Banks in the developed markets hit by the crisis in recent years have struggled to grow revenues consistently. In the new landscape – emerging in the wake of the turmoil –banks in Europe and America have recovered a degree of stability and are returning to moderate profitability. These changes have led to an increased volatility and a difficult trading environment in Europe and the US. Banking stakeholders, governments, regulators and the public are all demanding disruptive changes and require a sustainable recovery.
Over the past three years, Accenture has been conducting a study called Banking 2012. This study examines the basic levers increasing banking profitability and the operating models required to deliver sustainable profitability in the new environment.
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Growth is back on the agenda for banks. The focus for banks globally is moving to revenue and the customer. Cost-cutting remains a major priority, but higher shareholder value cannot be delivered by pruning cost alone. Yet in developed markets, expanding the customer base is likely to be difficult and expensive. Therefore growth depends on the ability to derive more revenue from the existing customer base and to do so cost effectively.
Marketing, customer segmentation, and continuous monitoring of customer needs are key areas where leading retailers are able to distinguish themselves. The best retailers in the world are sharply focused on understanding what happens in the head of their customer relationships. Relevant customer insights make it possible to provide exactly what their customers want and how they want it.
