Issue 73 of Businesslife, a special edition on the future of financial services, is now available online.
The digital and technological transformation of the financial services sector is only likely to increase post-pandemic – and will need to be managed alongside further sector changes also taking place at a rapid rate, the latest edition of Businesslife finds.
This special edition on the future of financial services explores how the pandemic has changed customer expectations and the way financial institutions connect with their customers – as well as a range of other emerging trends in the sector.
Jon Watkins, Editor-in-Chief of Businesslife, said: “The financial services sector was already on a transformational journey, with innovations such as AI and geolocation tech modernising the sector.
“Now, that change is happening faster than ever and, with other emerging trends also in play – changing customer demographics, increased globalisation and new skills requirements – financial institutions face a massive challenge to evolve.
“We wanted to explore that in detail – and use the magazine to paint a picture of what the future of financial services will look like.”
Technological advances
This issue of BL looks at some of the specific tech developments taking hold in financial services – and how they are helping organisations stay relevant.
The growth of voice-enabled devices in the home, for example, has many in the sector believing voice services will be the next big thing in banking, for example.
As our feature finds, some players in the market are already offering voice services – and their purpose is far from just making the brand look ‘cool and modern’. The drivers are convenience, accessibility and access to real-time information across financial services providers.
We also explore some of the alternative roles tech is playing in the sector. Here, we find how location-tracking is being used to help protect customers who might need support around gambling addictions, for example, and how it can be used to improve regulatory compliance.
Beyond tech
Tech and digitalisation are not the only areas of innovation and development taking hold in financial services. In an increasingly complex regulatory environment, we look at financial services firms’ strategies for offering a truly global service to their clients – and how Channel Islands businesses in particular are meeting the challenge.
In another piece, we examine whether the rapid race among financial services firms to demonstrate their environmental, social and governance (ESG) credentials is a fad or something that will resonate with clients for the long term.
Future gazing
This issue also includes the second annual Future View supplement – a collection of essays through which Channel Islands businesses leaders share their vision for the future of their sectors.
Elsewhere in this issue…
• How firms can identify the skills of tomorrow when 85% of the job roles we will have in 2030 don’t yet exist
• Inflation – and the consequences of raising inflation on the financial services sector
• How the Covid-19 pandemic has affected the office space market
• The customer of tomorrow and their expectations
• Digitsation priorities at the top of Channel Islands leaders’ agendas
Click here to view our Digital edition online
The physical version of the magazine will be available from its usual distribution points shortly.