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Future Factors

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Future Factors

How Regulation, Client Expectations and Technology Are Transforming Retail Banking

EIU,

5 min read
5 take-aways
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Powerful forces are reshaping the future of retail banking.

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7

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Recommendation

Powerful forces are reshaping the retail banking business: The tectonic plates of customer demand, technological innovation, regulation, demographics and economics are grinding together, sending tremors through already reeling banks and creating an imperative to change. The Economist Intelligence Unit’s survey and analysis suggests that retail bankers who fail to act now will be on shaky ground, while those who find the right balance will ride out the shocks and thrive in the future. getAbstract recommends the report’s thought-provoking take on retail banking’s prospects to bankers, analysts and strategic planners.

Summary

For retail banking leaders, the pressure is on. A survey of 242 senior retail-bank executives from around world reveals that the factor having the greatest effect on the industry until 2020 will be regulation. However, regulation isn’t the only transformative issue with which these chiefs must grapple: Banks that cater to individuals and small businesses have to keep up with evolving customer demands, technological innovation and new competitors encroaching on banking’s traditional turf. These changes pose big challenges for banks’ business models and place a high premium on structural and operational...

About the Author

The Economist Intelligence Unit is an independent research and analysis unit.

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