The FIS Readiness Report 2018 has been launched.
Across the financial services industry, institutions are grappling with regulation, margin pressure, a new world of risk and the increasing need to differentiate themselves.
Revenue models are under threat. Sell-side firms face restrictions on proprietary trading, reduced opportunity for off-balance sheet lending and the increased automation of trading across asset classes. Asset managers, meanwhile, continue to be threatened by passive firms that can offer rock-bottom fees as a result of automation, and the rise of InsurTech is disrupting the insurance industry.
With prominent Wall Street CEOs claiming that they’re now building technology companies rather than financial services firms, an industry arms race is under way. Growth models will increasingly rely on the sophisticated use of new technologies.
To win in this environment, financial services firms need to be discerning about where they pursue growth and modernize the operating model. This means laying the operational foundations to enhance efficiency and strengthen data management, but it also means taking a new approach to digital innovation and embracing emerging technologies to create new value for clients.
To read the Readiness Report please visit www.fisglobal.com/fis-readiness-report.