Evolving financial services models

Evolving financial services models

The financial services industry going through significant regulatory.

The financial services industry going through significant regulatory.

"The financial services industry is going through the most significant regulatory changes in half a century." - Jeremey Anderson, Global Head, Financial Services

Working with the financial services industry to create more sustainable business models.

Regulators are pushing banks to improve their capital positions and to change their operating structures to address ‘too big to fail’ concerns. With hundreds of new regulatory initiatives at various stages of implementation, KPMG member firms are helping clients to understand the impacts on their business, and determine how their business models need to change to better meet the needs of all stakeholders – customers, regulators, policymakers and shareholders.

Bringing multidiscipline expertise

These aren’t incremental changes, and helping a client to rethink their business model requires a broad range of disciplines, including regulatory specialists, to strategists, operations and project management. Typically it will also require subject matter experts in technology and governance, as well as culture change and training. These are all areas of expertise that KPMG member firms bring to bear.

KPMG Regulatory Centers of Excellence across the Americas, Europe, and Asia bring together our rich experience so our firms can give clients a unified view of regulatory requirements. That way, at the outset, clients see the broad regulatory landscape, not just specific elements.

Enabling better use of data

One of the areas we are most focused on is helping clients better control their data, particularly for regulatory reporting purposes. Collecting, managing and processing data is increasingly dominating the banking agenda. We are helping banks to meet more stringent regulatory requirements that increasingly demand data related to risk and stress testing.

Better use of data is also central to helping banks’ improve the customer experience. Customer expectations have changed – they want instant access to information, and expect their bank to understand their needs and the services they are using. Banks who can use customer data to create value for the customer will be the ones that will win the all-important battle for the customer.

Striving to create more sustainable business models

Every financial institution today is rethinking the way it operates – balance sheets, governance, products, technology and data are all parts of the equation. Addressing all of these elements in a change program to get from where they are today to a more sustainable business model is what financial services specialists with KPMG firms are helping clients to do.

 
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