In its Retail Banking 2020 report, PwC asserts that innovation will be the single most important factor driving sustainable top- and bottom-line growth in banking over the next five years. Another recent study shows that banks are making innovation a strategic priority and investing more to boost their innovation performance and counter threats from new players.
In its Retail Banking 2020 report, PwC asserts that innovation will be the single most important factor driving sustainable top- and bottom-line growth in banking over the next five years. However, while innovation has come a long way in recent years, with the successful implementation of of mobile banking and enhanced data capture and analysis, the banking industry’s tendency to exercise caution and employ multiple levels of process and oversight in response to regulatory pressures can limit the pace of innovation.
The United States corporate tax rate has been stuck at 35 percent for three decades. In that time, other leading countries have slashed their corporate rates to an average of 25 percent, with many far below that figure. This tax rate discrepancy puts domestic manufacturers at a competitive disadvantage and creates incentives for them to engage in “inversions” (using openings in the law to change their tax nationalities) or to move production and jobs offshore.
The global gaming industry is in the midst of a significant change. Casino operators and suppliers must now attempt to take advantage of new global growth opportunities, adapt and respond to new online competitors, innovate to reach new audiences and develop features to enhance player experience.