FSIReview - Issue 14 | Deloitte SEA | Financial Services Industry | Financial service, report, perspectives has been added to your bookmarks.
FSIReview: Issue 14
Charting a course for success
Nimble will be the new normal in 2017 as financial institutions confront a marketplace that is changing more drastically than perhaps ever before. There is far more uncertainty than usual over the outlook for economic growth given the United Kingdom’s (UK) referendum to leave the European Union (EU) and President Trump’s decision to withdraw from the Trans-Pacific Partnership and his pledge to renegotiate trade agreements with China and Mexico.
In addition to macroeconomic and regulatory changes likely to impact the industry, financial institutions are coping with longer-term, game-changing trends such as the widespread emergence of FinTech firms. These start-ups are threatening to disrupt financial sectors and services such as lending, payments, wealth management, and property and casualty products.
But there are opportunities for nimble companies to prosper in a rapidly changing business environment. In this issue, we explore strategies to help financial institutions adapt to the winds of change in today’s rapidly evolving, consumer-centric culture, and increasingly technology-driven economy.