Banking Takes a New Look at Innovation

Like businesses everywhere, global banks are adjusting to the new normal following the global financial crisis. Key areas to address include greater consumer skepticism; shifting credit and investments needs; and new customer-service opportunities through evolving technologies. In this video, Wharton finance professor Franklin Allen and Pierre Pilorge, Ernst & Young’s customer services advisory leader, offer their views on these issues. Allen is coauthor of Financing the Future: Market-Based Innovations for Growth. Pilorge is the chief force behind Ernst & Young’s latest survey on global banking — “A New Era of Customer Expectation,” which found that 44% of some 20,000 retail bank customers surveyed worldwide reported lower confidence in the banking industry last year.

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