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Challenges for investment banks 2017 (Part 1): How to prune for growth and distinctiveness

Beat Monnerat, Senior Managing Director of Financial Services for Asia Pacific; Owen Jelf, Senior Managing Director for Capital Markets; Accenture | Jan. 20, 2017
In this 10-part series, Accenture identifies challenges facing investment banks this year. In Day 1, the firm looks at how banks can differentiate and grow their business

In addition, CIOs need to be able to answer the practical question: how does digital really help? There is still a level of cynicism that it's often just more technology for technology's sake. But digital solutions that integrate products and offerings from different elements of the business -- from research to wealth management to trading -- in a unique and differentiated way for their own clients could be the way to grow the business with technology. 

The journey ahead

The decisions aren't black and white. A select few players might still conclude they can truly excel at the core; others might move closer to an investor-, corporate- or platform-driven business model. The largest players could combine multiple elements, while the smaller ones will likely need to focus. The bottom line is that banks will need to pair further pruning with a strategy that identifies a clear direction and additional pockets of value. Reinvention will continue, and the IT team will be players who need to be at the decision making table as new strategies are identified.

 

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