As Accenture’s latest Top 10 Challenges for Investment Banks series goes to print, the industry is still laboring under cost and regulatory pressures and wrestling with digital technologies.
“Business as usual” is no longer an option and the investment banking industry has shifted gears accordingly: there is growing interest in digital technologies, utilities and ecosystems, as banks look beyond their own four walls to accelerate the creation of new capabilities.
For our current edition, this acceleration plays out across our Top 10 Challenges program in three key areas: simplification, digitization and innovation. Banks are simplifying to cut costs, improve growth and serve clients better. They are digitizing to attract the right talent and improve the client experience. Also, they are innovating to improve the research function and make the most of fintech and distributed ledger technology. The world is accelerating. The challenge for investment banks in the next year and beyond is to keep pace.