Financial Services Risk and Regulation Unravelled Podcast
Episode 72: Financial Services challenges and trends
Mar 13, 2025
In this insightful discussion, Paul Garbutt, Rob Benson, and David Morrey from Grant Thornton delve into the future of financial services leading up to 2025. They explore the evolving regulatory landscape and the impact of technology and innovation, particularly in AI and insurtech. The trio also addresses the challenges faced by the insurance sector amidst geopolitical tensions and climate risks. Furthermore, they analyze the implications of rising interest rates and the importance of effective governance in navigating macroeconomic uncertainties.
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Quick takeaways
- Financial services firms must balance innovation while managing regulatory compliance as evolving policies and leadership uncertainty challenge their growth.
- Legacy regulatory issues in the insurance sector necessitate prioritizing customer trust and regulatory compliance to foster better outcomes and drive growth.
Deep dives
Navigating Regulatory Change and Growth
The discussion highlights the challenging balance financial services firms must strike between pursuing innovation and managing regulatory compliance. Regulatory bodies are increasingly prioritizing growth in the UK financial sector, which complicates firms' ability to address past conduct issues while fostering innovation. With significant leadership changes expected in regulatory organizations, there is uncertainty about the direction policies will take. Firms are encouraged to actively engage with regulators to express their concerns and perspectives, particularly in areas such as motor finance, where collaboration could shape future regulations.
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