2022 banking and capital markets outlook

Banks are at a make-or-break moment.

The pandemic was the ultimate gut punch, testing banks’ resilience in unforeseen ways. Yet, they are emerging stronger. And they now have a newfound conviction: They can overcome almost any challenge that comes their way.

But how can they channel this new energy to scale greater heights?

Before embarking on this journey, banks should take account of the tectonic shifts reconfiguring the global financial system: phenomenal growth in digitization, convergence of industries, fusion of technologies, proliferation of increasingly intertwined ecosystems, and the blurring of product constructs.

Look no further than the explosive digital assets market. The new financial architecture created by digital assets will have profound consequences for banks by revolutionizing how money is created, transferred, stored, and owned.

Simultaneously, powerful undercurrents are forcing banking leaders to reckon with the never-before-seen challenge of redefining the workplace and how work is done. To complicate matters, they are grappling with several upheavals in the workforce, not least of which is the escalating war for talent. Employees, for the first time in decades, appear to have the upper hand, especially in sought-after positions.

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