Trend survey “Bank & Zukunft”
More than 365 decision-makers from the banking sector took part in the Bank & Zukunft 2014 trend survey. In rating current challenges and developments, their responses reveal that banks are generally optimistic about the future. The biggest challenges remain the difficult interest rate situation and how to implement consistent, customer-oriented service.
Once a year as part of the “Bank & Zukunft” trend survey series, Fraunhofer IAO polls executives and decision-makers from the banking and financial sector. The aim of the survey is to canvass opinion about current developments and trends in the banking market. Despite the present difficult market situation, the majority of banks in German-speaking countries are expecting business to head in a generally positive direction over the coming years. Nevertheless, the biggest challenge facing banks’ decision-makers is the prevailing preference of policymakers for keeping interest rates low. It remains to be seen just how long banks’ traditional business models for private customers can hold up before they start losing their grip on further key areas of revenue.
Rather than shying away from these challenges, banks are this year once again showing renewed dedication to customers and customer management. However, the survey’s findings reveal that although banks are indeed focusing on customer management, they still remain unwilling and unable to implement compelling customer-oriented service. Customer focus extends no further than getting customers actively involved in both business processes and innovation management – an area in which banking still lags other sectors. In the “Bank & Zukunft” innovation forum’s new publication, Fraunhofer IAO highlights ways in which banks can change this situation while at the same time tapping new sources of revenue.
The study’s findings suggest that bankers are still failing to look beyond their own operations and market. As a result, many do not yet consider the growth in financial service start-ups as any real threat. Time will tell how long this point of view can be maintained.
This year’s trend survey also points out what measures are in the pipeline, as well as areas and levels of investment for over-the-counter business, direct sales and IT management.
Concluding the “Bank & Zukunft 2014” trend survey is look ahead to various developments relating to “Bank 2025.” For more detailed information on the survey and on the “Innovationsforum Bank & Zukunft” collaborative research project, visit www.bankundzukunft.de or get in touch with the contact person.
The basis for all work undertaken at the Fraunhofer IAO is a deep conviction that business success in a globalised arena is contingent on an ability to profitably leverage new high-tech potentials. In order to optimally exploit these opportunities, companies must be capable of developing and implementing customer and employee-oriented technologies faster than their competitors. Work organisation concepts must be simultaneously innovative and anthropocentric. A systematic design, in other words, is the outcome of pooled management and technical expertise. This holistic perspective when it comes to project processing ensures that equal consideration is given to commercial success, employees' interests and social consequences.
Through its close cooperation with the Institute for Human Factors and Technology Management (IAT) of the University of Stuttgart, Fraunhofer IAO unites basic university research with applied science and business practice.
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