In the aftermath of the economic meltdown, banks and insurers are finding customers behaving more warily towards them. Customers are less trusting, less forgiving and have higher expectations about how banks and insurers do business. They expect to access services where, when and how they want, using new technologies.
As a consequence, financial institutions are increasingly subject to public scrutiny, with greater expectations of good or best practice governance since the global financial crisis.
Financial institutions therefore need to adapt their governance structures to the changing expectations in order to drive new compliance and performance capabilities and new organizational resilience.