As lockdown restrictions begin to ease, the strategic focus within banking and capital markets (BCM) is pivoting towards how to succeed in the post-crisis world. The road ahead is challenging, but these circumstances also present a unique opportunity to accelerate transformation, boost growth and reassert the value of BCM organisations within society.
Although COVID-19 is still taking a daily human and economic toll, the worst of the immediate crisis is probably behind us. As a business leader, you can now shift your focus from crisis mobilisation and stabilisation to a new set of more enduring, strategic goals.
We believe the answers to these strategic questions fall into five key priorities:
Below, we outline which actions we believe your organisation should take and which potential benefits it should target. Some of the actions reflect today’s unique circumstances. Others should already have been part of your growth strategy, although COVID-19 has created new urgency around implementing them.
Out of every crisis comes opportunities for competitive reinvention and differentiation. Today’s strategic rethink provides a catalyst for strengthening operational resilience and positioning your business for a new era of innovation and growth. We believe that our five priorities offer a valuable starting point for navigating through the crisis, capitalising on emerging opportunities, and being a force for good within society.
Global Banking and Capital Markets Leader, Partner, PwC Australia
Tel: +61 2 8266 4726
Lara De Vido
Financial Services Marketing, Senior Manager, PwC United States