2023 Global Outlook for Banking and Financial Markets

Creating digital advantage for uncertain times.

Geopolitical uncertainty. Recessionary environments. New competitors. Sustainability pressures. As we enter 2023, banking and financial markets enterprises are fighting some strong economic headwinds.

While financial services institutions cannot control disruption, they can set themselves up to respond versus react. For example, traditional business models were not designed for highly digital economies and consumers. Neither were monolithic legacy architectures.

The 2023 Global Outlook for Banking and Financial Markets discusses how financial institutions can improve financial performance in today’s economic conditions.

“Technology is a deflationary force against today’s uncertainties. It’s also a conduit to new revenue opportunities.”

The report not only lays out the headwinds to expect but also the measures to consider for an agile business response in 2023. A few highlights:

  • The next systemic crisis could be an operational one. What should financial firms do to prepare?
  • Why turning the traditional banking business architecture on its head is a good idea
  • The geopolitical risks that could have the most impact for financial services in 2023

IBM experts pondered the investments made by key financial institutions in every jurisdiction, client lessons learned, and new ways forward. They lay out a vision for a strategic business response, looking at growth and performance opportunities, cost and efficiency benefits, and risk and compliance requirements.

In all of these areas, C-suites look to respond rather than react. To learn what sits at the heart of banking and financial markets business resilience in 2023, download the report.

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Meet the authors

Shanker Ramamurthy

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, Managing Partner, Global Banking & Financial Markets, IBM Consulting

John J Duigenan

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, General Manager, Financial Services, Banking, Financial Markets, and Insurance Global Industries, IBM Technology

Paolo Sironi

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, Global Research Leader, Banking and Financial Markets, IBM Institute for Business Value

Diane Connelly

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, Industry Research Leader, IBM Institute for Business Value

Connor Loessl

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, Senior Managing Consultant, Core Banking & Payments, IBM Consulting

Originally published 16 January 2023