Industry Investment Rating - The report highlights a strong focus on digital transformation and sustainability, indicating a positive outlook for industries adopting these trends [2][5][11] Core Report Viewpoints - The report emphasizes the shift towards Equipment-as-a-Service (EaaS) and embedded finance as key drivers of industry transformation [2][5] - Digital platforms and B2C expansion are identified as critical for scalable growth and enhanced customer engagement [7][106] - Green asset financing and sustainability are reshaping the investment landscape, with a focus on eco-friendly assets and regulatory compliance [11][12] Trend Summaries Equipment-as-a-Service (EaaS) - EaaS is driven by digitization and demand for customized solutions, offering operational efficiency and customer value through equipment, digital tools, services, and OEM know-how [2] - The auto finance industry has seen early adoption of servitization, with mobility-as-a-service and connected cars becoming popular offerings [2] - EaaS requires business transformation, including better asset management, agile billing, and technological agility [2] Embedded Finance - Embedded finance integrates financial services seamlessly into the purchase process, enhancing convenience and accessibility for customers [5] - The rise of digital platforms and APIs has accelerated the adoption of embedded finance, particularly in equipment leasing [5] - Companies like HP and Lenovo are integrating leasing options directly into their e-commerce platforms, offering flexible financing plans [68] B2C Channel Expansion - Advances in digital technology enable leasing companies to create robust online platforms, expanding their reach to a broader audience [7] - Embedded finance allows for seamless integration of financial services into digital interfaces, improving customer experience [7] - Traditional B2B-focused leasing companies are now investing in digital infrastructure to scale B2C operations profitably [7] Green Asset Financing - Green asset financing is driven by rising environmental awareness and customer demand for sustainable investments [11] - Investments in electric vehicles, solar panels, and energy-efficient machinery are contributing to a greener economy [11] - Regulatory incentives, such as tax credits and green bonds, make green financing cost-effective for companies [11] Digital Transformation - Data-driven decision-making and AI are central to digital transformation, enabling better customer engagement and risk management [84] - Companies like John Deere and Hitachi are leveraging AI and IoT for predictive maintenance and flexible consumption models [85] - Simplifying and standardizing processes across geographies is essential for scalable AI and ML implementations [87] Balancing Automation with Human Expertise - Automation through AI and ML is effective for repetitive tasks, while human expertise remains crucial for complex decision-making [131] - Combining automation with human oversight enhances efficiency without losing the personal touch in customer interactions [131] - Companies like Caterpillar and Rolls-Royce are using AI to monitor asset performance and optimize maintenance schedules [88] Regulatory Landscape - The EU and US have differing regulatory environments, with the EU leading in cohesive sustainability frameworks and the US facing a fragmented approach [98] - Financial institutions must invest in systems to meet rising compliance costs from ESG, risk management, and data protection regulations [98] - Lenders are prioritizing financing for low-emission, sustainable assets to align with regulatory requirements and capitalize on green finance opportunities [98]

Industry Investment Rating - The report highlights a medium to high business impact for the financial services industry in 2025, particularly in areas such as customer experience, operational efficiency, and regulatory compliance [6][25] Core Industry Trends Customer Experience Transformation - Wealth management firms are focusing on seamless digital experiences, hyper-personalized advisory services, and bridging generational gaps to cater to high-net-worth individuals (HNWIs) of all ages [5][12][19][20] - Digital platforms are being enhanced to consolidate services, improve client retention, and accelerate onboarding processes [13][14][15][16] - AI-powered tools are enabling personalized investment advice, tax optimization, and portfolio rebalancing based on client life events [31][34][35] Operational Efficiency and Innovation - Wealth firms are adopting cloud-native platforms to scale workflows, reduce costs, and enable efficient wealth management processes [12][89][90] - Generative AI is being leveraged to automate repetitive tasks, freeing relationship managers to focus on client interactions and strategic activities [72][81][82] - Real-world asset tokenization is improving liquidity and accessibility for assets like real estate