Banking & Finance

The banking industry is undergoing dramatic global change at a rapid pace, leading to one of the most challenging periods in the history of the banking industry.

Technology innovation is transforming the sector and will make it unrecognizable in a few short years. Banks are now offering services over electronic media - such as the Internet - altering relationships with its customers, its suppliers and within the organization. Technology has eroded barriers to entry, allowing new entrants in the market, with relatively little investment, trying to rapidly take market share.

Consolidation and globalization are also bringing about great change. This is the result of recent developments in regulation; competitive pressure domestically and internationally; increasing client demand for global services and the need to spread the costs of staying competitive over a larger volume of revenues.

Lastly, the struggle to increase shareholder value is behind everything that banks are doing. Reduction of costs through outsourcing; joint ventures; new channels to the market; use of technology to reduce costs and transactions times, more services offered to customers; customer management and a constant drive to reduce cost income ratios through any means possible, are features of the banking landscape that are here to stay.

Providing quality service is a primary goal at KPMG; in combination with our industry-focused approach to serving clients, this dedication to quality service permeates our organization and helps to differentiate the firm in the marketplace. At KPMG, we are experienced professionals in a wide range of services ranging from e-business, process re-engineering, cost reduction, mergers and acquisitions, Alternative Risk Transfer and tax minimization as well as advice for non Cypriot banks seeking access to the Cyprus capital market.

In Cyprus, we provide services to the majority of local banks as well as to the significant offshore banking units established in Cyprus.

For further information about our services or if you would like one of our professionals to contact you please contact us.