The Italian Financial Services Market competitive arena

Powerful forces are reshaping the financial services industry globally. Customer expectations, macro- economic trends, technological capabilities, regulatory requirements, demographics and economics are together creating an imperative to change. The Italian market is not immune from this process.

Financial institutions need to get ahead of these challenges and retool to win now and beyond. They must not only execute on today’s imperatives, but also transform themselves for the future.

Disruptive new entrants are gradually winning share by offering innovative customer experiences through new products and channels.

The future will require financial institutions to be agile and open, ready to explore different options in an uncertain world. Financial institutions have developed staggeringly complex and costly business and operating models. Now they must simplify.

Leading players will have to develop a much more complete understanding of their customers and reduce their product set, and so deliver a better customer experience with lower levels of operational risk than today.

Customers now generate exponentially more information than ever before. Winning financial institutions harness both structured and unstructured information – from traditional and new sources of information such as social media, and cross-channel bank customer interaction data.