Banking has received a very bad reputation, and people don’t trust banks anymore, not for insurance, not for investments, nor to put their pension fund in. The banks will regain credibility.
A lot of shocking information is still to be revealed in the banking sector. Legislation towards banks has changes but the safeguards towards the individual is not in place. Banks need to take responsibility for the individual. This will force banks to create new products that will be more beneficial to the people.
Certain big banks in America came together after the last crisis and started planning for the next phase ahead. A picture is seen of a safety belt that had been tied around all three of these banks. The goal of this safety belt is to jointly protect them and increase their profit as it was before the financial crisis. This new profit making will be done under the false pretense of client consciousness while in actual fact it is an attempt to get more money into their own pockets. These banks think they are getting away with it but their actions will have the opposite effect of what they expected and force them to fulfil the obligations that they promised to their clients.
Banks will be investing in building projects in various countries in the world. Financing building projects is going to be a theme for banks in 2015.
Some banks will be shutting down in this coming year. Some countries that think they are fine will experience difficult economic times and they should prepare for it or else they will be caught unaware. This will necessitate a reshuffling in their National government and new leadership.
A whole division of ABSA is going to be cut off or sold. ABSA will endeavour to make itself light footed and modern.
New young and innovative leaders
Smart clever men are graduating and preparing themselves to go into the financial and banking sector. There is not enough people with management skills in banking. Therefor banks poach these workers from each other, recycling the same persons through the system. Young innovative people will come in and bring new ideas.
Smart banking will become increasingly important in the banking industry. Through smart banking banks will be able to be more cost effective and accessible. In 2015 it will seem like international banking is stable and has recovered. Most banks will become more profitable.