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Benchmarking of 248 financial institutions
Are EMEA banks prepared for the new world of banking?
"Digital" is an oft-repeated mantra in banking that in the space of a few short years has progressed from the fringe to the core of banks’ strategic agendas.
This shift is visible in the annual reports of Europe’s 20 biggest financial institutions, where “digital” was mentioned an average of once per report in 2011 but 55 times per report in 2016. The reasons for this shift are clear: changing consumer preferences driven by technological advancement, competition from FinTech start-ups, and changing regulations, with the European Union’s Payment Services Directive (PSD2) coming into force in January 2018.
Inside Magazine issue 18, June 2018
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