As financial services continue to recover from the crisis and strengthen risk management, the focus remains on regulations and cost reduction.
Financial services continue to recover from crisis...
KPMG professionals are the trusted advisors to the world’s leading financial services organisation, helping them create and protect sustainable value. We provide professional services to 78% of the global 1200 companies.
KPMG's Financial Services practice has more than 36,500 partners and professionals across our global network, providing audit, tax and advisory services to retail banking, corporate and investment banking, investment management and insurance sectors. We leverage the vast knowledge, skills and experience across our global network of firms to help clients to identify and to address their most complex business problems with confidence.
Demographic changes, inadequate personal savings, new pan-European regulation aimed at improving transparency and the rise of technology mean that financial services organisations need to become increasingly focussed on the customer. Customers need to receive the right products at the right time thus enabling the economy to flourish, whilst customers are safe in the knowledge that they are protected.
Technology is driving change across banking, insurance and investment management companies. Customers expect to receive tailored products and access these in the way they want. Improved data and analytics is making this possible and more people than ever have access to financial products.
Regulation has a constant impact on the sector. Whilst driving trust and transparency for customers and government, it also adds to operating costs. The regulators tend to focus on procedures, systems and inputs, not on outcomes. Is regulation starting to stifle product innovation?
Shifts in public policy – such as pension provision – are causing all sectors to think differently, change business models and access new customers. It is not simply a case of responding to individual challenges, but dealing with all challenges in a holistic way whilst also looking to the future. KPMG has the depth of expertise to help clients navigate the landscape to strive towards a prosperous future.