EXAMPLES OF CHALLENGES FACING BANKS AND CREDIT INSTITUTIONS

Macro

Macro

Domestic regulation, global standards
Emerging vs. legacy demographics
Transparency of information
Mobile platforms

Industry

Industry

Higher capital requirements
Compliance costs
Threat of non-traditional entrants
Low rates = reliance on fee income
Consolidation and integration

Customer/Client

Customer/Client

Older customers: branch banking
Younger customers: mobile
Omnichannel service delivery
Extreme price sensitivity (free)
Mistrust of financial institutions

Technology

Technology

Legacy IT systems
3rd party applications
P2P payments
Branchless banking
Cryptocurrencies
Crowd funding

COMMONWEALTH BANK, GM COMMUNITY & SUSTAINABILITY

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Karrikins Group: Business Growth Strategy Consulting

 

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