The future of banking

How bankers can become innovation leaders again

The environment in which banks operate has changed rapidly and is continuing to do so at an ever-increasing tempo. Banks that want to keep up – and certainly those who want to take a lead – are having to pull out all the stops in order to respond properly to the wishes and demands of the client of the future.

Our analysis has revealed that new technology and legislation and regulations are the two primary factors pushing change. Regulations are making it easier for new players to enter the banking sector and, thanks to new technology, these parties are able to disrupt banks' business model. Besides these two trends, social, economic and environmental developments are also playing an important role. What is more, clients' expectations are changing now that they can be in contact with their banks digitally at any time and in any place, precisely at the moment in time that new players are forcing the banks slowly but ever more so to the background.


Playback of this video is not currently available

This is how we can help you

How do you ensure, in these changing circumstances, that your bank is a relevant player in 2020? We would be only too pleased to answer that question based on four factors which relate to client orientation, competition, the new business economy and the reinvention of your organisation. For more information about the ‘Future of Banking’ you can always contact our ‘FoB’ team.

"In the next 10 years, we'll see more disruption and changes to the banking and financial industry than we've seen in the preceding 100 years"

Brett King

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

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. This is the foundation for the relevance of banks. 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. 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. The PwC Global FinTech report shows that Dutch financial institutions regard cost reduction as the primary basis for staying relevant compared to other parties (77% of the respondents).

Although new technologies and FinTech are often regarded as threats to banks, these developments can definitely also help banks to increase their relevance. The following is a description for each of the three factors (trust, convenience, low costs) as to how banks can use new technologies and FinTech in order to increase their relevance.

Relevance = Convenience x low cost x trust

New technologies and FinTech are ideal when it comes to improving convenience for banks' clients.

Read more

In order to stay relevant for their clients, the sales price of their products and services will have to be kept at an acceptable level in the long term.

Read more

As regards strengthening the trust in the banking industry, it is essential that banks achieve agreement with their interested parties about the objectives that they want to achieve.

Read more


{{contentList.dataService.numberHits}} {{contentList.dataService.numberHits == 1 ? 'result' : 'results'}}

Contact us

Martijn Jansen

Banking & Capital Markets Leader, PwC Netherlands

Tel: +31 (0)88 792 51 75

Eugénie Krijnsen

Industrie Leader Financial Sector, PwC Netherlands

Tel: +31 (0)88 792 36 98

Follow us