Digital cross-border Wealth management
‘Digital’ has been a common buzzword for several years now, but subject to a wide range of interpretations in terms of impact and debate regarding the ways of developing a so-called digital strategy in banks.
When crossing borders, do you know and comply with all regulations, anytime and anywhere?
Given its size, its location at the heart of Europe and its multicultural workforce, Luxembourg’s financial center naturally relies on and promotes cross-border business. This is particularly true for the wealth management and private banking industries, which should now focus on rethinking their approach to cross-border opportunities.
It is no secret that financial institutions are facing a challenging environment. Compliance with new regulations is driving the CEO’s agenda in the present and affecting the traditional way of doing business. As a result, banks and wealth managers need to reassess what they do and how they do it.
Institutions are adapting to industry challenges in a variety of ways, for example by cutting costs, changing their operating model, seeking access to cross-border markets, undertaking digital transformation or focusing on new customer segments. In this context, a key topic to be addressed is how institutions can benefit from crossborder opportunities to expand beyond their current business model (regions, clients, products and services, interaction channels and pricing approach) while minimizing their expenditure.
Inside magazine issue 12, June 2016
Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.
Inside focuses on the main hot topics relevant for the market (Asset management, Banking, Insurance, Public sector, Healthcare, Private equity, Real estate, TMT, Manufacturing and consumer business, Transport and logistics).