?

A: Cloud computing allows banks to lease scalable computing resources — storage, applications, and processing power — on an as-needed basis, potentially lowering the total cost of ownership by as much as 55%. It underpins real‑time analytics and digital services, enabling institutions to deliver new products 40% faster.