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What’s in Store for 2024: Predictions for Financial Services
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2023 was a disruptive year in financial services, with 2024 poised for continued evolution.
Keeping pace with technology trends, emerging regulations, rising customer expectations coupled with growing fear for fraud and other financial crime will be the central challenge for the industry in 2024 and beyond.
Despite great strides towards digitalization, our 2023 KYC Trends report highlights that the slow pace to transform is hampering growth for many financial institutions. Firms find themselves caught between the rising cost of key compliance processes and enforcement actions for non-compliance set to hit an all-time high.
This paradox coupled with longer onboarding times and high client abandonment, has made operational effectiveness and efficiency never more important.
To explore these critical industry forces poised to shape 2024, watch the robust discussion where we delve into:
- Transforming technology and the promise of AI
- Converging market players and business resiliency
- Geopolitical uncertainty and rethinking risk
- Emerging compliance obligations and regulatory hurdles
- Workforce dynamics and compliance skill gaps