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This study finds that banks can address customers' demands by
capitalising on two of their biggest assets, customers trust and their
superior access to user data, to deliver enhanced user experience,
an improved digital journey and a more diverse product offering.
We have identified five specific areas of opportunity where banks
can compete and generate new sources of revenue:
• Sustainable Finance
• Cyber Security
• Non-banking services
• Cybercurrencies
• Client relationships
With the Open Banking movement in the background, the way banks
effectively participate in the broader ecosystem — and how well
they select their partnerships — will determine their future success.
Introduction
As the banking environment has dramatically changed in the past
two years, banks need to adapt their offering to their customers'
shift to digital channels and the demand for new products in an
increasingly competitive environment.
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