As banks face an array of challenges, will rethinking strategy help them thrive? We explore trends that will impact their strategies to drive a sustainable future.
Regulating from within
Single Resolution Mechanism: Getting a headstart
Single Resolution Mechanism: Resolution planning
Transforming talent: Global Banking Outlook 2016
The Intelligent Customer Experience: A new approach for banks
Preparing for the Fourth EU Money Laundering Directive
Rethinking risk management
Looking for acceptable, sustainable ROE?
IT in Wealth Management 2015
Guiding an industry in transition
Amid significant global regulatory reform, banks and securities firms are faced with numerous challenges and sweeping changes. As they seek to comply with new regulations while meeting the expectations of customers and shareholders for service, transparency and return-on-investment, banks are wrestling questions such as: How should operating models evolve? Where are the greatest opportunities for growth? What is the most effective way to raise and manage capital?
At EY, we have only one question for you: What issues can we help you with today?
|EY & ABBL conducted a survey on the investments made, the recurring costs incurred and the perception of recent regulations by Luxembourg banks.|
- Banking Foresights & Insights
Our seasoned professionals and renowned professors from the Wharton School combine their expertise: Global banking - foresight and insights videos help you get up to speed in minutes on a variety of top-of-mind banking issues.
European attractiveness survey 2014. Foreign direct investment decisions in Europe reached an all-time high in 2013. Find out what’s driving that trend in our European attractiveness survey.
World Islamic Banking Competitiveness Report 2014–15. Bahrain and six rapid-growth markets (Qatar, Indonesia, Saudi Arabia, Malaysia, UAE and Turkey) will drive the next wave in Islamic finance.
- CFO Agenda
Our CFO program seeks to provide insight and guidance on aspects of interest to CFOs, and future finance leaders, as they seek to develop themselves, their teams and learn from others within their community.
A changing landscape for tax risk. Due to mounting tax risks, the CFO needs to align the company’s tax planning and operations with its overall business strategy.
EU audit legislation: EY’s guide is designed to help companies with operations in the EU understand the new EU audit legislation, and how it may affect them.
- Emerging & Rapid Growing Markets
Our look at 10 rapid-growth markets (RGMs) reveals substantial optimism as increasing affluence in under-penetrated banking markets drives demand for more financial products and services.
The European Securities and Markets Authority (ESMA) announced on 7 November the registration of the first four trade repositories under the European Market Infrastructure Regulation.
EMIR : plus d’impact que prévu ? by Denis Costermans and Vincent Galand.
EY Eurozone Forecast – Winter 2014 - Outlook for financial services: Our Winter 2014 Eurozone forecast: outlook for financial services sees improving GDP, growth in consumer spending and falling unemployment. But what does this mean for financial services?
- Financial & Regulatory Reform
Are you prepare to navigate the regulatory lanscape? Global financial reform is daunting in its breadth and complexity. Read about peer insights and EY viewpoints.
The Foreign Account Tax Compliance (FATCA) will become effective in 2014. It makes substancial changes to information reporting and compliance requierements for offshore accounts. Read about regulatory requirements, interpretation, and implementation approaches.
Cost of regulation and its impact on the Luxembourg financial marketplace. EY & ABBL conducted a survey on the investments made, the recurring
costs incurred and the perception of recent regulations by Luxembourg banks.
Product intervention: Consumer protection agenda - Global regulatory reform.
The FCA is taking an interventionist approach to design, governance and oversight of products to stop potential consumer detriment. Find out how we can help.
FATCA: Updates since the release of the final regulations
The world of financial instruments just got more complex. Time to take note. Capital markets reform: MiFID II
- Human Capital
Strategic Global Mobility - Unlocking the value of cross-border assignments. This study, by Harvard Business Review Analytic Services and sponsored by EY, shows companies want flexible mobility structures to drive new market growth.
Managing global compensation - the quest for compliance: EY surveyed organizations across 17 sectors about how they manage the compensation process. Here’s what respondents had to say.
- Private Banking and Wealth Management
The Luxembourg wealth management industry is currently at a turning point, facing the challenge of adjusting its business model as a result of the end of banking secrecy for EU residents as from 1 January 2015, the evolutions of the customer profiles, needs and behaviors and the increased regulatory pressures.
