The CEO Briefing 2014: Banking Industry report, written by Accenture and the Economist Intelligence Unit (EIU), provides a blend of macro-economic, strategic and global business insights. Drawing on the views of more than 1,000 C-level executives—including 115 from the banking sector—the report explores prospects for the global economy, and how digital technology is transforming industries and changing the way businesses operate.
Survey results indicate that bankers are confident overall, especially for emerging markets, predicting strong and stable growth, but that they realize their companies cannot be everything to everyone. Respondents acknowledge that they need to adopt digital technology, including cloud computing, mobile technology and data analytics, to meet the industry’s new customer-centric approach.
Given the growing regulatory constraints, the industry needs to tread carefully as it explores new ways of delivering services and alternative business models. Still, if banks are to continue expanding their markets and preventing new market entrants from stealing their business, they need to use technology and innovation for more than just cutting the cost of errors and reducing operational risk.
Download the full report [PDF 1.11 MB]