and investment funds through blockchain technology [73][85][99] Regulatory and ESG Compliance - Wealth firms are implementing ESG asset transparency metrics to comply with evolving regulatory standards, such as the EU's Corporate Sustainability Reporting Directive (CSRD) [58][60][74] - Digital onboarding solutions are being used to enhance compliance, reduce penalties, and streamline client acquisition processes [62][63][75][76] Inorganic Growth Strategies - Wealth management firms are pursuing mergers, acquisitions, and partnerships to expand services, enter new markets, and boost revenues [40][42][55] - The industry is seeing a surge in M&A activity, driven by demographic shifts, regulatory changes, and the need for sophisticated investment products [55][56] Sector-Specific Insights Wealth Management - Firms are unifying operating models to deliver consistent experiences for HNWIs across geographies, enhancing scalability and operational efficiency [66][67][79][80] - AI-driven tools are being used to improve relationship manager productivity, with 67% of their time currently spent on non-core activities [81][83] Payments and Retail Banking - Open finance and instant payment adoption are reshaping the payments landscape, with innovations like multi-rail payment strategies and cross-border payment corridors [5][10] - Retail banks are focusing on financial literacy, next-gen banking, and operational resilience to attract younger customers and ensure regulatory compliance [5][10] Capital Markets and Lending - Capital markets are adopting DLT and tokenization to modernize systems and improve capital efficiency [22][73] - Lending institutions are transitioning to Equipment-as-a-Service models and green asset financing to align with sustainability goals [22] Key Industry Players - Firms like UBS, Bank of America, and Morgan Stanley are leading the way in digital transformation, AI adoption, and ESG compliance [17][45][51][96] - J P Morgan and Deutsche Bank are pioneering blockchain-based solutions for asset tokenization and cross-border payments [86][87] Future Outlook - The financial services industry is expected to continue its digital transformation, with significant investments in AI, cloud platforms, and blockchain technologies [72][89][90] - ESG compliance and sustainability reporting will remain critical, with regulators pushing for standardized metrics and transparency [58][60][74]

Industry Investment Rating - The report does not explicitly provide an overall industry investment rating, but it highlights significant trends and opportunities in the retail banking sector that could influence investment decisions [1][4][5] Core Report Viewpoints - The report identifies three broad themes for 2025: Customer First, Enterprise Management, and Intelligent Industry, focusing on transforming customer experience, operational efficiency, and leveraging modern digital solutions [3][4][5] - Retail banking trends emphasize omnichannel experiences, financial literacy, operational resilience, and AI-driven efficiency gains [6][11][12][42][74] Retail Banking Trends Customer First - Omnichannel experience: Retail banks are enhancing customer journeys across digital platforms, contact centers, and branches to create seamless interactions [11][18][20] - Financial literacy: Banks are leveraging apps and educational programs to boost customer confidence and promote financial inclusion [24][27][29] - Next-gen banking: Retail banks are targeting younger customers with tailored services to secure long-term growth [32][35][36] Enterprise Management - Operational resilience: Digital operational resilience is critical for regulatory compliance, with banks investing in cybersecurity and IT security measures [42][45][46] - RegTech for compliance: Intelligent RegTech solutions are reducing compliance costs and timelines, helping banks manage escalating risks [52][55][56] - Deposit growth: Deposit growth remains a priority, with banks focusing on lowering funding costs and targeting specific customer segments [59][62][63] Intelligent Industry - AI for efficiency gains: Artificial intelligence is driving productivity by reimagining customer and employee journeys, with banks investing in AI-powered tools [74][77][78] - ESG product strategy: Banks are implementing intelligent ESG product strategies to meet regulatory demands and customer expectations [82][85][86] - Leveraging open finance: Open finance regulations are enabling banks to develop a 360-degree customer footprint, improving data access and personalized services [92][95][96] Case Studies and Examples - RBC Royal Bank and NatWest are examples of banks implementing omnichannel strategies to enhance customer experience [21] - Chase and Regions Bank are expanding financial literacy initiatives to underserved communities [30] - Barclays and Arab National Bank are enhancing digital security and operational resilience through strategic partnerships [50] - J P Morgan Chase and Commonwealth Bank are leveraging AI to boost employee productivity and loan processing efficiency [80] - Bank of Ireland and NatWest are integrating ESG data into their product offerings to meet sustainability goals [89][90]

