Financial Services Briefing - Issue 3, 2013

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Financial Services Briefing — bringing together insights from our global financial services network

It is that time of year when we reflect on the key issues that shaped 2013 and start planning for 2014 and beyond. In the past year we have seen signs of improvement across global economies, albeit at a slow pace.

When looking back on the year that was, financial services organisations continue to be challenged with the task of identifying future growth opportunities, while trying to balance the push and pull of reducing costs, staying on top of the latest technology advancements and the ongoing regulatory reform agenda. In this environment, there is a continued focus on the customer and the evolution of business models.

Among the variety of issues and topics covered in our latest edition of Financial Services Briefing, two that I would like to highlight are:

  • How can banks completely transform their cost bases, and hence core processes, to realign their business models to the new normal? This is just one of the questions posed in Building the bank of 2030 and beyond: the themes that will shape it which identifies eight themes likely to shape the market over the next two decades. 
  • Digital is transforming consumer behaviour and driving financial services organisations to reassess their business models. In our global survey, Insurance in a digital world: the time is now, we look at how digital is reshaping the global insurance industry landscape and explore digital readiness and future strategies.

Also of note in this edition is our bumper Risk section with a variety of thought provoking publications relating to risk appetite, risk management, and information security.

I trust you will find this edition relevant and insightful. If you would like to discuss any of the topics contained in this edition in further detail or would like to provide your feedback on this publication, please contact me or your local EY representative.

Tony Johnson Tony Johnson
Managing Partner
Financial Services