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The potential to create shared value through retail, commercial, and investment banking is enormous. The banks that can realize this potential will recast their role in society through a lens of mutual opportunity: for banks to increase long-term profitability and for society to leverage the unique financial capabilities of banks to drive progress.
Top Takeaways
- The financial crisis resulted in growing competition, client demand, and regulation, creating a unique opportunity for banks to reconsider their purpose and practices.
- The shared value opportunities vary for retail, corporate, and investment banks, but include: furthering client prosperity, fueling growth of regional economies, and financing solutions to global challenges.
- Three myths act as barriers to creating shared value in banking: a profit vs. purpose tradeoff mentality, low ROI expectations, and insufficient scale.
The banking industry is essential to solving today’s most pressing challenges, and addressing these challenges is vital to banks’ future business.