Industry Investment Rating - The report does not explicitly provide an investment rating for the industry [1][2][3] Core Viewpoints - The Capgemini FS Top Trends 2025 report highlights three broad themes for the insurance sector: Customer First, Enterprise Management, and Intelligent Industry [5][7] - These themes focus on transforming customer experience, revamping enterprise processes, and leveraging modern digital solutions to enhance the value chain [7] Customer First - Insurers are focusing on omnichannel interactions and enhancing the value of products and services to improve customer experience [7] - Customer centricity is a key focus, with carriers rebuilding experiences and journeys around customers to maximize win rates, cross-sell, and up-sell opportunities [9] - Modern experiences are being revamped to increase engagement, win rates, and retention, with 55% of policyholders dissatisfied with claims and surrenders [21] - Gen AI is expected to revolutionize life insurance, with 73% of North American life insurers and 55% of EMEA life and health insurers ranking servicing and operations as a top-three impact area [21] Enterprise Management - Insurers are investing in cutting-edge underwriting platforms and high-speed pricing capabilities to stay competitive [9] - Legacy modernization is a priority, with 52% of life insurers facing challenges due to outdated technology [70] - Cloud-based CRM platforms are enabling personalized, multi-channel communications and improving operational efficiency [70] - Retention strategies are being developed to respond to changing customer behavior and economic landscapes, with 72% of consumers reporting significant impacts from high inflation [78] Intelligent Industry - Insurers are leveraging modern solutions to deliver end-to-end digital experiences, transforming the value chain from design to delivery [7] - Fortified security measures are being implemented to protect against data breaches and build trust, with 70% of financial services organizations reporting challenges in protecting customer data [85] - Claims processes are being enhanced with empathetic and intelligent investments to improve beneficiary experience and encourage reinvestment [92] - Advanced analytics and AI are being used to analyze claims data, minimize fraud-related losses, and streamline genuine claims [92] Life Insurance Trends - Life insurers are designing flexible, life goal-based products for younger consumers to drive the next wave of revenue [46] - Non-insurance services tailored for the silver economy are enhancing customer lifetime value, with 44% of affluent customers aged 50+ expecting such offerings [37] - Simplified onboarding processes are being developed using AI, Gen AI, and automated risk assessments to provide low-touch and personalized experiences [62] Sustainability - Sustainable product opportunities are growing, with innovative and eco-friendly debt instruments and insurance products gaining traction [10] - Financial institutions are incorporating ESG risk factors into their investment strategies and risk management processes [10] - Industrialized climate risk modeling is intensifying, with institutions assessing, managing, and disclosing climate-related risks to stakeholders [10]

Industry Investment Rating - The report does not explicitly provide an overall industry investment rating, but it highlights significant trends and opportunities across various sub-domains within the financial services sector, particularly in banking, capital markets, and sustainability [7][8][9] Core Report Viewpoints - The report identifies three broad themes driving the financial services industry: **Customer First**, **Enterprise Management**, and **Intelligent Industry**, focusing on transforming customer experience, operational efficiency, and leveraging modern technologies [5][7][8] - Key trends include the adoption of **Generative AI**, **DLT & tokenization**, **sustainable finance**, and **modernized resilient platforms** to enhance efficiency, compliance, and customer satisfaction [7][8][63][71] Banking Sector Trends Wealth Management - **Seamless digital experience**: Wealth firms are consolidating services on digital platforms to create seamless customer experiences [7] - **Hyper-personalized advisory**: AI enables tailored investment advice strategies, catering to high-net-worth individuals (HNWIs) across generations [7] - **Real-world asset tokenization**: Blockchain-powered tokens improve liquidity and access to assets [7] Retail Banking - **Omnichannel experience**: Retail banks are enhancing customer journeys across digital platforms, contact centers, and branches [7] - **Financial literacy**: