Financial Services

Financial institutions operate in a fast-changing environment, with new technologies, regulations, and customer expectations constantly emerging. To stay competitive, financial institutions must develop innovative answers to these challenges.

One way that financial institutions are adapting to a fast-changing environment is through digitalization. Leading banks are digitalizing all internal processes, which enables them to be more agile in responding to changes. Additionally, digitalization has led to a series of reforms in the financial regulatory framework, including new digital models.

Another way that financial institutions are adapting is through strategic investment in new banking innovations. There has been strategic investment in recent banking innovations through crowdsourcing, piloting, collaborations and partnering to develop revolutionary banking solutions. This has led to the development of new regulations and revised banking standards. One notable change that has emerged is digital-only banking.

Covid-19 pandemic also pushed the financial institutions to adopt innovative technologies. Digital technologies are a major enabler of more efficient, more effective, and thus less risky operations in the financial industry.

ESG (Environmental, Social and Governance) issues are also becoming an important area of focus for financial institutions. ESG issues have become a strategic priority for many corporate executives and boards. Financial institutions are facing fast-emerging challenges related to ESG initiatives and investments.

Overall, financial institutions must continually research and develop new products and services that meet customer needs and prove profitable, in order to survive in the new economic environment.

LKPU works with companies across the full spectrum of financial services, including banking, payments, insurance, wealth and asset management, and capital markets, to develop innovative answers for financial institutions in a fast-changing environment.