Rising inflation across the U.S., UK and the Eurozone is creating massive pressures across global markets, especially the financial services industry.
We’re seeing a reduction in the breadth of credit products, like mortgages, as they become more unaffordable. Meanwhile, defaults are increasing – and will continue to do so as people struggle with the cost-of-living crisis. This will put more pressure on business profits, creating a greater need for operational efficiency.
It's challenging to know where the economy is in the recession-recovery cycle and what changes an organization needs to make to its strategy. Financial service firms need to look at concrete changes they can make – including to their operating model – to get through the next few years of turmoil.