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  • Transforming banks, redefining banking - EY - Global
    2014 15 Transforming banks redefining banking Inside Forces for change and strategic responses Forces for change Regulation global and local Customer demands and expectations Technology and innovation enabler differentiator disruptor Competition old and new Society politicians citizens activists Strategic responses Business model redefined Customer relationships refreshed restored Organizations restructured and simplified Infrastructure redesigned shared Share Five years after the global financial crisis many aspects of the banking industry are unrecognizable when compared to the pre crisis era despite a global economic recovery that seems finally to be gaining traction In this environment banks have been struggling to restructure themselves and rehabilitate the industry at large without neglecting the changing expectations of customers and shareholders Regulation will remain the primary driver of reform for the foreseeable future but it is not the only one We believe five unstoppable forces will drive banks to change over the next few years Overlaying all of those forces will be a fluctuating and unpredictable economy Banks responses to those forces will be severely constrained by regulation in all its forms But with wait and see no longer a viable strategy we expect to see more banks transition from planning to execution and those responses will coalesce around four themes Five forces for change Regulation global and local New global standards challenge the profitability of business lines particularly within corporate and investment banking divisions Resolution plans and ring fencing require wholesale structural reforms with regulators prioritizing stability over growth National regulations threaten viability of global banking model Uncertainty remains but tactical responses no longer viable Customer demands and expectations Retail customers require greater transparency personalized products and seamless transition between channels Business customers expect banks to replace outdated systems and processes and to focus on solutions instead of product push Markets forcing changes to product and service mix All customers increasingly concerned about data privacy and cyber security Technology and innovation enabler differentiator disruptor Siloed legacy systems struggling to cope with scale of regulatory change and an increasingly digital business environment Exponential growth of data collection analysis and storage requirements Disruptive technologies challenging old models and providing customers with a greater choice of services and providers Competition old and new Regulatory requirements intensify the battle for scale and market leadership Increased product competition from shadow banks as they exploit new technology and banking regulation New entrants bring service and experience innovation to a range of banking payment and lending products threatening primacy of traditional banking relationship Society politicians citizens activists Industry damaged by the cumulative impact of regulatory and compliance failures Banks struggling to embed cultural and behavioral change End of caveat emptor as consumer protection legislation shifts full burden of responsibility for product suitability onto banks Shareholder pressure to implement business models that deliver sustainable returns and reward investors Four strategic responses Business model redefined Shift from product centric to customer centric models as banks strive to restore confidence Further exits of business lines and geographies as banks streamline operations and strengthen balance sheets leading

    Original URL path: http://www.ey.com/GL/en/Industries/Financial-Services/Banking---Capital-Markets/Transforming-banks---redefining-banking (2016-02-10)
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  • Successful corporate banking - keep customers close - EY - Global
    Accounting Advisory Services Financial Statement Audit Fraud Investigation Dispute Services Tax About Our Global Tax Services Country Tax Advisory Cross Border Tax Advisory Global Trade Global Compliance and Reporting Human Capital Private Client Services Law Tax Accounting Tax Performance Advisory Tax Policy and Controversy Transaction Tax VAT GST and Other Sales Taxes Transfer Pricing and Operating Model Effectiveness Strategic Growth Markets How we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Financial Services Banking Capital Markets Successful corporate banking Successful corporate banking keep customers close Inside Keep customers close Managing banking relationships Bank performance criteria Bank selection and performance evaluation Strengths and challenges Share Despite the rebound from the 2008 financial crisis corporations are re examining the strength and stability of their banking partners Lingering worries about market volatility political and economic uncertainties and recent regulatory reforms are spurring many organizations to manage their banking relationships more rigorously To learn more about how major corporations are evaluating bank performance and relationships we interviewed senior financial executives from 20 global corporations for our 2013 Corporate Banking Survey In summary we found that traditional principles of business relationships mutual commitment dedication and trust are more important than ever More specifically a majority gave their current core banks high marks

