{"id":15081,"date":"2020-06-29T10:38:42","date_gmt":"2020-06-29T10:38:42","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=15081"},"modified":"2020-06-29T10:38:42","modified_gmt":"2020-06-29T10:38:42","slug":"drivers-shaping-the-future-of-finance-in-a-post-pandemic-world","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/drivers-shaping-the-future-of-finance-in-a-post-pandemic-world\/","title":{"rendered":"Drivers shaping the future of finance in a post-pandemic world"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">We\u2019ve already seen some of how COVID-19 has changed our thoughts on the financial industry and how we engage with it. But it\u2019s also important to look toward the future and try to understand what is driving the future of the industry once we move past COVID-19.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Economics<\/b><span style=\"font-weight: 400;\"> \u2013 low interest rates, reduced business activity and an increase in bad debts will drive the industry for some time. This could serve to lay the foundations for more collaborations and business combinations.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Consumers <\/b><span style=\"font-weight: 400;\">\u2013 with individuals and businesses under increased financial pressure, consumer preferences for unanticipated areas may accelerate. This, in turn, could add to the challenge of managing business operations and\/or give an impetus to regulators for more regulations.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Operating models <\/b><span style=\"font-weight: 400;\">\u2013 industry-wide changes to the sector will provoke adjustments to business models, and lessons learned from the crisis will likely lead to the prioritization of \u201ccyber\u201d.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Purpose <\/b><span style=\"font-weight: 400;\">\u2013 the coming decade will pose new challenges beyond digital transformation, yet surprisingly few financial institutions seem prepared for this inevitability. To succeed at increasing their resilience, financial institutions must rethink internal and external strategies, identify a valuable transformation mission for their stakeholders and build in sustainable, transparent and meaningful ways.<\/span><\/li>\n<\/ul>\n<p><b>Regulators <\/b><span style=\"font-weight: 400;\">\u2013 a temporary relaxation of regulators\u2019 focus on promoting competition could change the strategies of financial institutions. This may also apply outside financial services as governments actively encourage firms and industry bodies to collaborate, which would also impact how financial institutions operate.<\/span><\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-15081 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Libra: everything you need to know about Facebook\u2019s cryptocurrency'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/libra-everything-you-need-to-know-about-facebook-s-cryptocurrency\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/08\/facebook-libra-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13549\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13549'>\n\t\t\t\tLibra: everything you need to know about Facebook\u2019s cryptocurrency\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Fintech Solutions Can Help Consumers Achieve Financial Wellbeing'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/fintech-solutions-can-help-consumers-achieve-financial-wellbeing\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2023\/02\/cabe7c70-3aed-462b-cf4a-85f6410f441e1-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-16994\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-16994'>\n\t\t\t\tFintech Solutions Can Help Consumers Achieve Financial Wellbeing\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Digital transformation risks for Russian financial institutions'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/digital-transformation-risks-for-russian-financial-institutions\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2020\/07\/2b5d6768-d6a0-44f2-851a-d4256bdffb021-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-15132\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-15132'>\n\t\t\t\tDigital transformation risks for Russian financial institutions\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>We\u2019ve already seen some of how COVID-19 has changed our thoughts on the financial industry and how we engage with it. But it\u2019s also important to look toward the future and try to understand what is driving the future of the industry once we move past COVID-19. Economics \u2013 low interest rates, reduced business activity &hellip;<\/p>\n","protected":false},"author":12,"featured_media":15082,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,16],"tags":[503,552],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/15081"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=15081"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/15081\/revisions"}],"predecessor-version":[{"id":15083,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/15081\/revisions\/15083"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/15082"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=15081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=15081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=15081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}