FSIReview: Issue 12

The financial services industry is at the brink of disruptive innovation. While disruptive trends may not take shape until the longer term, 2016 will undoubtedly provide new challenges that executives need to stay in front of. From the Internet of Things (IoT) to cyber risk and the changing regulatory landscape, executives will have their hands full.

The forces of regulation and technological development are having great influence on the industry both in the short- and long-term. The articles in this issue of FSIReview identify some of these challenges to help our readers seize opportunities through the change and uncertainty.

We begin with an outlook for financial services regulation by the Deloitte Asia Pacific Centre for Regulatory Strategy. The Centre has identified four major regulatory themes for the Asia Pacific financial services industry in 2016, all of which reflect the influence of the G-20-led post-crisis international regulatory reform on the Asia Pacific region. We provide a high-level view of the themes that Asia Pacific institutions should be considering for action both internally and within the broader policy context.

Next, we examine the key drivers of M&A activity going forward in 2016; specifically, market disruption and technology; consolidation and growth; and regulatory change. Looking at recent M&A activity, the article highlights key predictions on how these trends will impact M&A across the different sectors in financial services for 2016.

IoT is expected to have an enormous impact on the financial services industry, generating a range of future opportunities emerging from better data about clients and their physical assets. We explore future scenarios for IoT in financial services.

Cyber security threats are not just for information technology specialists anymore. Today, cyber security is drawing attention from the very top, and it has become a huge concern for corporate boards. We provide insight on how boards can begin building a cyber secure organisation. We also provide an overview of how the Personal Data Protection Act (PDPA) will affect companies in Singapore and what consumer banks, in particular, can do to protect themselves.

We round things off with a special report discussing how the recent strong global impact of weakness in the Chinese economy has solidified China’s position as a powerful economic force and how the economic influence of other Asian countries - including India, Japan and South Korea - continues to grow.

To receive a copy of the report, please drop us an email at sgindustries@deloitte.com.