Global Banking Outlook 2017 (Ernst & Young Global Research, 2017)

The 2017 Ernst & Young Global Research Banking Outlook Survey of senior executives at almost 300 banks across the globe, indicates that risk and regulation will continue to dominate management’s agenda over the next 12 months.

Leading banks are looking beyond compliance to optimize their businesses and improve financial performance.

Uncertainty is no excuse for inaction. The report recommends that banks should take steps to  “keep customers safe” and “make things better for their customers.”

Global Banking Outlook 2017 (Ernst & Young Global Limited, 2017)

Build a Partner Ecosystem

(FinTech, Tech Giants, other Banks, and Open Vendors)
  • Banks will become increasingly dependent on an ecosystem of providers to drive innovation and implement change.
  • The key to the success of Banks will be to build a better ecosystem, not a bigger bank.

Be Bold and Change

  • (1) Shrink legacy.
  • (2) Build a high quality ecosystem with partners.
  • (3) Move beyond incremental adjustments to effectiveness of implementation and execution of innovation.
  • (4) Make extensive use of industry utilities and a diverse range of partners to deliver better services, drive out cost, manage risks and help protect the organization.

 Four Potential Future Business Models