4
With the rise of financial technology, the financial services industry is faced
with difficult decisions about how to remain competitive in the market and which
technology aligns with their strategic goals. The landscape is changing, and
companies within the financial services industry have the opportunity to use it to
their advantage. Shearman & Sterling will be with you every step of the way.
REGULATION
Technological change is happening at a time of intense and
unprecedented regulatory change, and it is driving strategic
priorities with a focus on streamlining processes, automation
and profitability. It is key to understand the impact of these
changes on your business.
DIGITAL BANKS
In the next 10–15 years, banks' physical branches are
likely to continue to disappear with a corresponding rise
of mobile banking apps. Some predictions show financial
institutions losing loan business to online platforms over
the next five years.
CONSORTIUMS
To reduce the cost of creating new technologies, acquiring
new talent and enhancing operations while improving
efficiency, some financial institutions are forming consortiums.
Proprietary customization is still required, and advice from
competition and antitrust lawyers is critical in such venues.
CHANGING
LANDSCAPE
