The financial services sector stands at a potentially industry-defining moment, with Covid-19 having significant impact on the industry. With a better understanding of the impact of COVID-19, Gartner has forecast technology spending in the banking and securities industry to recover in 2021, growing 6.6% globally.
Respected financial analysts are saying that only those that have the ability to create new value, and ultimately new sources of revenue, will see long-term success. Could this be a critical moment for financial services?
Additionally, as the larger, established banks address the financial and reputational challenges that FinTech has created for them — not to mention the continually changing needs of customers during the pandemic and beyond — the financial sector continues to shift. What are the most important issues the modern financial enterprise must address to thrive in 2021?
Elastic principal solutions architect Michael Down will discuss these questions and more with former PayPal CIO Brad Strock:
- How have attitudes already shifted within the sector and have the bigger banks done enough to strengthen their position?
- What is the risk versus reward when implementing innovation at scale?
- What can financial institutions learn from organizations like PayPal who began their journey with technology and data at the heart of their strategy?