According to EY’s report - Building the bank of 2030: top eight global trends -, "the financial and sovereign debt crises jolted the global banking industry from a period of relative calm and prosperity into one of great uncertainty. As the shock wears off and the industry adapts, key themes are emerging that will affect banking business models for decades.”
The challenges include globalization, emergence of new business models, increased competition in new markets, and new financial products.
The Insurance industry has some room to further expand and thrive, especially in Latin America and Asia, and at the same time insurance companies need to control their costs, to improve their underwriting performance and profitability.1
Being able to centralize data into one PPM application is crucial to get visibility and to tackle globalization challenges and innovation pressures. Check how our users are tackling globalization and performance challenges.