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Global banking outlook 2018: pivoting toward an innovation-led strategy

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Banks are seeking to become digitally mature, completing the transition from regulatory-driven transformation to innovation-led change. EY’s Global banking outlook 2018 survey provides actionable insights for banks as they prepare.

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Global banking outlook 2018: pivoting toward an innovation-led strategy

  1. 1. Global banking outlook 2018 Pivoting toward an innovation-led strategy ©2018EYGMLimited.AllRightsReserved.EYGno.01138-184GBL.EdNone. 2 To prepare for innovation-led change, download the full report: ey.com/bankinginnovation % of banks expecting to achieve digital maturity: in 2020 62%in 2018 19% in 2020 64% in 2018 57% Banks’ top priorities for protecting the business: As global economic growth continues, bankers remain optimistic, but ... Costs and competitive challenges remain ... Along with evolving risks. Digital maturity and technology will drive success. Return on equity (ROE) 60% % of banks expecting cost increases: FinTech adoption of nonbank money transfer services (as a % of all available services) Cloud technology Data and analytics Mobile technology Revenue % of banks expecting increases over the next three years: 85% 80% 18% 50% of banks will increase existing investments in: 83% Enhance cyber and data security Comply with consumer regulations Manage the threat of financial crime Manage reputational, conduct and cultural risk 89% 79% 78%78% 1 3 4 • Invest in technology and talent to support a digital business • Prepare for innovation-led change Banks are seeking to become digitally mature, completing the transition from regulatory-driven transformation to innovation-led change. Our survey reveals why and how banks must act to: • Respond to cost and competitive challenges • Manage emerging risks 2016 2017 EY FinTech Adoption Index 2017, EYGM Limited. of banks cite recruiting, developing and retaining key talent as a top business priority.

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