After having been devoted for many years to the distribution of financial products and services, our Association’s Congress has focused in recent years on the challenges posed by multidistribution or even what some people call omnidistribution. Have the major banks as yet succeeded in mastering the complexity of the issues inherent in the multiplication of channels and constantly changing customer behaviour? The answer is certainly not, but those issues are now addressed at our Distribution Summits www.efma.com/distribution15
Instead, our Congress will now be devoted to the general transformation which the major financial institutions need to undergo in order to rise to the challenge of digitisation. This 43rd Congress will therefore be the culmination of a week-long series of events, with the first two days devoted to our Innovation Summit www.efma.com/innovation15
and the third to our Innovation Awards Ceremony www.efma.com/innovationsAwards15
From innovation (necessary to stand out in an increasingly febrile market under the momentum of new players) to transformation (indispensable to react with agility to new customer demands), we will complete the circle.
Attracting heads of retail, business areas, strategy, development and transformation from the world over, this Congress will discuss the transformation of existing institutions in all its forms, even new business models when the existing structures are too burdensome to upgrade. Things need to change in line with a world which has dramatically changed, and this is just the beginning.
The focus will be on five key issues around transformation:
What the new retail banking model needs to look like?
How will banks become more customer centric and develop superior customer experience management skills to match other industries?
How will banks successfully deal with and manage the multitude of compliance and regulation issues that currently threaten their very existence?
What type of people skills, training and rewards will be required to run future successful banks?
How will banks achieve the levels of operational efficiency and cost management to perform at acceptable levels?
The Efma Congress will debate and discuss these key issues to leave delegates better prepared for the task ahead and solutions already being put in place to address them.