Apps promoting financial literacy and personal budgeting are boosting customer confidence and inclusion [7] - **Next-gen banking**: Banks are targeting younger customers to secure long-term growth [7] Payments - **Open finance**: Regulators are improving financial data access, enabling growth in open-finance-based use cases [7] - **Instant payment adoption**: Instant payment rails are replacing checks and debit cards, while mobile wallets dominate [7] - **Cross-border payments**: Multi-territory instant payment corridors are revolutionizing cross-border transactions [7] Capital Markets Trends Key Drivers - **Perpetual KYC revolution**: Digitizing and automating KYC processes to reduce compliance costs and enhance customer experience [9][13] - **Accelerating sustainable lending**: Banks are leveraging green lending and sustainable finance as growth engines [20][23] - **Changing investment landscape**: Organizations are adapting to passive investing, retail investor growth, and geopolitical forces [31][34] Technology and Innovation - **DLT & tokenization**: Increased integration of distributed ledger technology and tokenization is transforming financial services [63][65] - **Generative AI**: Capital markets organizations are using Gen AI for actionable insights, efficiencies, and differentiation [71][74] - **Modernized resilient platforms**: Legacy system limitations are driving firms to modernize core systems for scalability and resilience [55][57] Sustainability Trends Sustainable Finance - **Green asset financing**: The need for sustainability is reshaping the investment landscape, with banks focusing on green lending and ESG-compliant products [8][20] - **Decarbonization of portfolios**: Stakeholders are prioritizing low-carbon investments to reduce carbon footprints [8] - **ESG risk criteria**: Financial institutions are incorporating ESG factors into investment strategies and risk management [8] Regulatory and Operational Shifts - **Increased regulation**: Enhanced regulatory frameworks are reshaping corporate accountability through rigorous ESG standards [8] - **Industrialized climate risk modeling**: Financial institutions are intensifying efforts to assess and disclose climate-related risks [8] Case Studies and Examples - **JPMorgan Chase**: Enhanced KYC operations through AI, aiming to process 230,000 KYC files by 2025 with 20% fewer staff [18] - **Barclays**: Committed to financing USD 1 trillion of sustainable financing by 2030, launching green bonds and climate advisory services [29] - **Euroclear**: Modernizing its settlement system, CREST, to enhance operational resilience and client value [58] Future Outlook - **Global accelerated settlement**: The drive for a global T+1 settlement cycle continues, with the UK and EU pushing forward with plans [81][84] - **Transaction reporting optimization**: Firms are focusing on efficiency and control following recent regulatory rewrites [92][95]

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Industry Investment Rating - The report does not explicitly provide an overall industry investment rating, but it highlights significant trends and opportunities in the Property and Casualty (P&C) Insurance sector for 2025 [2][4] Core Themes - The report identifies three broad themes for 2025: **Customer First**, **Enterprise Management**, and **Intelligent Industry** [4][6][7][8] - **Customer First**: Focus on transforming customer experience through omnichannel interactions and personalized products [6] - **Enterprise Management**: Revamping processes and operations to improve agility and cost efficiency [7] - **Intelligent Industry**: Leveraging modern digital solutions to transform the value chain from design to delivery [8] P&C Insurance Trends - **Customer Centricity**: Insurers are rebuilding customer experiences to maximize win rates, cross-sell, and up-sell opportunities [9][13] - **Policies in Force**: Personal line leaders are prioritizing growing policies in force over re-underwriting the book [9][17] - **Underwriting Workbenches**: Commercial line insurers are investing in advanced underwriting platforms for competitive advantage [9][36] - **High-Speed Pricing**: Insurers are building capabilities for rapid recalibration of risk models and pricing to keep up with market changes [9][44] - **Cost Take-Out**: Insurers are shifting operating models and technology strategies to achieve scaled efficiencies [9][55] - **Broker and Agent Engagement**: Carriers are driving distribution partner engagement through simple, fast, and easy experiences [9][62] - **Process Revolution**: AI and Gen AI are streamlining processes across the value chain [9][71] - **Strengthened Security**: Insurers are investing in security capabilities to protect against massive breaches [9][79] - **Value from Data**: Data estate renovations are making the right information available across the value chain [9][87] - **Niche Market Innovation**: