Global banking outlook 2014-15
Five years after the global financial crisis, many aspects of the banking industry are unrecognizable when compared to the pre-crisis era, despite a global economic recovery that seems finally to be gaining traction.
In this environment, banks have been struggling to restructure themselves and rehabilitate the industry at large without neglecting the changing expectations of customers and shareholders.
Regulation will remain the primary driver of reform for the foreseeable future, but it is not the only one. We believe five unstoppable forces will drive banks to change over the next few years. Overlaying all of those forces will be a fluctuating and unpredictable economy.
Banks’ responses to those forces will be severely constrained by regulation in all its forms. But with “wait and see” no longer a viable strategy, we expect to see more banks transition from planning to execution, and those responses will coalesce around four themes.
Five forces for change:
These forces will result in four responses by banks: