Banks and financial institutions are undergoing a revolution that presents three major challenges: pressure on traditional margin-generating activities, the disruptive impact of new technologies, and the need to adapt to regulatory changes.
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To meet customer expectations for transparency, customisation, innovation, and more cost-effective offers, new market entrants are transforming traditional business models with disruptive services such as mobile banking and biometric payments.
Additionally, regulatory changes are reshaping the market, compelling banks to enhance transparency in liquidity and risk management (Basel II, Basel III, IFRS 9) while ensuring data confidentiality. Banks must swiftly adapt their information systems to remain compliant, secure, and competitive. We believe that to avoid the risk of disintermediation and to cater to new banking service usage patterns, the role of consultants and other trusted third parties is becoming crucial for traditional players.