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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.

Much of that movement will happen in emerging markets. A recent survey by the IBM Institute for Business Value shows tomorrow’s banks must become more client centric by leveraging sophisticated insights to improve risk management, pricing, channel performance and client satisfaction.

Smarter retail banking. Watch the video.Smarter retail banking. Watch the video.

Smarter retail banking
The banking industry has to fundamentally reorient their business models, by moving from product-centric silos to customer-centric strategies. See how it's done. Watch the video. (00:05:22)

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A series of conversations for a smarter planet

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Social business in Financial Services

Watch the video.