Deloitte and The Marketing Audit collaborated on thought leadership white paper

Deloitte and The Marketing Audit collaborated on thought leadership white paper

In 2009, The Marketing Audit worked with Deloitte on a thought leadership white paper, “Thriving in a Changing Environment,” about the transformation of the global financial services industry.

Created to support Deloitte’s annual Global Financial Services Industry (GFSI) Summit, this report identified strategies and practices to help clients “thrive in this changing environment.” The report is based on a survey of financial services executives from across the globe, and the viewpoints of Deloitte subject matter experts. The survey obtained client views on a variety of topics, including sources of capital and funding, new regulations and stakeholder priorities, the re-tooling of risk management and the future of innovation.  Other key points of note:

  • 72% of respondents indicated that they did not expect complex products to return to the market before three years, meaning that it is imperative that institutions develop replacement revenue sources that take into account the dramatically different economic landscape rather than simply waiting for complex products to regain favor.
  • When asked which actions are the most important to an institution’s attempts to rebuild trust and brand image, more transparency ranked the highest.  Interestingly, the next most important action was to simplify disclosures, which outranked“more disclosures, suggesting that transparency around transparency is key to an institution’s success and reputation moving forward.
  • Respondents saw government support in certain institutions as a short term advantage that quickly turns into a long term disadvantage due to conflicting stakeholder priorities and the effects on talent retention and entrepreneurial activities.

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