    Original URL path: http://www.ey.com/GL/en/Industries/Financial-Services/Banking---Capital-Markets/Successful-corporate-banking---keep-customers-close (2016-02-10)
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  • Banking and the global economy - EY - Global
    Global banking outlook 2013 14 Banking and the global economy Contents Banking and the global economy Steven Lewis on the global banking outlook videos Adapting to the new environment Restoring reputations Shifting the internal culture Engaging with customers Creating a new product mix Building better price models Preparing for fundamental restructuring Evolving the branch experience Updating technology Embracing mobile money Share As policy makers struggled central bankers took the first decisive steps to restore confidence to the markets and broader economy They have also bought time for politicians to agree on long term measures to resolve structural issues When we released our first global banking outlook in March 2012 there was little doubt that the environment would be a difficult one for banks Fast forward to the beginning of 2013 the prospects are better but not great In this edition of the outlook we assess the state of banking in the global economy and outline these 10 issues challenges and opportunities for banks to consider during the next two years Adapting to the new environment Restoring reputations Shifting the internal culture Engaging with customers Creating a new product mix Building better price models Preparing for fundamental restructuring Evolving the branch experience Updating technology Embracing mobile banking Watch Steven Lewis Global Banking Capital Markets Lead Analyst discuss the global banking outlook for 2013 14 Headed in the right direction Global growth is predicted to recover across most major developed and rapid growth economies in 2013 14 see table below In Europe the banking situation has improved in part due to the long term refinancing operations of the European Central Bank ECB which helped ensure there was plenty of liquidity in the system And the proposed banking union when fully implemented will give the ECB supervisory power to intervene directly in any of the Eurozone s more than 6 000 banks However until remaining uncertainties are addressed and peripheral economies improve we are likely to see continued challenges for banks and borrowers as growth in Europe remains muted In the US the picture is more upbeat but still mixed Growth in 2012 was positive but below long term trends and the housing recovery remains slow and patchy And although businesses and consumers are starting to borrow again credit growth remains stop and go China seems to have engineered a soft landing without resorting to the level of stimulus used in 2008 and 2009 And in an interesting long term development banks now have more freedom to deviate from the People s Bank of China benchmark interest rates for deposits and loans In rapid growth economies other than China 2013 14 will see further significant investment in infrastructure and the development of higher end industries to reduce dependence on raw materials and commodities exports Improved corporate governance and a reduction in the size of the unofficial economy will allow firms to access capital markets for funding and rely less on bank loans Real GDP growth for the G20 group of countries 2011 14

    Original URL path: http://www.ey.com/GL/en/Industries/Financial-Services/Banking---Capital-Markets/Global-banking-outlook-2013-14--Banking-and-the-global-economy (2016-02-10)
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  • Smart Commerce - Battling for customers in digital retail - EY - Global
    Tax Performance Advisory Tax Policy and Controversy Transaction Tax VAT GST and Other Sales Taxes Transfer Pricing and Operating Model Effectiveness Strategic Growth Markets How we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Financial Services Banking Capital Markets Smart Commerce Smart Commerce Battling for customers in digital retail Share With tablets and smartphones at the forefront consumers are experimenting with and in some cases embracing online shopping digital wallets digital payments and online retail sales promotions We refer to this developing digital retail landscape as Smart Commerce Merchant driven development In our recent survey all respondents reported belief in a future of simplified digital payment methods and richer communication between merchants and consumers However the real value in Smart Commerce is likely to come from new services in retail sales promotion improving consumers lives and helping merchants meet consumers needs more efficiently and conveniently Smart Commerce goes mass market Survey respondents believe that Smart Commerce is evolving quickly Forty one percent believe that digital retail will be a regular experience for most consumers within two years and 91 percent believe Smart Commerce will be mass market by 2018 How soon will Smart Commerce be a daily experience for most consumers in your market Base Financial services respondents 34 Three issues each mentioned by more than half of respondents stand in the way of Smart Commerce progress to date Slow pace of retailer adoption Lack of added value for consumers in digital payment solutions Conflicting commercial interests Risk or opportunity Banks see customer intermediation and the accompanying decline in bank relevance to consumer commerce as the main risk posed to them by Smart Commerce Most respondents fear the potential dilution of the end bank customer relationship and its impact on brand relevance Many banks and card processors feel threatened by a future dominated by e wallets digital payments and new electronic point of sale hardware Most respondents indicated some concern about the direct revenue impact of their customers adoption of digital wallets Yet Smart Commerce presents an unusual opportunity for financial services institutions to generate revenue from a profit pool to which they have had little access to date namely retail sales promotion Bank support for digital payment Survey respondents recognize that banks possess a key asset bank customer data and its view into purchasing behavior More than 80 percent of respondents therefore believe banks can support targeted digital retail sales promotions using customer data in addition

