Financial Services

Why KPMG?

Our audit teams have the in-depth industry knowledge that enables us to deliver the statutory audit with rigour and insight, while our advisory group offers consulting on financial services accounting issues. Our tax teams advise on complex international tax issues and structures. We have a regulatory group, able to advise on and implement all aspects of Israel, European and international financial services regulation while our risk and information management teams deliver strategies in these business critical areas.

Banking on success
All banks are rightly putting e-business at the heart of their future strategy. But two distinct paths are emerging. Some are setting up new and separate "baby banks" alongside the traditional brand. Others have eschewed this strategy and are intent on transforming the whole bank into an e-brand. Across the sector we have identified six key fronts where banks will need to do battle if they are to be winners in this highly competitive, new environment:

• customer management and retention
• building and developing the brand
• developing the capability for continuous product innovation
• developing world class e-enabled business process and systems
• building integrated multi-channel businesses
• blending together banking, technology and marketing skills.

It is imperative that big banks embrace the new rules being set by the New Economy. Internet banking is very much part of that change, but it is far from being the whole story. Transforming the business around an e-enabled set of systems is a must. Being a major player today offers a head start. Other than that, there are no guarantees.

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