In this report, KPMG subject matter experts provide predictions for the banking industry across 11 key areas. A number of key trends cut through all of the articles.
Firstly, there is the issue of talent. Our clients have told us that the shortage of talent is proving to be more severe than in previous years and they are facing difficulties in obtaining specialist expertise. The attraction and retention of talent will therefore be a major priority for banks.
Technology investment is also a constant theme. While digital transformation has already been ongoing for many years, it remains a key focus for banks. This is evident in areas such as customer experience, operations, regulatory compliance and risk management.
Lastly, we expect that ESG will become important for all stakeholders in a bank, investors, customers, employees and increasingly the regulators too. ESG will change how banks are operating internally, but also how they interact with customers externally.