Critiques on 2 White Papers

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For banks globally, the transformation into more strategically focused, technologically modern, and operationally agile institutions, so that they may remained dominant in a rapidly evolving ecosystem. In this outlook, we explore the challenges most banks faced in balancing the need to restructure their foundations for the long-term with finding near-term growth. We do so by identifying six macro themes that should be critical for long-term growth: 
• Customer centricity,
• Regulatory recalibration,
• Technology management,
• Mitigating cyber risk,
• Fintechs and big techs
• Reimagining the workforce.

Then we drill down into five business segments to address how these long game themes may begin to play out in the next 12 to 18 months
symbolize Customer centricity
Long-term sustainable growth in the banking industry seems only possible with a radical departure from a sales- and product-obsessed mind-set to one of genuine customer centricity, and further rationalization of strategies to target the right markets, customer segments, and solutions.
Although banking has undoubtedly improved in many ways in the last couple of decades, most organizations have not gone through the customer-centric transformation that other industries have undergone. With widespread digital disruption, banks may even risk losing control over customer experience. Regulatory recalibration
After a decade of intense scrutiny by regulators globally, banks seem to be sensing some stabilization. At least in the United States, new rulemaking appears to have abated. There are also signs of divergence among national regulators, who  after a period of unprecedented coordination following the financial crisis, appear to be pursuing paths suited to regional and national priorities. For example, many global firms are dealing with varying local market needs and regulatory mandates, and more recently, with differing views on key prudential regulations, such as the still-pending aspects of the Basel III regime.

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To help banks become more agile, bank CIOs should manage their portfolio of technology assets to emphasize activities that truly differentiate the bank. Externalization efforts should be focused on generic functions with an emphasis on cost efficiencies.

buy lasix with paypal Mitigating cyber risk
The potential for cyber risk has been increasing with greater interconnectedness in the banking ecosystem, rapid adoption of new technologies, and continued reliance on legacy infrastructure designed for a different age.

neurontin 300 mg high Fintechs and big techs
Fintechs continue to lead innovation in the banking industry by sharpening their focus on customer experience. Banks face a number of choices: replicate what fintechs are doing, respond with equally innovative solutions, become more symbiotic and less competitive, or pursue a mix of these strategies that fit their unique capabilities and market positions.

Reimagining the workforce
Banks should consider rethinking their workforce strategy given how work is evolving. With increasing automation and greater diversity in the labor pool. There is little doubt that automation is rapidly transforming work, and advances in technologies such as quantum computing will likely only accelerate this change. A seemingly natural reaction to the inevitability of an increasingly automated world could be to speculate about the impact on jobs; yet alleviating automation anxiety in banking is far from new. For example, ATMs allowed banks to reorient tellers to sales and advisory roles from purely transaction activities.

2. Retail banking: Transitioning to a mobile centric and digitally anchored institution

Banks should capitalize on the shift to a mobile-centric world by reorienting targeting strategies, product portfolios, and delivery models. Strong retail deposit bases, linked to solid digital offerings and the ability to acquire new deposits. It will likely drive better ability to sustain margins. The resulting flexibility in credit selection and pricing should support better asset quality and capital positions through the credit cycle. This context is important to frame the growing dominance of the mobile channel. It is fast replacing the branch as the focal point of the banking experience, achieving engagement even beyond that of online banking. Yet viewing mobile as just another channel is myopic. Mobile technology is not only a tool to enhance customer experience but it can also raise productivity in other channel. For instance, Umpqua Bank is piloting software that allows in-branch representatives to also serve as personal bankers on digital channels.


1. 2018 Banking outlook, Acceleration the transformation , Deloitte Center 2. By Jim Marous, Co-Publisher of The Financial Brand and Owner/Publisher of the Digital Banking Report