Swiss private banks have been on the defensive for a decade. We think the time has come to go on offense through commercially-driven transformation. By focusing on their strengths, and partnering for their non-core activities, Swiss private banks have a real opportunity to maximize value and grow again.
The FinTech revolution offers private banks the unprecedented opportunity to benefit from digital technologies, innovate and transform their business. Banks taking up the challenge of collaboration – with FinTechs as well as other strategic partners – stand a good chance of finding the way forward.
10 percent of private banks did not survive 2015. KPMG’s joint study with the University of St. Gallen finds that many banks’ efforts to adapt their business and operating models to the new environment have proven insufficient. Despite trying to turn around their performances, many banks face a stark reality - they can’t survive.