Financial Services Ireland

Global Banking Outlook 2017: Uncertainty is no excuse for inaction

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Global Banking Outlook 2017: Uncertainty is no excuse for inaction

The year ahead is one of uncertainty for banks globally, but given the expectation of shareholders and even regulators, uncertainty cannot be an excuse for inaction. Banks must take decisive action to help them improve their financial performance, while also maintaining a strict focus on their control and protection agenda.  The challenges for European banks are stark.

Our survey of senior executives at almost 300 banks across the globe, indicates that over the next 12 months risk and regulation will continue to dominate management’s agenda, with nearly 70% saying managing reputational risk, including conduct and culture risks, are a top priority.

Despite this, many of the world’s largest banks are starting to look beyond the compliance agenda to optimize their businesses to help improve financial performance. As they seek to invest wisely and efficiently in innovation, they will need to rely on an ecosystem of providers and partners that will help them drive and implement change.

Global Banking Outlook 2017

Our 2017 Global Banking Outlook: Uncertainty is no excuse for inaction, looks at banks’ strategic priorities over the next 12 months and explores actions banks should take to help them both “keep safe” and “make things better”.  We continue to assist our banking clients in Ireland with their Growth, Regulatory, Cyber, Transaction, Tax and Assurance needs.

In response to the survey of almost 300 senior banking executives across 29 markets across the globe, the report proposes a five-step approach and actions bankers can take to improve their institutions’ profitability.

The research highlights bankers’ views for 2017 focused on:

  • Their outlook for the industry
  • Their organizations’ performance
  • Their banks’ strategic priorities for the next 12 months

Top five priorities for European-based bankers:

  1. Meeting regulatory compliance and reporting standards
  2. Managing reputational risk
  3. Optimizing customer channels
  4. Driving strategic efficiency and cost reduction
  5. Recruiting and retaining talent

I hope you find this report interesting and insightful. If you would like to discuss any of the issues raised, please don’t hesitate to contact me.

Cormac Murphy

Banking & Capital Markets, Sector Leader
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Global Banking Outlook 2017

Uncertainty is no excuse for inaction