According to Deloitte there is a strong likelihood of a new global economic order. Global banks must reposition themselves to cater for uncertainty.

Open banking and the rise of fintechs are changing the world of banking. Established financial institutions may have ridden out many of the changes so far, thanks to their banking licences and consumer trust, but fintechs and challenger banks are steadily eroding market share.

The banking, financial services and insurance sector is facing unprecedented change and uncertainty. At a time when many organisations are looking to reduce costs and gain market share, increased competition has arrived in the form of agile start-ups.

Fintech innovation is disrupting and helping to transform all kinds of business sectors, from banking and lending to employment services and travel. Innovation is geared both to creating efficiencies and improving the customer experience.

Up to now, banks have retained customers by being the safe all-rounders, while challenger providers have filled the gaps in great customer experiences. To keep offerings feeling enticing and invaluable, digital-first financial providers need to continue thinking outside of the box.

The days of the Chief Financial Officer being seen primarily as a bean counter have been receding for some time. Instead CFOs are increasingly occupying a strategic role tied to the insights and empirical data that they can bring to strategic planning.

Finance has come a long way from a reporting function balancing the books, to a data-driven decision-center and a human-machine ecosystem with new skills requirements and competencies. Is the future of finance new technology or new people?

There’s big value potential in the cloud, but financial institutions with a piecemeal migration strategy may be missing out on capturing its full value.

NovaFori’s interviews with more than 30 industry leaders surfaced a range of business challenges; from pricing, to market culture through to sales methodology. Digital transformation is offering great opportunities, both internal and external, meaning B2B consumers expectations are rising.

The hydrocarbon sector faced renewed challenges in 2020. The new decade began with fears about the impact of the coronavirus, the China-US trade deal and tensions in the Middle East. Massive new regulations reducing ship emissions also came into force.

How to transform your organization after ERP implementation

Even as banks eagerly snap up fintech companies, they need to know the problems these deals can bring—and plan ahead to avoid them.

A new global economic order seems imminent. Banks globally can chart a path through the current fog of uncertainty to reposition for a brighter future.

We’re looking towards the future with eight predictions for the finance function of 2025. The technologies needed to reimagine finance are here and they will only get better. It’s crunch time.

The business landscape is changing rapidly. Despite strong market performance, traditional commercial insurance business models are coming under pressure.

How to unlock working capital efficiencies as inflation compounds supply chain disruption.