The Global Financial Markets Association (GFMA) 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 Global 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.
Kenneth E Bentsen Jr., CEO of the GFMA, said: “Global investment banks are embracing opportunities to enhance the current operating environment, enabling firms to build out systems to meet global regulatory requirements, evolving client expectations and serving clients in jurisdictions they want to do business. In order to take advantage of the opportunities in this developing environment, banks are prioritizing investment in technology and innovation. Policymakers and regulators have a key role to play here by promoting innovation and supporting the adoption of new technologies, whilst ensuring that future regulatory frameworks maintain a level playing field and promote integrity of capital markets and 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 prioritizing 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 regionally at AFME, ASIFMA and SIFMA, to provide a collective view globally of developments impacting capital markets. It was supported by additional research from PwC.
Among the key findings from the report are:
Click here to download the full report