Consumer, Investment Banking and Private Equity Experts Weigh In
LANE issued its first Financial Services Outlook Report. Developed with the input of experts in consumer banking, investment banking and private equity, the brief provides insights to anticipated changes in the year ahead as well as some of the communications challenges that may arise.
“Competition in the financial industry is only intensifying, and many of our clients and experts are focusing on how they can maintain their competitive edge,” said Amber Roberts, a senior partner and lead of the financial services practice area in the LANE division of Finn Partners. “In addition to the standard competitive threats, our panelist are watching other areas that could disrupt the current state of their businesses, such as the new and unconventional administration as well as rapid advancements in technology.”
Key Developments Anticipated for 2017
Overall, experts expressed surprise not only at the outcome of the presidential election in 2016, but also at the positive market reaction. Given the pro-business signals from the new administration, professionals across the financial services industry are paying close attention to how those sentiments could translate into action, such as a relaxation of regulations.
LANE’s panelists are also looking for more rapid changes across the industry that can be attributed to technological advancements, particularly in consumer banking. While some may feel that fintech, as a term, has been overused in recent years, little doubt remains about its potential for disruption. Consumers have become accustomed to having a variety of products and services at their fingertips 24/7, and financial services companies are being pressed to keep up with innovation.
Additional highlights from this year’s trend report include:
Panel of Seven Industry Experts
LANE turned to seven professionals across the financial services industry to develop the 2017 issue of the report.
For an in-depth look at the trends in each expert’s field, access the full 2017 Financial Services Trend Report.
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