New challenges and new opportunities for financial services
Financial organisations around the world are looking ahead. New challenges and new obstacles loom large, but as the global economy evolves, many new opportunities present themselves.
But first, the challenges. They include a host of new regulations aimed at reducing risks in the system; increasing capital reserves; growing revenue in recession-wrecked economies of mature markets; competing and partnering with non-traditional players; rebuilding trust across the global financial system; and, finally, competing to attract and retain increasingly demanding customers. Just to name a few.
With that in mind, the opportunities are there for those who want to change the conversation from one about problems to one about possibilities. The global economy is expected to show a growth rate of 5.8% compounded over the next 15 years. Global assets are expected to quadruple within the same time frame to $1,264 trillion1 and 2.5 billion unbanked or under-banked people worldwide constitute a large untapped customer pool.
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How IBM can help
1 or 1.264 quadrillion - Economist Business Unit estimate, IBM Institute for Business Value