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Frontiers in Finance Issue 61

If change is the only constant, then transformation is the only option. And so it is for Financial Services executives around the world. Massive changes — in business models and operating strategies, in regulatory environments and customer expectations, and in technologies and competitive advantages — are sweeping across the marketplace. Banks, asset managers and insurers are all looking to seize the opportunities.

This edition of Frontiers in Finance explores some of the great challenges now facing Financial Services executives as they strive to balance their short-term objectives against their longer-term transformation imperatives. As organizations move to re-evaluate, re-imagine and re-define their business models and operating strategies, this edition offers some insights to help executives create and execute sustainable transformation in an ever-changing world.

The articles in this edition are concentrated around three main drivers of change: the desire for efficiency; the shift to digital; and the evolving regulatory environment. Yet the lessons being shared by the banking, asset management and insurance leaders interviewed for our articles are broadly applicable, regardless of the change pressures your organisation is facing.

Some of our articles — such as our cover story with Paytm Lab’s CEO or our interviews with MUFG’s Head of Global Transaction Banking and with the Head of Global Consumer Business at Goldman Sachs — offer deep insights into the pace and scope of the change that is now underway across the industry. Others, such as our articles on the changing nature of M&A, the introduction of IFRS 17 and the drive for improved operational excellence, take a focused view of the new strategies at play within key areas of the financial services organisation.

What this edition of Frontiers in Finance clearly shows is that the leaders are not waiting for clarity on what exactly the future may hold; they are taking bold steps and making radical changes to their businesses to find and create their own opportunities for transformation and growth. This edition provides practical ideas on how they are doing it.

On behalf of KPMG’s global network of financial services professionals, we would like to thank all of the executives and business leaders who took the time to share their thoughts, experiences and insights with us. If you would like to learn more about the issues raised in this edition of Frontiers in Finance, or to discuss your own unique transformation opportunities, we encourage you to contact our Financial Services team.