Financial Institutions Sentiment Survey 2020: Looking beyond lockdown

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Added: Date: 25/09/2020

This interactive report reveals some fascinating insights into how firms have been impacted by the Covid-19 pandemic, their post-lockdown strategic plans and why notable initiatives, such as sustainable finance, are moving up the agenda.

We’ve surveyed more than 100 senior decision makers at global banks, insurers, wealth and asset managers and more, to get a deeper understanding of the factors impacting the UK financial services sector during one of the most turbulent years in living memory.

By clicking on the panel above, you can navigate your way through the full research quickly and easily.

The topics covered include:

The impact of Covid-19 on financial services

The report finds a sector, which has leant into the unprecedented economic impact of the coronavirus pandemic, experiencing a combination of optimism and caution both for itself and the wider economy.

UK financial institutions have shown resilience in the face of Covid-19, despite an uncertain economic outlook. Indeed, the majority of firms, at the time of writing, still expect to maintain or grow revenues and jobs in the year ahead.

How technology will continue to drive the sector’s prosperity

Technology remains the top investment priority for the UK financial services sector as firms seek to drive efficiency, improve customer experience and grow market share in an increasingly competitive environment.

Cybersecurity, the cloud and Application Programming Interfaces (APIs) lead the way in investment priorities for firms. Interestingly, the excitement around blockchain acquisition has faded since 2019, quite possibly signifying firms’ aims to embed and drive value from previous investments.

Spotlight on sustainable finance

The sector’s commitment to sustainability is sincere and substantial. Many respondents of the survey said environmental sustainability was a priority, implying that it is core to their overall strategy and accountability.

Financial institutions have an opportunity to collaborate and lead systemic changes that are needed to support this transition, though finding the right people with the relevant skills and expertise presented an ongoing challenge.

For a more detailed look at the research, click on the panel at the top of the page.

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