Visit our Wealth Managament dedicated page to discover how EY Luxembourg can help you
Wealth management solutions continue to play an increasingly important role in the success of bank trust organizations, private banks, fees-based brokerage entities and RIAs.
Revenue reckoning: a transformational new standard - The impact of the new IFRS standard extends far beyond the finance function.
EY's Reporting Magazine addresses the reporting and governance challenges companies face as they tell their performance story.in many of this edition's features.
IFRS Insights: Your starting point for assessing the impact of changes to the International Financial Reporting Standards (IFRS), the single most important initiative in the accounting and financial reporting world IFRS.
- Retail Banking
Global Commercial Banking Survey 2014: Technology has made it easier and cheaper to serve bank customers, but for mid-market commercial customers, continued investment in digital technology is essential.
Looking at the bank from the customer's point of view: This paper summaries the rapid changes in customer preferences and behaviours that European retail banks ought to be aware of.
Excellence in Operations: helping banks regain customer trust. Opening a new account or transferring money with minimal fuss should be easy for the public, but banks often struggle to perform these simple tasks.
- Risk Management & Fraud
Managing operational tax risk: 2014 Tax Risk and Controversy Survey series. Finding the right people, processes and technology to manage record-to-report risks is no easy task. To consider how, see our survey’s leading practices.
EYs 13th Global Fraud Survey, Overcoming compliance fatigue: reinforcing the commitment to ethical growth indicates cybercrime tops list of fraud concerns for Irish businesses.
Shifting focus; Risk culture at the forefront of banking. EY’s 2014 risk management report surveys chief risk officers and senior risk executives about risk culture, risk appetite and the ongoing impact of Basel III.
Risk management is changing - Act now. Risk management cannot operate as it is, and radical changes are needed to ensure efficiency and reduce costs. Find out more.
Global confidence in the economic recovery is optimistic. We are seeing an increase in mergers and acquisitions (M&A) and divestitures. Read why internal audit (IA) should play a role during strategic transactions.
- Tax Change
The Luxembourg government comments on tax transparency and rulings. In a position paper on tax transparency and rulings published on 10 December 2014, the Luxembourg Ministry of Finance reaffirms its willingness to move towards enhanced transparency in tax matters.
FTT - Collection methods and data requirements. The European framework for a set of national financial transaction taxes is significantly more ambitious than any other existing tax regime for financial transactions.
VAT: In the Skandia America Corporation USA, Sweden branch, case, the CJEU found a VAT group is a wholly ‘new’, separate taxpayer from its constituent members.
European Council extends the scope of Automatic Exchange of Information, adopts OECD Common Reporting Standard and plan a repeal of the Savings Directive.
EY Tax Club - From G20 to Luxembourg - The impact of the BEPS recommendations
Final reports for 7 of the 15 BEPS actions were announced to be released on 16 September by the OECD.
- Technology Enabled Transformation
Banks battle for customers at the forefront of digital retail. Smart Commerce presents both fundamental risks and attractive growth opportunities for financial services organizations.
Leading the digital transformation of banking: Digital transformation is one of the most critical strategic issues for bank leaders.
Global Information Security Survey 2014. As the pace of technology evolution accelerates, so do cyber risks. Are you being proactive when addressing current threats and those on the horizon?
- Digital transformation
The world is characterized by a rapid pace of technological change, increasing connectivity and ubiquity, exponential growth of data and continuous innovation. Digital technologies such as mobile, social, analytics and the cloud are rapidly converging on the wealth management industry and will fundamentally shape client value propositions and operating models of wealth managers in the years to come.
- MiFID II
Since its implementation in November 2007, MiFID has been the cornerstone of capital markets regulation and investor protection in Europe. Since its inception, however, not all benefits have been fed down to the end investor as envisaged. MiFID II is aiming to address the shortcomings of the original MiFID release and respond to lessons learned during the financial crisis. MiFID II was voted in April 2014 with propositions of technical advices issued in December 2014. Implementation is due by 3 January 2017.
MiFID II is far from being a marginal change. The new text will radically change the market, with profound implications for all actors: banks, investment firms, asset managers in the funds industry, and market infrastructures. Impacts may be far reaching and go well beyond the traditional regulatory areas. We expect no business or operating model to remain untouched. In Luxembourg, the entire value chain in private or retail banking will be revisited as well as the distribution strategy in asset management.
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