Key-Challenges for the Financial Services Industry
More than 10 years after the collapse of Lehman Brothers, monetary policy is yet to normalise, banking reform regulations continue to be implemented, and post-crisis, populist political shocks continue to reverberate globally while new potentially disruptive technologies are bound to change the business landscape.
Banks have to define ways how to deal with new risks from e.g. AI backed cyber crime. The Financial Services Outlook 2019 takes a look at some of the key themes of 2019, which will influence the CRO agenda within many European Financial Institutions.
The Financial Services Outlook (FSO19) provides an overview of the overarching macro-economic and geopolitical trends that will dominate the year such as Brexit and interest rate policy.
Economic and monetary policies of the world’s major economies as well as developments of global trade relations have to be considered as well as political and socio-economic developments on regional levels, to set the background and understand the conditions that Financial Services companies are facing. Finally environmental issues, such as climate change and its economic and political impacts, have put themselves on the agenda as an additional risk to take into account.
“The Financial Services Outlook 2019 offers a panoramic view of drivers and defining elements of the Financial Services Industry worldwide. Based on in-depth hands on experience of well-versed professionals from the fields of Finance, Risk, Regulation and Technology, the FSO19 provides an invaluable primer for the months ahead.”
The Financial Services Outlook 2019 analyses the current state and the future development of financial regulation from different regulators and authorities’ viewpoints in particular the Basel Committee on Banking Supervision, BoE and FCA (London); the European Commission (Brussels), ECB and EBA’s impact on Financial sectors in France and Germany and the entire Eurozone as well as the ECB’s overall supervision priorities.
Taking a deep dive into the technological currents underneath the transformational shifts in the business world, the FSO19 sheds some light on the potential impact of phenomena such as Machine Learning, Predictive Analytics, Cloud Technologies, Core Banking Systems and Blockchain.
The future naturally is an undiscovered country, full of unknowns. There are the known unknowns and there are the unknown unknowns. The FSO19 seeks to reduce the amount of the latter by raising the awareness also to issues like the effects of climate change, the end of LIBOR, Brexit uncertainties or the impact of technologies on the industry. The goal is to know what to expect and to be prepared for the unexpected, to take the edge off of possible shocks.
Taking a look into the seeds of time, to say which grain will grow and which will not, the Financial Services Outlook 2019 provides valuable orientation in complex scenarios of interdependent and self referential systems.
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