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This book analyzes the set of forces driving the global financial system toward a period of radical transformation and explores the transformational challenges that lie ahead for global and regional or local banks and other financial intermediaries. It is explained how these challenges derive from the newly emerging post-crisis structure of the market and from shadow and digital players across all banking operations. Detailed attention is focused on the impacts of digitalization on the main functions of the financial system, and particularly the banking sector. The author elaborates how an alternative model of banking will enable banks to predict, understand, navigate, and change the external ecosystem in which they compete. The five critical components of this model are data and information mastering; effective use of applied analytics; interconnectivity and "junction playing"; development of new business solutions; and trust and credibility assurance. The analysis is supported by a number of informative case studies. The book will be of interest especially to top and middle managers and employees of banks and financial institutions but also to FinTech players and their advisers and others.
List of contents
1 Unbearable lightness of banking.- 2 Synapsis in the global financial system.- 3 In transformation we trust.- 4 Cyber capital at risk.- 5 Digital transformation in payments.- 6 Transformation in funding.- 7 Transformation in investment management.- 8 Transformation in lending.- 9 Transformation in risk management.- 10 Transformation in insurance.- 11 Digital for the greater good.- 12 The synapses challenge ahead.
About the author
Claudio Scardovi is a managing director and global co-head of the financial services practice for AlixPartners, a global consultancy focused on restructuring, value recovery, transformation, and growth. He has specialized in the financial services sector for the last 22 years, including 17 as managing director or country/regional head of financial services for a number of companies, including KPMG, Accenture, Intervaluenet, Oliver Wyman, Lehman Brothers, Nomura, Advent International, and AlixPartners. He is also a teaching professor at Bocconi University and SDA Bocconi, specializing in capital markets, financial systems, restructuring, and transformation, and on the Imperial College (London) master’s course in management. Claudio Scardovi has written more than 200 articles and papers and 13 books, published by Edibank, EGEA, Il Sole 24 Ore, Quondam, Mondadori, and Springer. He is also a member of the Strategic Advisory Board/Future of Banking of the World Economic Forum and of the board of Risanamento SpA, the largest real estate developer in Italy.
Summary
Analyzes the impacts of digitalization on the global financial system
Discusses the emerging transformational challenges, combining business and technological perspectives
Leverages best practices in academia, consulting, and banking across many different countries
Offers a compelling new framework of competitive analysis based on multiple real-life applications
