The competition of financial institutions in winning qualified employees is still going on and of major importance for their future success although the qualification of future employees will be significantly different to the needs of tomorrow.

Globalization, digitalization, mega mergers and changes in sales structures are only a few of those key issues pushing the financial sector into continuous change and restructuring.


Current developments in financial institutions can be characterized by aspects such as:

  • Consolidation of private banking
  • Downsizing of physical retail networks
  • Digitalization of business processes
  • Introduction of Fintech businesses
  • Overall restructuring of organizations

 

Current development in insurance companies can be characterized by aspects such as:

  • Integration of banking and insurance services
  • Development of sales channels through online portals
  • Specializing on certain insurance products and re-aligning services
  • Digitalization of business processes

 

Petra Bergner, Mathias Siebenlist