The second annual study in the Future of Finance series by SIX – a barometer of the future expectations of business executives operating across the global financial markets – reveals a sense of increasing optimism as companies gear up for growth.
Whether companies are successful in leveraging this positive spirit will depend on several factors, from how effectively they can integrate emerging technologies, to the rate at which market regulators and financial market infrastructures can adapt to the swiftly evolving market environment. Nevertheless, one thing is certain – financial institutions must act. The future of finance is now.
Growing levels of optimism among respondents are reflected in how companies view their respective positions for growth over the next three years. Globally, a considerable 64% of companies feel they are strongly positioned for significant growth – up meaningfully from 51% in 2022.
Businesses headquartered in Switzerland, Singapore, and the US are most bullish on their prospects for growth, with 72%, 71% and 70% of respondents in these regions, respectively, stating they are strongly positioned. While companies headquartered in the EU and the UK are somewhat less optimistic, they are by no means pessimistic.
Jos Dijsselhof, CEO of SIX, says: “Novel business models are emerging at an exponential rate, digitalization is transforming the way organizations approach age-old processes, and the rapid development of AI will progress.”
For the annual Future of Finance study, SIX surveyed C-level executives across 343 international financial institutions covering asset management, wealth management, asset servicing, retail banking, and investment banking, in the UK, the US, Hong Kong, Singapore, Germany, Spain, and Switzerland. They provide insights about the topics of growth, data and analytics, technology, risk and regulations, and the role of financial market infrastructure providers.
Read the full report: six-fof-2023-24-web.pdf (six-group.com)