Digital Transformation in European Private Banking

April 25, 2015

European private banks are battling reduced profits and the unraveling of bank-client confidentiality, which has long been the backbone of offshore private banking. Several factors including a wave of regulations following the global financial crisis, customers’ flagging trust in banking institutions and an increased demand for transparency are forcing banks to invest in rewiring their back-end systems to improve data management, analytics and reporting. Changing behaviors among customers are additional game-changers for European private banks, including the rise of tech-savvy, connected millennials, rapid adoption of digital technologies and demand for new kinds of services. A further challenge is posed by the rise of new competitors from outside the traditional banking sector that provide lower cost, transparent and tailored services powered by digital technologies, such as social, mobile, analytics and the cloud.

Spotlight

Eleven Financial Research

Founded in 2015, Eleven is an IRP (Independent Research Provider), with a mission to assist investors around the world to make the best investment decisions. By means of proprietary analysis, we cover the all Brazilian investment assets classes. Our team is guided by technical precision, discipline, and responsibility, with independent analysis lying at the core of our DNA.

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