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The effects of the downturn in the financial services industry

A changing industry landscape needs focus

Financial services

The credit crunch has created an unsteady environment for the financial services industry. Distrust in the global financial system has reached unprecedented levels, with each week bringing new developments. The landscape has changed significantly, with considerable drops in market caps for Dutch and international banks.

The landscape will change rapidly in the coming period. However, we cannot be certain how and when changes will unfold with movements in competition, regulation, risk appetite, funding mix and a simplification and transparency of product offering. Challenges will augment for FSI. Subsequently, good balance should be found in focusing on the external stakeholders –such as demanding rating agencies, possibilities in the mergers/acquisitions markets, satisfied clients, product innovation, pricing and market share - and internal challenges.

Aside from the credit crunch, the intensified competitive financial markets and increased regulatory requirements have caused substantial internal challenges. Compliance efforts were done in isolation, resulting in manual workarounds, unknown risks, inefficient technologies, and different interpretations of figures and high costs. The financial crisis is expected to set off even higher regulatory requirements within and across sectors.

In the short run actions need to be taken by you as CEO, CFO or CRO keeping your company healthy and competitive with a well balanced focus on solvency, liquidity and profitability.

Deloitte's approach
Deloitte is the ideal partner to help you navigate the downturn. Our industry expertise will be bundled to support you with an integrated approach to gain quick insight and to help you develop and execute a focused plan. Our integrated offering focuses on optimising your business portfolio, controlling costs, mitigating risks, optimising tax and improving cash flow and funding.

Why Deloitte?

  • We provide you with a complete analysis that assesses improvement opportunities within 2 to 4 weeks
  • We are a one-stop trusted partner that has all the expertise you need: one team, many perspectives funneled to one vision, one complete overview
  • We have the power to implement what we advise

Contact
If you would like to explore how Deloitte can help you  navigate the downturn, please contact:

Oscar Snijders
Mobile: +31 (0)6 20 25 20 88
Assistant: +31 20 582 53 13

Stefan de Kruijf
Mobile: +31 (0)6 12 01 14 59
Assistant: +31 20 454 70 20

 

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