An exploration of changes, challenges and opportunities facing the Banking and Financial Services industry over the next 3 to 5 years
Banking and financial services have faced significant headwinds in recent years.
They have been tackling everything from historic miscalculations to low interest rates, while regulatory changes have been wide ranging and set further constraints. Cost reduction and management have also become a key focus.
Alongside this, we are seeing changes in customer behaviour and expectations amid the mass-adoption of faster and smarter technology.
Significant opportunities still remain for providers that can serve their customers well, using new technologies across all channels. But less agile and cost-constrained organisations are likely to find the next five years as challenging as the past five with the convergence of mobile technology, customer needs and wants and new players.
Banking Moving Forward is a new Experian series which analyses and outlines the potential changes, challenges and opportunities likely to face the sector within the next five years.
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