Finance and Insurance

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José Luis López Torres, PwC financial sector partner

Global Private Banking Survey: Singapore will become the main market for private banking in 2013

Financial Regulation Unit: Domestic and international regulation, services related to supervisory bodies and strategic planning and implementation of regulatory requirements.

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Banking industry

Insurance industry

Keys to the banking industry

Spain’s banking sector and, in particular, savings banks, have been undergoing a deep restructuring process since 2009 under the Bank of Spain’s supervision.

In Spain, entities are endeavouring to enhance efficiency by both increasing revenue and cutting costs.

Responsibilities for the economic crisis extend not only to financial entities but also to supervisory bodies and financial regulations.

All financial institutions wish to place the customer at the centre of their strategy and business model. Business is unlikely to be sustainable if this approach is not adopted.

Banks are responding in different ways: by seeking increased profitability (divestment of non-core businesses, sale of unprofitable assets and reduction in operating costs), maximising the use of capital and minimising risks.

PwC’s responses to the industry’s main challenges.

Keys to the insurance industry

For those entities that have not yet started their adaptation to Solvency II, there is not a minute to lose.

Everyone wants to have a strong presence in on-line channels and bancassurance and also to reactivate the agency network.

Customer focus, extended vision and loyalty and retention management.

Improving the way of doing things, automation.

Innovating products, business models etc .

PwC’s responses to the industry’s main challenges.

Relevant information

Reports

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Publications

The new digital tipping point

We are in an unprecedented period of increasing regulation and continuing cost pressures for banks. This is being compounded by the persistent trend in margin compression and alarming market uncertainty.
Download

Bank recapitalisation in the context of the European sovereign crisis

Analysis of recapitalisation requirements for Europe’s banking industry, approved by the Commission and the EBA. Download

MiFID 2: A challenge for financial entities

Although four years have not yet elapsed since the MiFID Directive came into effect, a reform process is under way. The report analyses the EC’s first reform proposals: specifically, the consultation paper of 8 December 2010 on the revision of the MiFID. Download

Financial Sector Centre of PwC and IE Business School

A unique institution in Spain, independent from banks and savings banks, which analyses the challenges facing the domestic and international financial sector, the future of regulations and supervision, and changes that must be implemented by credit entities to avoid new crises.
Publications