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3 Ways European banks can Uplift Capital Markets
European banks need a long-term business strategy that aligns technology and human skills to boost its capital markets industry.
FREMONT, CA: European capital markets have been impacted by a number of events in the past few years. Transformations such as technological innovations, evolving trade disputes, ageing society, climate changes, Brexit, bank policies and various other factors are constantly shaping the European markets. The present state of the European capital markets demands urgent attention as it faces a number of challenges ahead. For instance, European banks are hardly any match for their US counterparts in the capital markets business. It's clear that the existing set of policies need alterations to take the market in the desired direction. Here are some of the grey areas where European banks need to work.
Investments in Digital Technologies
Increasingly, capital market firms across the globe are investing in technology purchases and upgrades to gain a competitive edge. While European firms are not alien to this trend, the rate of adoption has been slow when compared to their western counterparts. Financial services executives expect blockchain, artificial intelligence (AI) and machine learning (ML) to have the greatest implications on the European market.
The evolution of capital markets demands to restructure the role of future bankers. Future bankers must respond and thrive along with technological advancements and innovations. Bankers are the bridge that connects technology and relatively naïve customers. Thus, future bankers must be adept at handling technology while assisting customers with the same.
Improving Sales and Marketing
When it comes to sales and marketing, European banks need to articulate a clear account-by-account plan and align compensation and other incentives. Banks must also identify clients who seem promising for the bank's prospects and focus their marketing efforts on them.
While technology is certainly a factor, banks must also transform their policies and articulate a long term plan to address the woes of the current European market.
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