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  Future of industries - Banking & Finance Industry  
     
     
 
Financial Services indudtry
 
Shining Perspective
Public / Private sector
In case of smaller banks, customer base proximity and penetration density in their locality
are very high
They lack discipline, process and technology compared to larger banks
After acquisition, the smaller banks need to go through a huge cultural transformation to
match the corporate culture of the buyer bank
A special task force is required for a minimum of two years to activate the transformation
Training on micro details of soft skills is also needed for better integration
Appropriate use of their existing workforce would be very crucial to maintain control over
the entire customer base and to ensure the relationships endure
 
 
As rest of the world continues to struggle with expanding fiscal deficits and external debt, it the emerging markets
of countries like China, India which holds the key to growth in financial services.
 
It should not surprise many if companies from these regions declare cross border mergers resulting in consolidation
of the industry.
 
Banks continue to move away from traditional outsourcing towards captive operations or a mix of captive and
outsourced operations.
 
Predictive analytics will result in less erroneous forecasting models.
 
 
  Industry Growth Drivers
  Growth in Emerging market
  Deregulation
  Retail banking
  Expansion across geographies
  Cross-selling
  Technology
  Value added services: Mobile banking/E-banking
 
  Industry Competitive Scenario
  Global Vs National competition
  Diversification
  Declining margin due to tougher competition
  Decreasing direct customer touch points by introducing value added services
  Increased convenience through technology
 
  Industry Complexity
  Government regulations
  Achieving economies of scale
  Risk management
  Managing Data privacy and security
  Managing customer experience as products are rarely differentiated and quickly copied
  Managing product and service innovation
  Multi-channel integration and optimization
     
  Industry Pain Areas
  High delinquency rate
  Customer churn/shift
  Debt recovery
  Post merger transition
  Increasing compliance costs
  Technological obsolescence
  High cost of technologies
  Increase in IT security cost
  Increasing IT security incidents like Phishing
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