Whoever coined the term “bankers’ hours” would hardly recognize the industry today. Facing intense competition from established and new players, relentless technological change and ever-evolving regulatory requirements, banks now operate in a fast-paced, a
How bankers can become innovation leaders again
The environment in which banks operate has changed rapidly and is continuing to do so at an ever-increasing tempo. Banks that want to keep up – and certainly those who want to take a lead – are having to pull out all the stops in order to respond properly to the wishes and demands of the client of the future.
Our analysis has revealed that new technology and legislation and regulations are the two primary factors pushing change. Regulations are making it easier for new players to enter the banking sector and, thanks to new technology, these parties are able to disrupt banks’ business model. Besides these two trends, social, economic and environmental developments are also playing an important role. What is more, clients’ expectations are changing now that they can be in contact with their banks digitally at any time and in any place, precisely at the moment in time that new players are forcing the banks slowly but ever more so to the background.
This is how we can help you
How do you ensure, in these changing circumstances, that your bank is a relevant player in 2020? We would be only too pleased to answer that question based on four factors which relate to client orientation, competition, the new business economy and the reinvention of your organisation. For more information about the ‘Future of Banking’ you can always contact our ‘FoB’ team.
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