Carriers are exploring innovative offers in cyber, pet, parametric, and other small markets [9][95] Health Insurance Trends - **Personalization through Partnerships**: Collaborations with hospitals and tech companies are helping insurers develop personalized care plans [9] - **Expanded Coverage**: Alternative care delivery is widening to include behavioral, virtual, specialty, and home health [9] - **Legacy Modernization**: Rising healthcare costs are driving insurers to digitize core systems for accessibility and affordability [9] Life Insurance Trends - **Modern Experiences**: Insurers are revamping customer experiences with modern capabilities to increase engagement and retention [10] - **Non-Insurance Services**: Value-added services for the silver economy are enhancing customer lifetime value [10] - **Advisory Capabilities**: Intelligent technologies are helping agents and brokers assess clients and personalize recommendations [10] Sustainability Trends - **Sustainable Product Opportunities**: Growth in eco-friendly debt instruments and insurance products is being observed [10] - **ESG Risk Criteria**: Financial institutions are increasingly incorporating ESG risk factors into investment strategies [10] - **Decarbonization of Portfolios**: Stakeholders are prioritizing low-carbon investments to reduce carbon footprints [10] Key Data Points - **Telematics Adoption**: 72% of commercial insurers offer or plan to offer telematics-based products [46] - **Natural Disaster Losses**: Economic losses from natural disasters reached USD 280 billion in 2023, with insured losses at USD 108 billion [46] - **Cyber Insurance Growth**: Expected to grow from USD 14 billion in 2023 to USD 29 billion by 2027 [97] - **Parametric Insurance Growth**: Projected to reach USD 29.3 billion by 2031, up from USD 11.7 billion in 2021 [97] - **Pet Insurance Growth**: Estimated to grow at a 14% CAGR from 2023 to 2030, reaching USD 18 billion [97] Case Studies - **State Farm**: Added an Accident Assistance feature to its Drive Safe & Save app, enhancing customer satisfaction [24] - **Zurich UK**: Reduced claim time to ~13 minutes and drove a 400% customer adoption growth through video and WhatsApp messaging services [24] - **Markel UK**: Partnered with Cytora to digitize underwriting processes, reducing quote turnaround time from one day to two hours [42] - **Aviva**: Partnered with hyperexponential to implement the hx Renew pricing platform, cutting build time by 75% [49] - **Allstate**: Adopted a cloud-first approach, cutting claim filing time from four minutes to 43 seconds [91]

Wealth Management - Seamless digital experience: Wealth firms are enhancing digital platforms to consolidate services and create seamless customer experiences [1] - Hyper-personalized advisory: AI enables made-to-order investment advice strategies, catering to individual client needs [1] - Bridging generation gaps: Wealth firms are adapting advice to resonate with high-net-worth individuals (HNWIs) across all age groups, especially younger entrepreneurs [1] - Inorganic growth strategies: Wealth firms are seeking external expansion to broaden services and boost revenues [1] - Regulations drive ESG traceability: Wealth firms are implementing ESG asset transparency metrics as regulators standardize sustainability reporting [1] - Digital onboarding: Digital onboarding accelerates client acquisition, improves compliance, and boosts revenue through white-labeling [1] - Unified operating models: Wealth firms are unifying operating models to deliver a consistent experience for HNWIs across geographies [1] - Gen AI for relationship manager efficiency: Generative AI-powered copilots enhance relationship manager productivity [1] - Real-world asset tokenization: Blockchain-powered real-world asset tokens improve liquidity and access [1] - Cloud-native wealth management platforms: Cloud-native platforms enable scalable and cost-efficient wealth management processes [1] Retail Banking - Omnichannel experience: Retail banks are boosting customer experiences across digital platforms, contact centers, and branches [1] - Financial literacy: Financial literacy and personal budget apps are enhancing customer confidence and promoting financial inclusion [1] - Next-gen banking: Retail banks are targeting youth to secure long-term customer lifecycle growth [1] - Operational resilience: Digital operational resilience remains crucial for regulatory compliance [1] - RegTech for compliance: Intelligent RegTech solutions reduce compliance costs and timelines [1] - Deposit growth: Deposit growth continues to be a priority for retail banks, along with lowering funding costs [1] - Onboarding efficiency: Digital identity management is improving onboarding efficiency [1] - AI for efficiency gains: AI is driving productivity by reimagining customer and employee journeys [1] - ESG product strategy: Banks are implementing intelligent ESG product strategies