Research & Thoughts

Capco No Sleep Survey: 2012 Edition

Bear Run On Alarm Clocks To Continue Through 2013

The bankers of Belgium are still lying awake at night. 2012 was tough. 2013 will be tougher. Heightened activity not hibernation will be imperative. And Financial Institutions will need to respond to a “new normal” that has now become “the not-so-new but still normal, normal”. Our second annual No Sleep Survey indicates increased focus on product innovation, revenue growth, customer satisfaction and cost cutting. Find out more.

Capco’s second annual No Sleep Survey indicates increased focus on product innovation, on revenue growth and, real emphasis here, on cost cutting. In 2013, customers will be the key drivers of growth while, simultaneously, costs are minimized. Insomnia will continue to focus minds. Once again, the 2012 survey responses provide fascinating insight into what industry leaders really think about, as they lie awake.

A bruising year – without landing any “killer punches”
No surprises, some 85% of survey respondents confirm that 2012 was a rough year generally. It might seem encouraging that this is actually lower than the 93% who said they anticipated troubles ahead, back in 2011. But this must be seen in context. There is a sense of not really getting to grips with the big issues. A startling 45% of those surveyed admitted that they had not managed to control effectively through 2012 the issues they had predicted 12 months ago.

The wide awake checklist - control, innovation, Euro crisis
In this paper we detail the key causes of this year’s insomnia. Although many remain the “usual suspects”, the responses indicate some intriguing trends. Headcount productivity, IT complexity and access to talent and capital all disrupted beauty sleep in 2011. This year, in the counting sheep race, cost control and product innovation have pulled ahead. IT complexity has dropped back somewhat from last year, while a very strong new contender – the Euro Crisis – has emerged. Some 28% of respondents said that events in Europe were keeping them awake.