The Financial Services industry is in the middle of a perfect storm, caused by eight distinct yet interconnected strategic forces. This combination of internal and external forces are compelling executives to invest scarce resources in multiple, contradictory directions. This is widening the trust gap between the industry and its customers, as pressures to retain current margins leveraging existing models comes at the expense of transparency and customer alignment.
Executives are well aware of the compounding effect of these disparate but interdependent forces. They know that these forces demand a holistic response. However, all too often we witness a reversion to silos, which drives more internal focus, localized optimization, and jargon-filled communication. This in turn reinforces the trust gap.