The financial sector has to tackle various challenges:
- New or changing requirements by regulators are forcing financial institutions to adapt, such as SEPA, BASEL II, SOX, Solvency II.
- Local and international mergers and takeovers mean that integrations or divisions are necessary.
- Financial institutions have to save costs and increase efficiency.
- The emphasis is on restoring consumer confidence in the financial world.
- Technology must help business processes to become more efficient and open new markets.