    Original URL path: http://www.ey.com/GL/en/Industries/Financial-Services/Banking---Capital-Markets/Smart-Commerce---Battling-for-customers-in-digital-retail (2016-02-10)
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  • The mobile money revolution is here - EY - Global
    Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Financial Services Banking Capital Markets The mobile money revolution is here The mobile money revolution is here Share The mobile money revolution can be seen in the 590 million mobile phone owners who bank using their phones today a number expected to top 1 billion by 2017 The trend is most notable in the developing world where millions of people who lack bank accounts use their mobile phones as electronic wallets accessing the financial system for the first time How is the banking industry coping with the challenges of the mobile money ecosystem What strategies are emerging and what pitfalls should be avoided in a landscape where competitors include businesses telecoms and tech firms for instance that until recently had nothing to do with financial services Developed in collaboration with Knowledge Wharton our new enhanced eBook Mobile Banking Financial Services Meet the Electronic Wallet explores these questions Mobile payment explosion In 2001 there was only one mobile payment system in the market Today there are 150 in everyday use and 90 more in development Consumer demand for easy access to their money through electronic wallets has grown exponentially driving the technology that enables mobile banking products and services Consumers will soon expect mobile money to be accepted almost everywhere Demand in the developing world In some countries more people use phones for banking than they do banks That number is expected to nearly double between 2013 and 2017 as hundreds of millions of people in the developing world adopt mobile banking as the centerpiece of their financial lives Businesses looking to break into the developing world s mobile banking market must consider the unique challenges and opportunities of these economies as well as relevant regulations Some firms have successfully established mobile banking businesses in the emerging world but a single model will not work for every market Capturing the mobile market In the US 87 of people carry a cell phone and 45 carry a smartphone The ubiquity of cell phones is central to the value proposition for mobile banking industry in the developed world But as consumers adopt mobile money services as their habitual method of payment it s possible that the mobile platform will be operated by an entity that is not a bank Battle for the electronic wallet Even if everyone knows that we ll all pay buy and lend via mobile banking someday no one knows

    Original URL path: http://www.ey.com/GL/en/Industries/Financial-Services/Banking---Capital-Markets/Financial-services-meet-the-electronic-wallet (2016-02-10)
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  • Global banking: Foresights and insights (Video VI) - EY - Global
    banking personalized service split Part 10 of 18 Customers will still demand personalized service in some areas such as financial advising But mobile devices will help them be better informed about products Security remains an issue for mobile banking Part 11 of 18 Mobile banking is safer now than in the past but continued improvements must be made if banks want to increasingly drive business through mobile technology Banks compete for opportunities driven by customer data Part 12 of 18 Expect banks to face stiff competition from telecom companies in turning customer information into new business opportunities Working with retailers offers opportunities and risks Part 13 of 18 Collaborating with potential competitors will likely be necessary for various mobile banking transactions Banks must learn how to protect themselves and develop new strategies to be successful What are the chief risks in mobile banking Part 14 of 18 Banks must make investments in product delivery channels and segmentation to attract customers as well as manage costs and security associated with technology How can banks build customer trust in mobile banking Part 15 of 18 In emerging markets security and reliability in mobile banking will help engender customer trust In the US younger people and more products will lead the way Searching for the grand mobile banking strategy Part 16 of 18 Banks should be deliberate and focused on the desired customer population and decide which products will serve them best Keeping an eye on mobile banking trends Part 17 of 18 Watching the emerging markets for future innovative products is key as well as potential opportunities in payment systems and the remittance market Will mobile banking lead to a cashless society Part 18 of 18 Some regions of the world are already checkless The days of waving a mobile phone over a receptor are on the way The future of mobile banking full video Mobile banking is the next big thing in the retail banking industry many observers say Over the next five to 10 years expect it to become as routine as using ATMs But successful customer experiences will require large technology investments tricky collaborations with competitors and a clear own the customer strategy Session moderator Steve Sherretta Knowledge Wharton editor Panelists Steve Ferguson Asia Pacific Banking Capital Markets Leader EY John Keller Americas Banking Capital Markets Advisory Leader EY Keith Weigelt Professor of Management The Wharton School Top placeholder should not display placeholder Video topics What does mobile banking mean for banks Tablets vs smartphones Assessing potential markets for mobile banking Emerging markets blaze trails in mobile banking How will mobile banking drive innovation Should banks expect cooperation or competition from retailers The future is still cloudy for mobile banking Can banks make money in mobile banking Lessons from past banking innovation Measuring the mobile banking personalized service split Security remains an issue for mobile banking Banks compete for opportunities driven by customer data Working with retailers offers opportunities and risks What are the chief risks in mobile banking

