The global significance of the Swiss financial center has made it a focus of efforts to combat organized crime and money laundering. Banks and public authorities are finding themselves faced with a variety of challenges as a result. A new study by KPMG identifies areas where action needs to be taken.
How well are senior leaders dealing with disruption? Executives face the data revolution and new technologies, the demand for greater customer centricity, and growing constraints imposed by governments and regulators. The issues are far reaching and the solutions require a strategic approach.
Analyzing the performances of 85 of Switzerland’s 114 private banks produces a bleak picture. Almost every key performance indicator (KPI) deteriorated in 2016 – sometimes significantly. The vast majority of banks have not taken the action needed to reverse their decline.