Building the BIL is adapting and transforming to tackle the challenges faced by the banking sector, outlining its major objectives for tomorrow in its Create Together 2025 strategy.
Since 2008, regulations governing financial institutions have tightened considerably. Clients and investors have called for increased transparency and protection. All banks are affected, and as a systemically important financial institution, BIL has had to adapt the way it operates as well as its offering. The international banking landscape has changed considerably too. Increased market volatility reduced the attractiveness of certain investment products, and the European Central Bank’s negative interest rate policy led to the following fact: classic savings no longer pay. As digital tools have become the norm, consumer behaviour has changed, with clients wanting fast, flexible and practical solutions. Traditional banks must keep up with these changes and adapt their infrastructure and services accordingly. BIL has made this new environment their own, and will continue to offer clients real added value with its services and products. For all these reasons, the Bank’s Create Together 2025 strategy gives a clear direction and lays the foundations for the BIL of tomorrow: a bank that’s ready to rise to the challenge, looking to the future with optimism.
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