In this edition, we explore the challenges and opportunities facing banks, insurers and asset managers in transforming their businesses, by focusing on three main drivers of change: the desire for efficiency, the shift to digital, and the evolving regulatory environment. We also interviewed executives from leading financial services firms for their practical insights towards industry and operational change.
Financial services leaders understand the urgent need to transform. Yet, many seem to be worried they may not have the people, processes or organizational agility to be able to do what is necessary to compete. Based on discussions with industry executives, Jim Liddy, KPMG’s Global Financial Services Chairman, looks at how they are Finding the fortitude to transform, and 5 focus areas to achieve the right foundations for sustainable change.
As financial services leaders strive to balance their short-term objectives against their longer-term imperatives, and move to re-evaluate, re-imagine and re-define their business models and operating strategies, the ability to take bold steps in making radical changes, will be the key to finding and creating opportunities for sustainable transformation and growth.