“It is commonly accepted in financial markets that by being open to innovation, institutions are more likely to succeed,” says Jos Dijsselhof, CEO of SIX.
Senior executives in the banking and financial sectors around the world are cautiously optimistic about the economic outlook, with the majority recognizing that their organizations will need to make adjustments to achieve growth, according to new research from the financial services provider. Swiss and Spanish SIX stock exchanges.
More than half (53%) of global finance executives expect the economic environment to improve in the coming year. Of the remaining 47%, 40% expect current market conditions to remain unchanged. These figures come from the study on the future of finance. This survey carried out by SIX each year interviews senior executives from 293 financial institutions around the world.
This optimism is tempered by the fact that the majority of respondents are aware that their companies will have to continue their efforts in order to exploit the growth potential they see. In line with a trend observed in 2023, companies based in Singapore (53%) and Switzerland (53%) are most optimistic about the strength of their own positions, while asset managers (60%) %) and investment banks (62%) are the types of establishments that most strongly perceive the need to take steps to achieve growth.
When it comes to key success factors, the adoption of other asset classes (35%) rose from third in 2023 to first in 2024, dethroning the implementation of artificial intelligence (AI) , which fell to fourth place in the overall rankings, after seeing strong interest at the time of last year’s survey. Distributed ledger technology (DLT) (34%), up two places since last year, and embedded finance (33%), up three places, complete the podium.
Although financial institutions around the world generally forecast favorable conditions for growth in the coming years, they also cite several factors that are expected to pose a challenge. It’s no surprise that geopolitical uncertainties top the rankings, with more than a third of respondents considering them a major challenge (34%). The inability to adopt new technologies (31%) and the slowdown in the global economy (31%) come in second and third place, respectively.
“It is commonly accepted in financial markets that by being open to innovation, institutions are more likely to succeed,” says Jos Dijsselhof, CEO of SIX. “Meeting the needs of capital markets firms through a continuous provision of choice is an area in which financial market infrastructure providers must perform well. In this way, we will always be able to help organizations to be globally competitive and able to face the challenges of the moment.”
The full 2024 Future of Finance study, comprised of four chapters covering growth, data and analytics, technology and capital markets, is available in clicking here.
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