Challenged but undaunted, trends that are likely to shape banking in 2024
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Banking and Capital Markets
In the age of compound volatility, the banking sector finds itself navigating a myriad of near-term challenges while keeping their eyes trained on their longer-term goals. The year ahead is shaping up to be defined by geopolitical instability, an evolving regulatory environment, and a muddled economic picture. Despite the challenges, our 2024 banking trends strikes an optimistic tone as the future could bring good news. With each trend, we cover the challenge but also share reasons for positive change. As we see it, the banking industry in 2024 is challenged but undaunted with brighter days in the year ahead.
2024 Banking trends
1
Growth environment
The banking sector faces headwinds in 2024. First and foremost are macro- and microeconomic challenges.
2
Digital transformation
Investing in digital transformation in the banking sector will continue in the year ahead as banks seek to enhance the customer experience and modernize technology platforms.
3
Regulatory intensity
The financial services industry is experiencing a level of regulatory intensity rarely seen before and the impact from this intensity is being felt across the sector.
4
Workforce expectations
While being at the forefront of the return to office trend, bank officers also acknowledge the need to balance flexibility with the advantages of in-person interactions.
Dive into our thinking:
2024 banking trends
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