Innovation in Financial Services

Gaining the Collaborative Advantage in Banking

22 Jan 2014

Bankers have long sought a competitive advantage in a vast sea of largely undifferentiated competitors. For most players, and for most of the industry’s long history, the chief weapons in this war have been scale and localization. Either growing large enough to create economies of scale and/or scope, or trying to corner one or more local markets b...

Innovation in Financial Services

Five Shifts that Define the Future of Wealth Management

12 Feb 2013

Five massive foundational shifts are impacting financial service providers of all types, and they are impacting those that serve affluent clients in especially unique ways. According to a study by KPMG conducted in June 2012, 9 out of 10 banks are considering a serious overhaul of their strategy, and 40% say that wealth management and asset manage...

Technology in Wealth Management: Opportunity or Threat?

05 Feb 2013

Wealth management is an attractive business line for banks. Affluent clients hold higher balances, have lower credit default rates and utilize more fee-based services than the average branch consumer. No wonder forty percent of bank leaders surveyed by KPMG in June 2012 said that wealth management would be a critical component of their growth plan...

Innovation in Financial Services

Banks are Laggards in Research and Development

04 Feb 2013

Banks don't even show up on Booz & Co.'s Global Innovation 1000 spending report. They are lumped in to the "other" category of all industries except the top nine. All of the other industries combined only account for 2% of the $603 billion spent on research and development in 2011. Average R&D intensity, that is R&D spending...