Thinksoft @ 18th Handelsblatt Annual Conference, Frankfurt

Thinksoft joined leading European Bankers, CEO’s, Regulators and Journalists at the “18th Handelsblatt Annual conference” held in Frankfurt, Germany. The theme of the conference was “Banks in Transition” to discuss the future of Banking and what’s in store for the public with the innovations expected Banking.

We had Anshu Jain CEO of Deutsche Bank speaking about the big merger /consolidation wave which is expected in the Banking space, thus ending the artificial equilibrium. He expects a lot of structural changes to happen which will lead to simplification of business models. He laid stress on the “Fracture of Trust” between the Banks and the customers, a key point which needs to be seriously addressed after the financial crisis triggered by Lehman brothers 5 year back.

Mr. Jain expects the following three business models for the merged bank in the coming years: 1.Regional Banks, 2. Asset Managers/ Investments Banks and 3.Global Universal Banks. Global universal banks have the unique advantage ofto their vast presence and the opportunities they have compared to others. He also expects it to be watched closely by regulators.

He also talked about the future where “Banking will happen without Banks”, where it will be done online with big internet giants and traditional data Provides coming into play in the banking and trading space.

There were other CEO’s from across Europe who expressed their views onthe changes expected in the coming years in the banking arena. These are mostly around Increase in capital, requirement for a competent yet resilient banking system and the requirement for a global regulation for all financial sectors (Banks, Insurance, Capital markets, Trading etc) which ties all the threadstogether and will create a fool proof system for all of us.

For Thinksoft this will be an ideal platform to grow along with the global banks due to our global presence and the experience which we can take and share withdifferent business regions. The expected increase in digitization and virtual banking will require sharp focus on quality and “first time right” roll-out of online features and services to ensure uninterrupted customer experience.