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Future of Banking

The COVID-19 pandemic has brought the world in an exceptional situation. Banks notice an even more increasing need to serve the society besides their clients and staff. They have an important responsibility to sustain essential services and at the same time to protect the health and well-being of their staff. A maximum use of digital possibilities and an effective allocation of resources will form the basis of these changing demands.

The Accelerator: co-creation for the digital transformation

PwC has put together a multidisciplinary team of experts in the field of business and software development that is able to generate IT solutions to manage business issues.

Read more about The Accelerator

Automated Risk Insights

A platform that facilitates automated risk analyses on the financial statements of customers, counterparties and suppliers.

Customer Lifecycle Interaction Platform

A Salesforce-based platform that brings together all of the parties involved in a Customer Due Diligence, including the clients themselves.

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This is how we can help you

How do you ensure, in these changing circumstances, that your bank remains a relevant player? We are happy to answer that question, based on four factors which relate to client orientation, competition, the new business economy and the reinvention of your organization. For more information about the ‘Future of Banking’ you can contact our ‘FoB’ team.

Relevance formula

The relevance that banks have for interested parties is the product of three factors: Trust, Convenience and Low costs. The higher each of these three factors are in the formula, the higher the relevance of the banks. None of the factors can be very low or negative.

Relevance = Convenience x low cost x trust

Convenience can be a distinctive, added value of banks for their clients. By convenience we mean, among other things, the degree to which clients are satisfied with their user experiences in relation to the product and services provided by banks and about the speed, stability and simplicity which they experience in the interaction and communication with banks via their chosen channel. Read more about how banks can make use of new technologies and FinTech to gain relevance for the factor convenience.

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The further reduction of costs is an essential precondition for banks to be able to supply their products and services for a competitive price which clients regard as fair. Read more about how banks can make use of new technologies and FinTech to gain relevance for the factor costs.

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Trust means that banks are reliable, in other words predictable, transparent and honest to their clients. By trust we also mean the degree to which banks can make a useful and valuable contribution to the society of which they are part of. This is the foundation for their relevance of banks. Read more how banks can make use of new technologies and FinTech to gain relevance for trust.

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Global FinTech Report 2019 - Crossing the lines:

How FinTech is propelling financial services (FS) and technology, media and telecommunication (TMT) firms out of their lanes.

The lines between financial services (FS) and technology, media and telecommunication firms (TMT) have been blurred. A new playing field arises. Many TMT firms are applying for FS licenses, and FS organisations have begun calling themselves technology companies.

FinTech, or financial technology, is at the epicenter of this transformation. FinTech is used to to sharpen operational efficiency, lower costs, improve customer experience and heighten the appeal of their products and services. This leads to new application possibilities:

  • Digital banks offer new propositions and user profiles;
  • Asset management engages in fully customised robo-advice;
  • Insurers make use of sensors to monitor the health of people to prevent illness.

A recent PwC survey shows that consumers are ready for the digital shake-up. The question is no longer whether fintech will transform FS, but which firms will apply it best and emerge as leaders.


‘Banks and insurers need to go that extra mile, so that ecosystems are created faster and fintech companies can join in.’

Martijn Jansen, Banking & Capital Markets Leader, PwC Netherlands


Contact us

Wilbert van den Heuvel

Wilbert van den Heuvel

Banking & Capital Markets Leader, PwC Netherlands

Tel: +31 (0)65 184 54 76

Eugénie Krijnsen

Eugénie Krijnsen

Industrie Leader Financial Sector, PwC Netherlands

Tel: +31 (0)88 792 36 98

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