Frontiers looks at the key challenge for financial services management – having the courage to change.
The articles in this edition of Frontiers in Finance illustrate the huge scale and pace of the changes taking place in the global economy, and the complexity of the challenge which these external changes impose on the financial services industry. Some are driven by technology, from how data is changing the way we service customers, satisfy the regulators and undertake stress testing, to how technology can strip out costs, streamline processes and disintermediate roles. Others are demographic, transforming customer needs, attitudes and demands.
Another fundamental challenge is how to secure growth and profitability in a low interest rate environment, whether this be through new markets or through the development of new products and services. These create a key challenge for management: how to create a management team with the right capabilities in the organization to manage complex, multi-dimensional change.