Banking 2020 (eBook)

Introduction 1

The financial services salesperson’s guide to industry trends,

challenges and opportunities 1

1. Understanding the global banking industry 5

The six key megatrends impacting financial services 5

By the numbers 7

By location 8

Where does the money come from? 9

Two key divisions 10

Banking and the global economy 12

Banking and technology 13

Emerging entrants 14

Industry statistics 17

The rapid growth of electronic payments 25

2. Industry challenges 29

Growing competition from within the industry 29

Huge competition from outside the industry 32

Increasing customer expectations 33

Job losses 34

Digital transformation 36

Cyber-risk 38

Regulation 41

China’s growth 44

Consolidation in fi nancial services 44

Loan losses 45

Increased technology costs 46

Cost structures 48

Public perception 49

Quantitative easing 51

Scaling back 51

Brexit 52

Climate change 53

3. How do you grow and transform in this changing

environment? 55

The customer is now making the rules 55

Growth opportunities 56

Target client and market 58

Research 61

Approach 63

Needs analysis 68

Summarizing the situation 73

Finalize 76

obtaining a yes 80

Realize revenues 83

Management 88

4. The future 93

The massive impact of technology 93

Staffl ess and paperless branches 98

The future workplace 100

Staff training and upskilling 101

Cloud computing 103

Artifi cial intelligence 105

The internet of things 111

open banking 112

APIs 113

Apps 114

Social payments 115

Facial recognition 116

Video in banking 117

Blockchain 118

Self-driving cars 120

Spin off s and side bets 121

Long-term thinking 122

Conclusion 125

Data sources 127

Appendix: Competitive strategies 129

Australia 130

UK 133

Canada 136

Germany 139

France 142

South America 145

Middle East 147

India 149

Acknowledgements 151

About Mark Swain 152