and solutions [1] - Leveraging open finance: Open finance regulations enable retail banks to develop a 360-degree customer footprint [1] Payments - Open finance: Open-finance-based use cases are growing as regulators improve financial data access [1] - Instant payment adoption: Instant payment rails are cannibalizing checks and debit cards, while mobile wallets maintain dominance [1] - POS innovations: POS payment innovations enhance merchant acquisition capabilities and increase consumer credit options [1] - Cross-border payments: Multi-territory instant payment corridors are revolutionizing cross-border payments, offering speed and efficiency [1] - Cloud-based payment hubs: Cloud-based payment hubs provide unified and consolidated multi-rail payment processing capabilities [1] - Multi-rail payment strategy: Multi-rail strategies enhance payment flexibility and offer different payment methods in a single interface [1] - Operational resilience: Regulators are prioritizing operational resilience to foster trust in cashless markets and economies [1] - Decentralized identity: Decentralized digital identity management combats fraud and grants customers greater control over personal data [1] - Remittance transformation: Remittance transformation is reshaping the global financial landscape with plummeting costs and fast transfer times [1] - Data monetization: Payments data is driving innovation and creating new revenue streams [1] Capital Markets - Perpetual KYC revolution: Organizations are digitizing and automating KYC processes to reduce compliance costs and enhance customer experience [3] - Accelerating sustainable lending: Banks are leveraging sustainable finance as a growth engine [3] - Changing investment landscape: The market is shifting due to passive investing, retail investor growth, and geopolitical forces [3] - Efficiencies through collaboration: The industry is moving towards mutualization and strategic outsourcing to reduce post-trade processing costs [3] - Capital efficiency: Global uncertainty and regulatory shifts are driving organizations to focus on capital strategy [3] - Modernized resilient platforms: Legacy system limitations are driving capital markets organizations to modernize core systems [3] - DLT & tokenization: Distributed ledger technology (DLT) and tokenization are transforming the financial services industry [3] - Leveraging Generative AI: Capital markets organizations are using Gen AI to create actionable insights and efficiencies [3] - Global accelerated settlement: The push for a global T+1 settlement cycle continues, with the UK and EU leading the way [3] - Transaction reporting optimization: Firms are focusing on efficiency and control following regulatory rewrites [3] Lending & Leasing - Frictionless Enterprise: Lending firms are providing a seamless omnichannel digital experience for equipment financing [3] - Moving towards Equipment-as-a-Service: The growth of as-a-service models is redefining equipment financing [3] - Embedded finance: Equipment leasing is being transformed with seamless integration of financing solutions [3] - Expanding B2C channels: Digital platforms are being leveraged for scalable growth and enhanced customer engagement [3] - Bespoke Solutions: Customized solutions are being offered in an efficient and cost-effective manner [3] - Green asset financing: Sustainability is reshaping the investment landscape [3] - Navigating the regulatory landscape: There is a shift towards sustainable and transparent lending [3] - Ushering digital transformation: Data-driven management and decision-making are being leveraged [3] - Simplifying and standardizing processes: AI and ML technologies are being integrated across geographies and business lines [3] - Balancing automation with human expertise: AI and ML are being used for efficiency while preserving human judgment [3] Sustainability - Sustainable product opportunities: Growth in innovative and eco-friendly debt instruments and insurance products is being observed [3] - Sustainability service opportunities: Financial institutions are supporting clients to accelerate their net-zero transition [3] - ESG risk criteria: Financial institutions are increasingly incorporating ESG risk factors into investment strategies [3] - Increased regulation: Enhanced regulatory frameworks and reporting are reshaping corporate accountability [3] - Industrialized climate risk modeling: Financial institutions are intensifying efforts to assess and manage climate-related risks [3] - Greenwashing and greenhushing: Financial institutions face scrutiny from customers, activists, and regulators [3] - Decarbonization of portfolios: Stakeholders are prioritizing low-carbon investments to reduce carbon footprints [3] - Sustainability as corporate DNA: Enterprise-wide sustainability is being integrated into operations, products, and supply chains [3] - Gen AI aiding sustainability: Gen AI is enabling