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.
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.