Click here to download the full report.
Click here to download the press release in French.
The Association for Financial Markets in Europe (AFME) and PwC have today published a new report on current trends in technology and innovation and their impact on the investment bank of the future.
The report, entitled ‘Technology and Innovation in Europe’s Capital Markets’ examines the key trends which are expected to impact the industry over the next five years, providing a vision for the future and identifying the implications for the industry and for future policymaking.
James Kemp, a Managing Director at AFME, said: “At a time when the industry continues to experience economic pressures, a new regulatory framework and ever-increasing client expectations, our latest report shows that new technologies and innovation will be a significant force in reshaping the industry.”
“While 95% of our survey respondents identified the opportunity for cost reduction as the most important driver for the adoption of technology, only 28% felt that the current investment allocated to this strategic change was sufficient.”
“Policymakers and regulators have a key role to play in promoting innovation and supporting the adoption of new technologies, whilst ensuring that future regulatory frameworks maintain a level playing field and ensure financial stability.”
Isabelle Jenkins, Partner at PwC, said “Our report shows that new technologies will drive changes across investment bank functions, their workforce, and industry partnerships. Success will depend on the ability of investment banks to achieve long-term benefits from new technologies by prioritising investment, looking to collaborate where possible, identifying and developing the skills needed, and building a culture for innovation.”
The report was developed through a survey of representative banks on AFME’s Technology and Operations Committee and supported by additional research from PwC.
Among the key findings from the report are:
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