Financial Services Focus 2015
Navigating the challenges and opportunities
In 2015 the financial services industry will continue its focus on how best to evolve the customer relationship given the backdrop of continued disruption and ongoing political and regulatory uncertainty
While there are many things at play across the sector, customer, disruption and regulation are high on the agenda this year.
The good news is that there is easy money globally, strong US growth, and falling commodity prices, which despite the short term impact on Australia, are all translating into lower bills and rising spending power for Western consumers.
In the context of the global economy and the significant work that’s been undertaken by Australia’s financial institutions since the Global Financial Crisis – both imposed and voluntary – we believe that this year the industry is poised to take advantage of these shifts.
In this report we consider five areas of focus for changing and improving the customer relationship and experience, and outline the opportunities and challenges of upcoming regulatory change, including the risks of conduct, culture, reputation and cyber security.