Crisis and new paradigms, "work in progress" in Financial Services

The Italian situation in the Financial Services area is going through a particularly tough period, characterized by:

• The slowing of the country’s operational efficiency, due to external events
• The management "dilemma" between the issue of the ownership asset and operations
• Difficulty in the market penetration and in the differentiation of sales propositions
• Difficulty in finalizing operations aimed at supporting the organic growth, due to the uncertainty of the period
• Difficulty in attracting and retaining the best talent, especially in commercial roles
• Difficult to monitor and act on meeting customer needs and to strengthen relations with them
• Low level of investment (especially in 2010 and 2011)

Do not underestimate also the regulatory pressure to which this area is subjected. In recent years there has been, and there is still, a continuous evolution of the regulatory framework which requires fundamental restructuring in terms of processes, a fundamental reassessment of the relationship with customers, increasing attention to risk monitoring and, for banks in particular, to credit quality.

The degree of change required is obvious, but the obtainable benefit are equally evident: if contingent issues are managed with perspective, this can create the conditions for long-term competitive advantage. And this is the time to strengthen the tools controlling processes and performance, marketing and communications.

SDG - Financial Services is at the forefront, alongside its customers, to concretely and effectively translate and implement these challenges. We will keep you updated on this topic through this blog!