Globally, retail banks are entering a new era. The challenge remains to keep the customer experience and wider brand perceptions central to all strategic thinking.
With the advent of mobile money services, the nature of money itself is changing. Mobile money represents greater convenience to end users as payments move away from paper transactions.
The World Payments Report 2011 looks first at the global and regional trends in payments volumes; then outlines the potential effects of various regulations and industry initiatives on payments; before exploring how those trends are driving industry transformation.
In 2010, many global financial markets performed well, albeit growing at more modest rates than the sharp rebounds seen in 2009 after 2008's staggering losses. The number of HNWIs and their wealth also grew moderately, with HNWIs remaining more conservative than before the crisis but willing to be opportunistic in seeking yield.
This report provides a view of the significant demographic, economic, social and technology trends amd forces that will affect the financial services industry over the next decade.
In the aftermath of the financial crisis, retail banks around the globe are struggling to make a positive impression on customers. Differentiating on price and product innovation is becoming increasingly difficult, and firms face the added complications of changing customer preferences and increasingly stringent regulations.
In a time of accelerating change, Canadian banks have done far more than what's necessary to survive over the past year.
KPMG's 'Insights into Canadian Banking' addresses a number of post-crisis challenges and opportunities faced by Canadian banks today.
The recent credit crisis has transformed the financial services marketplace through the formation of larger institutions with broader footprints and a wider set of products to offer small business customers and consumers.
Despite the challenging international macrofinancial environment the Canadian financial system remains relativley strong.
The survey findings highlight the intricate relationship of the consumers' converged existence, and how mobile devices are extensions of their online persona. The responses indicate technology and mobile convenience are edging out consumer concerns over privacy and security. More than 90% of the respondents rank security and privacy as troubling issues. Yet, despite their anxieties, they are pressing ahead with convergence because the benefits are simply too good to pass up.
The world's population of high net worth individuals (HNWIs1) grew 17.1% to 10.0 million in 2009, returning to levels last seen in 2007 despite the contraction in world gross domestic product.
In light of these new market realities, the landscape for card services will almost certainly be very different in Canada in the future - and only those organizations capable of anticipating and adapting to the changes will emerge as winners.
Bank ranks last in a CFIB poll measuring services for smaller businesses, while credit unions earn top grades.
This year's report provides bankers with an overview of the challenging but critical small business market, proposes a winning model to overcome today's risk management and development challenges, highlights the major benefits of this model, and suggests practical next steps to reach and implement it successfully.
Bank ranks last in a CFIB poll measuring services for smaller businesses, while credit unions earn top grades.
A project set up to examine the causes and consequences of poverty in three of the poorest areas of the country; Vancouver's downtown eastside, north-end Winnipeg and the Parkdale region of Toronto. The project also looked at ways to foster financial inclusion & greater financial capability from community organizations, financial service providers and governments.
In a year marked by the worst financial crisis in generations, Canada's six largest banks earned strong results and the continued confidence of Canadians
