Challenges inevitably remain. The biggest drag on growth is likely to be the industry’s continuing skills shortage. Financial institutions are looking at more flexible working patterns that include hybrid and remote working, as well as strategic partnerships.

They also acknowledge that future growth depends on embracing a spirit of partnership and collaboration. Relationships with vendors of various core and non-core services are central to future growth, as is leveraging the expertise from preferred partners who can complement in-house strengths.

Throughout the study the signs are there that financial institutions are looking for growth, new ways of working, and additional data sources to seize the opportunities they have identified – all while building stability, clarity, and certainty into their operations.

It is evidence that the Future of Finance Is Now.