Financial Institutions Sentiment Survey 2022
Read time: 20 mins Added: 26/09/22
Financial Institutions Sentiment Survey 2022: Up to the challenge
Every year we survey more than 100 senior decision makers at financial services firms including global banks, insurers, wealth and asset managers and more, to get their latest insights into the state of play in the sector.
This year’s report reflects on a year when inflation, the cost of living and war in Europe have combined to throw the economy’s post-Covid recovery off track, forcing action to address rising costs and support struggling clients.
Staying competitive amid rising costs
The report finds a sector showing resilience in the face of a deteriorating economic outlook, which provides some room for optimism, given its status as a bellwether for the wider economy.
Over half expect revenues to increase in the coming year, though three quarters expect costs to grow as the industry faces up to energy and wage price inflation.
Technology and the future of finance
Technology investment remains a top priority as firms seek to improve their customer experience and boost efficiency, though accessing the right skills has become increasingly competitive.
The report also looks at plans to reform regulation and tests the water after the government announced its aim to make Britain a global crypto hub - but finds little enthusiasm for the idea.
Sustainable strategies
We explore the sector’s critical role in addressing the existential challenge of our times; climate change.
While many are pressing ahead – more than half have committed to net zero and set a target date – others are struggling to catch up as regulators take a more robust approach.
For a more detailed look at the research, download our full report (PDF, 2.2MB)
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Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc, Lloyds Bank Corporate Markets plc and Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH.
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