Growth, Yield and the Future of Banking


Writer Cara Bouwer


The monolith of banking is so deeply connected to the development of human civilisation, with trade and cross-border transactions, the birth of capitalism and the wealth of nations, that our deeply-held views are challenged when this institution bends or buckles. The system did just that in 2008 when the global financial crisis forced an uncomfortable re-evaluation of the world of financial services.


• The financial services sector has come through the 2008 banking crisis only to confront a new challenge: a world of low interest margins, low growth and changing consumer demands.


• Banks now need to make deliberate choices about where they want to compete, their product lines and the types of consumers they want to attract.


• Of prime importance is an elevated focus on broadening the banking net by making financial services more inclusive and available to emerging market consumers.


• Digital is impacting all levels and areas of banking, and is an essential tool for driving financial inclusion around the world.


• The banking sector needs to reshape itself to remain relevant and deliver value in the modern world economy.


• A customer-centric strategy is gaining in significance as a key differentiator.


2 An Absa Investment publication


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