What will next year bring to private banking?
2021 was a year none of us will forget, despite some of us wishing we could.
Lockdowns and pandemics dominated news agendas, but in a twist, many of us were brought closer together. This was either by being locked in a house with one another or seeing into our friends’ homes for the first time via video chat, some people did grow closer.
Engagement changed forever and private banking must realise and embrace that.
This brings the sector to legacy systems and digital upgrades. Do you tinker away slightly or do you go for the entire overhaul, throw everything out? These are crucial questions every bank needs to answer in order to stay relevant, nubile and quick.
ESG will remain top of many agendas in 2022. At the top of ESG’s agenda? A return on investment.
Embedded finance is likely to be a buzz phrase over the next 12 months and we will be told again and again that it is what clients want. We will not be told this by the clients.
Wealthtech will prosper and some firms may even see healthy offers thrown their way. We could even see the rise of wealthtech unicorns.
At the end of the year, all that’s left to say is thank you to the readers of PBI, for all the support and conversation. See you next year, when we will be covering the biggest stories and trends in private banking, as we do every year.
Happy holidays.
Patrick Brusnahan, editor