Private banking market in Spain: perspectives, challenges and opportunities

Abstract

Private banks operations are expected to experience significant growth, according to the European Wealth and Private Banking Industry Survey 2005, presented every two years by IBM Business Consulting Services, the consulting branch of IBM. From the opinions compiled by the survey, IBM sees five imperatives for private banks management to ensure success: build stronger client insight and focus, perfect the client experience and offer holistic advice, provide innovative high value added products blended into solutions to offset commoditisation, focus on processes of value creation and determine partnering and outsourcing solutions to enable operational agility.