    Original URL path: http://www.ey.com/GL/en/Industries/Financial-Services/Banking---Capital-Markets/global-banking--foresights-and-insights-series-vi (2016-02-10)
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  • 8 trends shaping the bank of 2030 - EY - Global
    Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Financial Services Banking Capital Markets The pace and direction of change is difficult to predict but the ideas here are thought provoking and worthy of consideration as you assess potential M A activities against an uncertain and fast moving environment David Barker Partner EY London Global Banking Sector Leader for Transaction Advisory Services Share The financial and sovereign debt crises jolted the global banking industry from a period of relative calm and prosperity into one of great uncertainty As the shock wears off and the industry adapts key themes are emerging that will affect banking business models for decades We outline below eight major trends that are likely to shape banking to 2030 and beyond 1 Nationalism vs globalism limits on the global banking model New economic challenges might push many nations to adopt protectionist trade approaches This would affect the banking industry s ability to enter or exit markets and constrain ownership structures and repatriation of funds 2 State capitalism a new force in global banking Although the exact architecture of global regulation remains a work in progress state involvement in both the structure and daily operations of the banking industry is inexorably growing Despite the obstacles of new regulation this shift will also generate new business models as resource limited governments welcome partnerships with institutions able to provide ideas capital and operational skills 3 Trade flows opportunity and volatility Because most trade takes place within regions global banks will need to leverage the expertise of strong regional partners Tied to this theme successful global banks in 2030 will also be known for their high service standards and long standing client relationships 4 New markets the emerging will have emerged By 2030 many markets currently dubbed emerging or growth markets will have reached maturity In Asia Latin America and Africa a new set of high growth markets will have taken their place Global banks will be able to compete in these markets but they will need to carefully navigate local needs and regulations 5 Demographics an older more urban generation Demographics will drive the future of banking Forecasts indicate that global inhabitants will surpass 8 billion by 2030 a population that will be ever more elderly New banking business models will be needed to serve this aging and increasingly urban demographic 6 Customer relationships more personal greater trust Customers are taking more control of their financial relationships and this trend is unlikely to change By 2030 banks will deepen their personal connections with customers via data analysis techniques that might seem fantastic by today s standards From the outside the business model for a single global bank in

    Original URL path: http://www.ey.com/GL/en/Industries/Financial-Services/Banking---Capital-Markets/8-trends-shaping-the-bank-of-2030 (2016-02-10)
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  • Global financial regulatory reform - EY - Global
    Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Financial Services Banking Capital Markets Global Regulatory Network Global Regulatory Network Find solutions to your regulatory challenges Global Regulatory Network About the Global Regulatory Network Meet the team Capital and liquidity Recovery and resolution Governance Risk culture Structure Conduct Share About the EY Global Regulatory Network Our Global Regulatory Network helps clients find solutions to their regulatory challenges providing extensive experience leadership and strategic insights on financial regulation The network enables our clients to understand and adapt to the impact of the changing regulatory landscape Led by Dr Tom Huertas former Alternate Chair of the European Banking Authority the network comprises more than 100 former regulators throughout the Americas Asia and Europe many with senior regulatory experience including membership in the Basel Committee the Financial Stability Board the European Banking Authority the Federal Reserve Bank of New York and the Japanese Financial Services Agency Regulatory perspectives Meeting supervisory expectations in 2016 Banks must answer four questions as they consider how to create a strategy and design implement and manage a business model that meets growing supervisory expectations Responding to the Financial Stability Board s Total Loss Absorbing Capability TLAC standard FSB s new TLAC reserve capital requirements will help end too big to fail but much will depend on the resolution strategy that the bank wishes to employ What do banks need to

    Original URL path: http://www.ey.com/GL/en/Industries/Financial-Services/Banking---Capital-Markets/Global-financial-regulatory-reform--home (2016-02-10)
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