It’s no overstatement to say that the legacy of the financial and economic crisis continues to strongly impact banks’ performance across the world. Banks are still subject to significant uncertainty and their customers’ trust and loyalty is at an all time low. To turn the tides they need to rebuild profitability and reboot shareholder value by driving growth in their core businesses.
In the race towards the future some banks are already taking a clear lead. Recent published Accenture report “Winning in the New Banking Era” examined the common characteristics and principles these leading banks share, and identifies seven key “strands” that create a foundation for achieving growth and reigniting shareholder value. Below I will discuss 3 out of 7 characteristics (as seen in the visual) in more detail.