In the issue we address the complex financial services landscape and some of the principal transformation issues senior executives are struggling with today. The G20 meeting in Brisbane in mid-November set the broad context for economic reform and further financial services regulation. We look at some of the key items on their agenda, review the results of the ECB’s stress tests of Europe’s biggest banks, and explore the implications of IFRS9.
In addition, we explore two contrasting facets of data management in financial services. Many would argue that managing data and all its ramifications, and extracting the most valuable and useful information from it, represents the biggest single challenge – and opportunity – facing the industry today. Closely connected are the systems underpinning both data management and transaction processing. We believe these are both complex and critical subjects facing financial services.
Articles featured in this edition:
Virtual currencies get real – This article defines what a virtual currency is and looks at some including Bitcoin and Ripple. Virtual currencies present both a threat and an opportunity to financial institutions. Regardless of readers’ position on this new market development, they would be well advised to watch this space closely.
Driving claims transformation: insurers ‘reclaim’ customer experience with digital tools – Insurers are beginning to test digital technologies to transform their claims processes, with the potential to elevate the customer experience, lower costs and confront rising fraud and catastrophe losses.
Data: an integral driver in transforming the operating model – With the investment management industry at a critical stage, radical new operating models can give companies the agility to grow margins and manage costs, while keeping regulators happy.
This issue also includes articles on Rethinking the finance off shoring model, Stress testing the Asset Quality Review, Cyber insurance: A market matures, Automation and risk: Understanding and managing complex interactions and our Regulatory roundtable on the G20 summit: Time for reflection on the financial services agenda.