Financial Services Briefing - Issue 2, 2013
Financial Services Briefing — bringing together insights from our global financial services network
Financial services organizations continue to experience a complex operating environment. Balancing costs and the continuing regulatory reform agenda while maintaining productivity and performance remain the ongoing challenges in the “new normal”.
Among the many insights contained in this edition addressing the challenges above, there are two distinct but related themes that stand out for me:
- Prioritisation of technology and innovation strategies - the proliferation of big data, faster computers and innovation in analytics offers new opportunities for financial services organizations. In our Operational effectiveness section we look at how banks and wealth managers can apply analytics to unlock new areas of value while protecting and optimising their business.
- Responding effectively to changing customer needs – our paper, The journey toward greater customer centricity, details how technology is changing consumer dynamics in the insurance space. Our global research study, Smart Commerce: banks battle for customers at the frontline of digital retail, explores how the impact of digital technology is changing the consumer buying experience and its implications for banks and their customer relationships. See our Growth section for these insights.
Also of note in this edition is the release of our second eBook with Knowledge@Wharton, Financial Services - Meet the Electronic Wallet, and the first release from the recently launched EY Global Financial Services Institute - The Journal of Financial Perspectives. The Journal includes articles on a number of top of mind issues including the future global financial architecture, regulatory issues, improving customer loyalty, risk governance and the culture revolution in risk management.
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 |