The growth gap
Banks aim to succeed, not merely survive—Accenture Strategy research found that banks are aiming for a return on equity of 11 percent and between 35 and 45 percent of cost-income ratio. While many other industries are taking advantage of a more competitive market to generate revenue and grow, banks’ efforts are often frustrated.
Digital disruption, changing consumer behaviors and new digital entrants are introducing diverse competition. To manage these challenges, banking leaders must seek out greater efficiencies. By embracing strategic cost reduction, banks can fund new streams of growth, restructuring their operations to reach new levels of business competitiveness.