New Era in Banking: The Landscape After the Battle

The financial crisis that erupted in 2007 marked a departure from traditional banking practices. Even as the crisis unfolded, a range of broader economic, geopolitical, and technological forces was already influencing the shift of the financial industry from the twentieth to the twenty-first century. These transformations in the financial and global landscape have instigated significant changes in banking regulations and increased scrutiny over banks, simultaneously uncovering prospects for molding a future-ready banking sector. "A New Era in Banking: The Landscape After the Battle" explores the primary catalysts of change driving this extensive transformation in the financial services industry. It delves into the multifaceted challenge that financial institutions face in de-risking their business models, reestablishing connections with customers, and focusing on stakeholder value creation. By dissecting the profound changes that have impacted the banking sector, "A New Era in Banking" places these shifts within the broader trends that transcend the immediate context of the financial crisis. Banks now find themselves more susceptible to the ongoing shifts in economic, demographic, regulatory, and technological landscapes. Nonetheless, by exploring how banks can function as adaptive, technology-driven information enterprises, "A New Era in Banking" encourages financial practices that are not merely survival-oriented but centered on innovation.