EY Financial Services Briefing 2014 Issue 1
Financial Services Briefing - insights for your FY15 plans from EY’s global network
Insight: it’s defined as a sudden understanding that brings clarity to a complex issue. Insight can come from new ideas and information, or from connecting existing ideas and information in new ways. And in business, applied appropriately, it can provide an edge - a valuable competitive advantage for your organization in the markets you serve.
At this time of year, many organizations are engaged in business planning for the financial year ahead. It’s a time of year when we, as advisors, find our clients are most interested in our market insights and ideas – as well as observed trends – to help shape their strategy successfully for the year ahead. We also find that whether we’re working with banks, asset managers, insurers, or other groups in the financial services space, there are always key themes – such as big data, demographics, technology and regulation – that resonate and are relevant to most of the organizations we work with. So in this edition of the Financial Services Briefing, you’ll find a collection of EY’s best and latest insights and thought leadership from across the sector to help you as you develop your plans for FY15.
Key insights in this edition:
- Customer behavior and preferences are evolving as the world goes mobile. What does that mean for us in Asia-Pacific, where financial services organizations are also adapting to meet fast-growing demand from burgeoning groups of newly middle-class consumers? We surveyed more than 32,000 retail banking customers, right around the world, to understand what people want from their bank, how their preferences vary between markets, and what factors drive loyalty in a digital world. Read our special Focus on the Consumer report to learn more.
- As confidence creeps back to our global financial markets, growth is returning to the agenda. We’ve included some ideas on future growth opportunities in the insurance industry. We have some thoughts on the opportunities social media presents for asset managers. And we’ve included our latest Rapid Growth Markets Forecast released in February which examines consumption across 25 of the world’s fastest- growing markets.
- Also of note in this edition are insights and ideas on risk, regulation and operational effectiveness in financial services from our teams of advisors here in Asia-Pacific, as well as right around the world.
We hope that you’ll find Financial Services Briefing insightful and perhaps that with this edition we bring a new understanding to a complex issue you face in FY15. If you would like to discuss any of the topics contained in this edition, or would like to provide your feedback on this publication, please don’t hesitate to contact me or your local EY representative.
Very best regards,
| Tony Johnson |