innovative ways to implement sustainability in financial services [3] - Going beyond carbon emissions: Financial services are broadening ESG strategies to include social and biodiversity factors [3] Key Companies and Innovations - Klarna: Partnered with Worldpay to offer flexible payment options, including buy now/pay later, simplifying integration for merchants [9] - Wero: Launched by the European Payments Initiative (EPI), offering instant money transfers using phone numbers and QR codes [13] - Pix: Brazil's instant payment system expanded to Europe, enabling QR payments at Barcelona airport [14] - WorldFirst: Launched real-time cross-border payments for small and medium businesses in over 200 markets [25] - Partior: A DLT payment network enabling real-time, multi-currency clearing and settlement for cross-border payments [25] - Security Bank: Partnered with ACI Worldwide to modernize payment infrastructure and offer real-time payment solutions [34] - Abu Dhabi Islamic Bank: Launched a cloud-native payment hub to enhance cross-border transfer speed and efficiency [34] - HSBC: Launched the multi-currency app Zing, enabling transactions in over 200 markets using Visa's network [41] - Alexbank: Partnered with Mastercard to enhance payment solutions, focusing on fraud detection and cybersecurity [41] - Mastercard: Expanded payment resiliency solutions to ensure seamless card payments [49] - DBS Bank: Invested USD 58 million to improve technology resiliency after digital disruptions [49] - MUFG: Collaborating on a decentralized digital identity initiative using distributed ledger technology [92] - HSBC: Prototyping a decentralized digital identity solution for internal account opening [92] - CIBC: Partnered with Visa to send money via digital wallets to key remittance destinations [97] - Mox Bank: Partnered with Wise to provide express international money transfers with reduced costs [97] - JPMorgan Chase: Introduced Chase Media Solutions, leveraging customer data for targeted retail deals [99] - PayPal: Launched an ad sales business leveraging user behavior data for targeted advertising [99]

Industry Investment Rating - The report does not explicitly provide an industry investment rating [1][2][3] Core Viewpoints - There is a disconnect between what banking customers want and what retail financial institutions provide, highlighting the need for a customer-centric approach [2] - Retail financial institutions can build trust and loyalty by understanding and supporting customers during key life events [2][12] - Customers value seamless service, personalized experiences, quality interactions, and clear communication, which are areas where retail FIs can improve [4] Customer-Centric Challenges - **Easy-to-understand communication**: Over 52% of customers are dissatisfied with current communication practices, desiring transparent and honest information [7] - **High-quality customer service**: Nearly 48% of customers report subpar experiences, often due to limited access to personalized support and long wait times [8] - **Consistent and connected digital experiences**: 44% of customers face challenges with unreliable mobile apps and difficult-to-navigate websites, leading to frustration [10] Life Events and Opportunities - Life events such as buying a home, starting a family, or planning for retirement present significant opportunities for retail FIs to build trust and loyalty [12] - Retail FIs can offer personalized financial planning, transparent information, and streamlined application processes to support customers during these events [21][22][23] - Proactive support through life event trigger alerts and collaborative ecosystems can enhance customer experiences and foster long-term relationships [26][27] Technology and Skills - Retail FIs must leverage technology and skills to enhance the customer journey, such as offering personalized financial products and integrating customer profiles [29] - Continuous feedback loops and regular check-ins help FIs refine their services and stay attuned to evolving customer expectations [28] Conclusion - Trust and loyalty are earned by being present in the moments that matter, offering support beyond financial products, and building deeper personal connections [31] - Retail FIs that recognize the significance of life events can create lasting impressions, strengthen their reputation, and deliver exceptional customer experiences [31]

Gener(AI)ting the future Gener(AI)ting the future Quarterly review N°9 — 2024 Generative AI today is at the threshold of an outburst of creative exuberance. The cover for this edition of Conversations for Tomorrow represents the myriad possibilities that arise at the intersection of light and shadow – not too dissimilar to the possibilities that generative AI creates. At the same time, it also highlights fleeting patterns and dark spots which one must bear in mind as they move forward. The content and desig ...