Elements for success
Redefining success for financial institutions in a transformed industry
Almost four years after the global turmoil of the financial crisis and the worst global economic downturn of recent times, financial services companies are striving for success in a continually changing industry. Whether looking to remediate, restructure, comply, recapitalize or grow, these companies need to generate success on multiple fronts.
Success for financial services companies must be achieved across numerous areas: in compliance, in cost structures, in customer satisfaction, in innovation, in operating models, or in return on equity, just to name a few. Success in each of these areas will help determine the overall success of the organization.
While these areas impact all aspects of the business, they fall into a set of common themes which each business must address: restructuring, returns, relationships, reporting and risk management. These five elements for success are affecting the decisions made in all areas of business and are driving corporations to leadership positions within the market.
To shed some light on these topics, the Deloitte Touche Tohmatsu Limited (DTTL) Global Financial Services Industry (GFSI) group conducted a survey of more than 120 financial services executives from around the world, the results of which are presented in this report. In this survey, the executives revealed the impact that the changing regulatory environment and the ever-changing financial landscape are having on operational decisions. The report looks at how banks, securities firms, insurance companies, and investment management firms are addressing the five elements for success.
As the industry continues to evolve, the DTTL GFSI group is committed to providing insight on the issues most important to global financial institutions. The aim of Deloitte member firms’ FSI practices is to help guide clients though challenging times and provide the insights that are required for success with these elements.