Europe’s leading banks and insurers are fighting a battle against seemingly insurmountable odds. With unpredictable economies and highly volatile financial markets, the European financial system is facing some of its toughest challenges. The financial world should be seeking to rebuild trust and confidence, rein in costs, focus on core businesses, absorb regulatory demands, increase lending and de-risk the balance sheet, all while delivering improved shareholder returns.
Against this background of an unpredictable future, how can they restore trust through offering improved products and services, which could incur extra costs, while fighting to boost returns to shareholders through increased profit?
Looking to the future, it is becoming clear that, fundamentally, the financial services are moving in a new direction and the idea of what constitutes ‘normal’ performance is changing.