More than 460 banking experts took part in Fraunhofer IAO’s Banks & Future 2013 trend survey. According to the respondents, the biggest challenge stems from the current politically induced, historically low interest rates and their impact on banks and financial service providers. The survey also reveals the measures being implemented by banks to counter this volatile market situation.
Fraunhofer IAO conducts an annual survey in which banking and finance executives identify the trends they consider key to the future of banking. This year’s survey drew a response from more than 460 directors, managers and decision-makers representing all major banking groups and financial service providers in the German-speaking countries of Europe.
They were asked to assess the difficulties they currently face, and strategic areas of future investment. A detailed analysis was made of general market trends, developments in the banking sector, and measures envisioned by banks in 2013 to deal with the present challenges.
The responses to this year’s Banks & Future trend survey indicate that the current, volatile market situation and the fundamental changes affecting the banking sector are the source of some discomfort or even anxiety. Nonetheless, many of the respondents still see the long-term development of their business activities in a positive light. In the view of the participating institutions, the politically induced low interest rates are the greatest challenge today.
Many banks have not yet adapted to the dynamic pace of change in the business environment, and are insufficiently prepared to compete in the fierce battle to attract new customers. They urgently need to develop their capacity to innovate and respond rapidly to the demands of the marketplace. If they continue with “business as usual”, they run the risk of being displaced by competitors offering new, customer-centered solutions that will whittle away the banks’ profits still further. To stay in business, banks must focus on their traditional strengths while at the same time redefining their strategy.
The results of the survey will be presented for the first time during the Banks & Future conference and workshop in Frankfurt am Main on September 17 and 18, 2013 (conference language: German). Employees of banks and financial service providers are warmly invited to register for this event by clicking on the link below. Attendance is free of charge, and the closing date for registration is September 6, 2013. More information on the work of the Banks & Future Innovation Forum is provided (in English) on the website.
Juliane Segedi | Fraunhofer-Institut
Blockchain Set to Transform the Financial Services Market
28.09.2016 | HHL Leipzig Graduate School of Management
Paper or plastic?
08.07.2016 | University of Toronto
Researchers from the Institute for Quantum Computing (IQC) at the University of Waterloo led the development of a new extensible wiring technique capable of controlling superconducting quantum bits, representing a significant step towards to the realization of a scalable quantum computer.
"The quantum socket is a wiring method that uses three-dimensional wires based on spring-loaded pins to address individual qubits," said Jeremy Béjanin, a PhD...
In a paper in Scientific Reports, a research team at Worcester Polytechnic Institute describes a novel light-activated phenomenon that could become the basis for applications as diverse as microscopic robotic grippers and more efficient solar cells.
A research team at Worcester Polytechnic Institute (WPI) has developed a revolutionary, light-activated semiconductor nanocomposite material that can be used...
By forcefully embedding two silicon atoms in a diamond matrix, Sandia researchers have demonstrated for the first time on a single chip all the components needed to create a quantum bridge to link quantum computers together.
"People have already built small quantum computers," says Sandia researcher Ryan Camacho. "Maybe the first useful one won't be a single giant quantum computer...
COMPAMED has become the leading international marketplace for suppliers of medical manufacturing. The trade fair, which takes place every November and is co-located to MEDICA in Dusseldorf, has been steadily growing over the past years and shows that medical technology remains a rapidly growing market.
In 2016, the joint pavilion by the IVAM Microtechnology Network, the Product Market “High-tech for Medical Devices”, will be located in Hall 8a again and will...
'Ferroelectric' materials can switch between different states of electrical polarization in response to an external electric field. This flexibility means they show promise for many applications, for example in electronic devices and computer memory. Current ferroelectric materials are highly valued for their thermal and chemical stability and rapid electro-mechanical responses, but creating a material that is scalable down to the tiny sizes needed for technologies like silicon-based semiconductors (Si-based CMOS) has proven challenging.
Now, Hiroshi Funakubo and co-workers at the Tokyo Institute of Technology, in collaboration with researchers across Japan, have conducted experiments to...
14.10.2016 | Event News
14.10.2016 | Event News
12.10.2016 | Event News
21.10.2016 | Health and Medicine
21.10.2016 | Information Technology
21.10.2016 | Materials Sciences