To understand how emerging macroeconomic, social, and regulatory trends will impact the financial services industry, PwC maintains an ongoing global research effort called Project Blue. In Retail Banking 2020: Evolution or Revolution?, we studied how these trends will impact banks around the world. Specifically we looked at global banks, national banks, regional banks and non-traditional players that have entered the banking space.
We looked closely at how each trend would impact each player and developed a series of scenarios for how the banking landscape could evolve over the next 7 to 10 years. While there are significant shifts that require ongoing monitoring, 6 fundamental priorities emerged that we think are critical for a vast majority of the players. While these priorities will vary based on strategy and priorities, what is certain is that those who adapt their businesses to execute against these six priorities will be the 2020 success stories.
The Project Blue Framework