Nearly 90% of bankers in a global survey conducted by IBM believe that transforming from the status quo is critical to profitability. Tomorrow's banks must become more client-centric by leveraging sophisticated insights to improve risk management, pricing, channel performance and client satisfaction. Simultaneously, banks in mature markets should reduce operational complexity, which they estimate costs them approximately $200 billion annually.

In emerging markets, where wealth is growing at nearly $900 billion annually, banks should focus on wealth management, innovation and inclusion of the underbanked and unbanked.

Globally, banks need to become more business savvy, client-centric and efficient in their operations. Because banks in emerging markets and those in mature markets face disparate challenges due to differences in market conditions, their strategies will differ, despite their common need for greater insight to meet these challenges.

This white paper outlines steps that financial institutions can take to become more business savvy and efficient in the age of the consumer.

Read on and learn how to:

• Leverage information and reduce risk
• Properly set product prices
• Learn about your clients
• And more.