47th Efma Congress: Banking Transformation

Transforming the financial industry for the new world order

The next decade will be one of opportunity for the financial industry – for those who can move fast enough.

Even though most financial institutions have pushed transformation to the top of their list of strategic priorities, the need for improvement is never-ending. In the post-crisis period, the industry has been under constant pressure as a result of disruption from unexpected competitors, the explosive growth of new technologies and relentless consumer demands. As the world’s consumers embrace digital adoption, retail financial services customers expect a seamless service across multiple channels and all lifecycle stages in a human purpose and experience driven era.

The 47th Efma Congress will explore these opportunities and challenges and more across three dedicated themes:

Changes in the FS landscape:
1.1 Changes in the financial services landscape shaped by the entry of non- traditional, non-financial players such as telcos, lenders, taxi companies, big tech, etc.
1.2 Traditional banks’ responses - lessons learnt from the ventures of traditional players

How to react:
2. Reinventing yourself in leadership, culture & organization:
2.1 Cultural shift in big organizations & leadership in the 21st century
2.2 Sustainable and responsible banking - value driven organizations
2.3 Experimental approach culture – failing, learning and winning
2.4 Inspiration from non-financial companies and players
2.5 What will financial services look like in 50 years?

3. Transform, innovate & create new lines of business:
3.1 Parallel innovation: new brands, using Banking-as-a-Service
3.2 Opportunities arising from open banking
3.3 AI and data strategy
3.4 Co-creation with external business partners
3.5 M&A and own investment funds
3.6 Building and developing digital ecosystems