Published: 21 March 2020
Author: Susanne Chishti for Business Reporter
How can top financial services management embrace diversity and financial technology innovation while facing the potential risk of a global recession triggered by the Coronavirus pandemic?
The financial services sector is evolving rapidly, with a growing number of new entrants in the form of fintech start-ups and tech giants disrupting the status quo. Many fintech companies compete with established financial players, while other business-to-business fintech firms look for collaboration opportunities. Running a successful bank, insurance company or asset manager has never been harder, with so many competing financial and non-financial targets to be met in a highly regulated environment – and many strategic options for strengthening an institution’s competitive position exist.
On top of that decreasing trade flows have already reduced the economic outlook due to the coronavirus pandemic, led to a capital markets crash not seen since the last financial crisis and the risk of a global recession becoming more likely.
At a time of crisis leadership matters. What all financial organisations have in common now is that corporate governance and the role of their boards becomes more important, especially in today’s world, with pressure on profit margins, faster market cycles, constantly changing customer demands and complex and costly compliance and regulatory environments.
Read on in this Business Reporter article.
Susanne Chishti is the Founder and CEO of FINTECH Circle and the FINTECH Circle Institute.
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