| Future
of Banking - Expectations
Future of Banking
Video - Prof Prabhu Guptara UBS and Dr Patrick Dixon
Presentations
on future of banking - Also investment banking video below
Impact of new technology
on banking and financial services
Summary (2002): Future of banking and financial services in Europe? Rapid European
consolidation - Huge reduction in bank branches - Huge growth in online
financial services activity - Struggle to be key global finance players
- Giants will partner with small players to develop new retail and
wholesale financial products and services rapidly - Relationship and
trust will always dominate top-end premium banking relationships -
One-click bank account changes will be on the horizon - Credit / charge
card use will grow as written cheques all but disappear.
The next banking revolution will
be well under way by 2004, with a fresh wave of aggressive global
consolidation, mergers and alliances in order to achieve maximum
market dominance in financial services. National mergers will produce many finance giants, but even
these will be vulnerable to hostile takeovers from outside the country,
unless they develop a strong global presence, especially in investment
banking and wholesale banking services. In the process many household name brands will disappear
altogether.
At the same time margins will
come under sharper pressure with bank / trading commissions and
other charges falling rapidly in every area. New technology will make traditional client relationships
redundant in the mass retail market, as more people become detached
from their area branches and bank managers. Banks will respond by moving upmarket as fast as they can,
chasing premium "relationships" in private banking and corporate
finance sectors. Differentiating
through service rather than just price will be a key feature of
corporate banking throughout the next half decade.
Many retail banks will be faced
with a huge, urgent challenge of winding down and closing large
numbers of branches, with social, political and image issues. At the same time they will be dealing with complex post-merger
problems of culture, product and IT integration. Many larger banks will find their capacity to change or develop
is limited by these post-merger clean-ups. The most successful mega-banks will be those able to acquire,
integrate rapidly and move on, maintaining momentum in the financial
services market.
Banks will spend huge amounts
on electronic customer relationship management, trying to stay closer
to people while reducing staff. However non-bank competitors will hit back with better data
and closer weekly access - for example supermarket chains. New entrants will surprise many with their creative energy
and success.
Watch out for:
 |
Spectacular growth
in use of online banking facilities to manage money, rather
than just for account reporting - in both retail and corporate
sectors |
|
Major shift towards
charging for investment advice rather than for commissions |
|
New digital signatures
legally binding in many countries leading to entirely new
patterns of consumer activity |
|
Huge growth in
wireless banking and payment services using next-generation
mobile phones, 3G etc while WAP will remain a poorly used
option for managing accounts |
|
Plans by financial
services intermediaries to allow customers to move loans or
accounts between financial institutions authorised by a single
mouse-click, with legal safeguards and special security arrangements. This will have a profound long term impact. |
More on banking:
Future of investment banking and relationship management - 2006 lecture
Keynote for 150 UBS financial intermediaries looking at key trends that will impact their business - high net worth clients wealth management, family office, investing.
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Archive
pages Search
this site - 80 presentations
The next techno-wave: RFID - 10 billion wireless tagging devices
Wal-Mart races ahead with Radio Frequency Identification Devices (RFIDs): electronic barcodes for manufacturing, distribution and retail - major concerns about data leakage, privacy and civil rights
The Future of Outsourcing
Business processing outsourcing, call centre, IT, offshore HR services, customer support, legal and accounting. Truth about outsourcing impact on emerging economies, US and Europe. Benefits and risks.
Future impact of global warming on human life
Truth about global warming research. How consumers, business and governments will respond. Opportunities / threats from climate change.
YouTube Videos by Dr Patrick Dixon
Future of Ukraine - economy and country
Future of Malaysia Economy
Future of Kazakhstan - economy
Impact of ageing population in Europe and Russia
Purpose of fund management - by Patrick Dixon
Fund Management Risks - Potential Crisis - Patrick Dixon
Wild cards - low probability, high impact events
Why market research gives wrong results - blogging
The world is changing faster than you can make decisions
Future of Malaysia
Innovation
Real estate and construction industry trends
Life insurance, pensions and life expectancy trends
Limits to economic growth and sustainability
Why ports, ships and shipping will dominate global trade
Economic growth of former Soviet Bloc nations, Russia etc
Too late for outsourcing?
Outsourcing in India, China, Asia and Central Europe
Mobile phones, banking and financial services trends
Bottom of the pyramid - selling to the world's poor and making a difference
Microloans, microfinance, microcredit and future of banking
Business values - corporate and social responsibility really matters
Global brands, mergers and demergers
Customer focus and call-centre disasters
Women consumers rule - female customer trends
Insurance market in India, China and rest of Asia
Future of the Petrochemical Industry
Sovereign wealth funds - investment trends
Commodity shortages and prices - global trends
Retail revolution in India
Demographic impact on business
Risk management - leadership in uncertain times - wild cards
Institutional blindness
Blogs - web / video diaries on trends / management by Dr Patrick Dixon
Future Trends - main blog
Future of Banking and Financial Services
Future of Digital Technology
Future of the Telecom Industry
Future of the Pharmaceutical Industry
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