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A quick introduction from our Head of Banking and Insurance, Stanislas Chambourdon and Partner Anne-Sophie Minaldo.


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The past ten years have brought unprecedented innovation to the banking sector, from new customer channels and propositions to better back-office technology and automation.

KPMG International has recently conducted a survey of bank CEOs from around the world, with several telling results. For a start, the CEOs agreed that the pace of technological disruption has only just begun to pick up momentum—and nearly half of them expect major changes in the sector over the next three years.

Most bank CEOs have taken a healthy attitude towards innovation, and great progress has been made towards becoming more “customer centric”, which is all good news. New technologies to speed up transactions and processes are being tested, middle- and back-office processes are being realigned with the customer, fintech is hugely improving customer experience, and serious effort is going into customer data and analytics.

These changes are evidence that bank CEOs have taken an interest in getting closer to their customers, and that technological disruption is increasingly seen as an opportunity. An impressive 63% of the CEOs believe they are already actively disrupting the sector.

Since the crisis, banks have been facing the huge challenge of re-establishing trust with their customers and with the public. Investments in compliance and technology have been made to these ends, deteriorating cost-income ratios. This approach was pretty much shared across the industry, as a way to guarantee a sustainable financial services offering.

In that context, what will the next decade bring? Banks will need to secure new skills and capabilities, not only to manage new operating models but also to sustain more active innovation programs. They will need to be more aware and agile to respond to market changes and client needs. And they will need to trust their data if they want to make fundamental changes to their underlying business and operating models.

Since business and operating models themselves are already being disrupted, banks around the world need to consider what it will take to reach the next level of innovation.


Download the full report (PDF, 5.39MB)

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