Workshop KPMG Luxembourg

“The Bank of Tomorrow”

With 4,000 employees, the various divisions and business lines of the “Bank of Tomorrow” in Luxembourg respond to the needs of individuals and businesses, investors and also corporate and institutional customers in three core business areas: Retail Banking, Investment Solutions and Corporate and Investment Banking.

However, the speed at which innovation and regulations are impacting the traditional banking model has made it difficult for the “Bank of Tomorrow” to remain competitive. Over the past five to ten years many new players have entered into the various markets in which the bank is active. Electronic payment service providers, online brokers and digital banking platforms have attracted many young customers, who do no longer feel the need to go to a branch and have a personal relationship with their banker. In addition, politicians together with regulators have introduced new legal requirements following the financial crisis of 2007-2008 to comply with. Both these trends are disrupting the traditional value chain of the “Bank of Tomorrow”.

In this business case, students will be tasked with developing an innovation and digital strategy for the “Bank of Tomorrow” as well as proposing a roadmap for its implementation. The new strategy should enable the “Bank of Tomorrow” to deal with the above-mentioned risks and challenges as well as regain its competitive edge in the Luxembourgish banking sector. The results will be presented to the bank’s Board of Directors.