As we are approaching more into 2015, it is expected that the US banking sectors may finally rise at the point of boosting profitability, taking off its post-crisis journey. So it is needless to say that now it is the prior task for every MBA students who have Banking and Finance integrated into their syllabus, to understand the whereabouts of the emerging trends of banking industry.
Projections from finance experts vary widely as all of them are trying to make out the possible ways to overcome these crises. Here I have summed up an overview of the five trends outlining chief priorities for banks.
Achievement in Balance Sheet Efficiency: To achieve balance sheet efficiency in 2015, banks can consider increasing their customer relationship programs and cross-selling efforts. Investing in product lines that draw steady deposits can also help achieving balance sheet efficiency.
Improvement in M&A Market: There is a prospect in improving M&A market. Here banks must consider viewing M&A targets based on factors such as efficiency, growth prospects, funding profile, technology, and compliance. Engagement with regulators is also advised.
Prioritizing Growth: Strategies in growth will vary by bank size and business line. Still banks can think about empowering customer analytics, influencing digital technologies to promote customer experience in both business and retail banking and determining whether or not cautious endorsement standards are overlooked.
Transformation of Payments: Putting payment transformation information into use banks can influence their role in the payment network. Banks can consider seeking inventive ways to leverage customer spending data for promotions and services and also looking for innovative ways to be top of wallet.
Integrated Compliance and Risk Management:
In order to integrate risk management, compliance, and ethics into banks’ culture, banks can consider to strengthen a strong “tone at the top”, support boards to challenge senior management’s activities and allow chief risk officers to perform collaboration with business lines.
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