Four Clues To The Future Of Financial Services Firms And Fintech

As I write this, I can’t help thinking about what my ‘new normal’ looks like. The less than perfect moments involve me turning around and yelling at the dog to stop barking at the rare person who goes past our front door; he is both interrupter and sometimes star of my client video conferences. Obviously, my request is futile.

According to a canine expert friend, my yelling sounds to the dog like a joyous bark and therefore encourages more of the same. It’s all a very different state to a month ago, when I was sitting in our Manhattan office, reflecting on a client meeting and thinking how important it had been to sit together and talk things through face to face.

So what could this new normal mean for the longer term, and how will it change our behaviors? Over the past two weeks, my team and I have spoken to senior executives across the banking and finance industry. We wanted to understand how they are operating their businesses in this new state, and then consider how these recent experiences could influence or change their future plans, priorities or approaches to solving problems. What is clear is that it is not whether, but how, business will change. These are the four points that came out most strongly.

Acceleration: This appeared initially counterintuitive, as many clients are reprioritizing projects and delaying others. However, when people had to get things done, the speed with which it happened was phenomenal. Artificial constraints no longer seem like the obstacles they did in the past, and this sense of urgency can be channelled into other projects.

Read more @Forbes