With populism on the wane, what’s the upshot for the markets?
Symbiosis. Your bank has your trust, can fintech make you love it?
Rather than hand-to-hand combat, banks are learning to love fintech in the hope that it will lead us to love our banks, too. This strategic U-turn by traditional banks has been quick—less than 12 months. However, building a loving, symbiotic relationship may take a little longer. We surveyed 200 global banking executives to investigate the challenges retail banks face in the years to 2020 and how they are responding.
The Economist Intelligence Unit, on behalf of Temenos, surveyed 200 global banking executives to investigate the challenges retail banks face in the years to 2020 and how they are responding.
Some key findings:
With US President Donald Trump quickly making good on campaign promises to end or renegotiate the country’s participation in major trade deals, and Brexit calling European integration into question, free trade has fallen out of fashion across much of the developed world. President Trump’s pledges to slap punitive tariffs on exports from countries like China and Mexico have also raised the spectre of a broader trade war. Yet some experts see reason for optimism - and an opportunity for Asia to fill the void left by the historical advocates of trade liberalisation.
MORE THAN TWO-THIRDS OF CRISIS MANAGERS BELIEVE THE WORLD WILL BECOME A RISKIER PLACE TO DO BUSINESS IN THE NEXT THREE YEARS
Watch Mike McGavick, CEO of XL Group, as he talks about the following topics:
- Challenges for insurers
- Managing data complexity
- Regulatory change
- Sustainable investing
In this video sponsored by BNP Paribas, Chris Hitchen, Chief Executive of RPMI, shares with us his views on the following topics:
The survey sample includes members of the millennial cohort, Generation X and baby boomer generations. About 58% of respondents are male; nearly half have completed or are in the process of securing a four-year college degree or higher qualification; and nearly 90% work full-time. Slightly more than half live in suburban areas, and nearly two-thirds have been union members for ten years or longer.
The following are key findings:
- By a factor of five to one, these executives believe that the world became a riskier place in 2016.
- Cyber-attacks now account for 57% of major crises -- larger than all other types combined.
- 67% believe that the world will become an even riskier place to do business in 2017-20.
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