Global megatrends shape the operating environment

One challenge faced by the financial sector is the transformation of the operating environment; this includes, e.g., the aging of the population and the shift in working life. These transformations in the operating environment, i.e. global megatrends, are the main thrust of the development that is shaping the structures of societies and companies. 

We are keeping a keen eye on changes in our operating environment. In order to respond to future challenges better, we have identified five global megatrends that significantly influence our operations. We take these megatrends into account in all stages of our value chain.

  1. Globalisation links societies, economies and actors together. The political and economic situation has a major impact on the competitive playing field. International supervision and regulation is increasing, and the sector is expected to react quickly, adapt and display international service know-how. Active monitoring and forecasting of the political and economic situation are highlighted. The financial sector must reinforce solvency, the financial structure and liquidity in order to balance the economy.

  2. Technological development is changing the financial sector in many ways. Customer behaviour is changing and new digital services are being introduced alongside traditional services. It is possible to compile and utilise large volumes of data, which places demands on IT management and especially on information security. 

  3. The financial sector plays a central role in safeguarding well-being in a demographic shift, as general prosperity and the elderly population grow and urbanisation continues. As the elderly population grows, opportunities for personal service must be ensured. Services must take into account the aging of the users. The service offering also outside cities must be taken into account in order to ensure a good customer experience. It is important to promote the operations of vital growth centres by being present. 

  4. The shift in working life is also affecting the financial sector. In working life, workers of different ages and the different ways of working must be taken into account. The importance of personal competence development is growing. It is becoming increasingly difficult to secure the best talents, which means employers must stand out from the competition. 

  5. The scarcity of natural resources and climate change pose major challenges on a global scale. The financial sector is also expected to operate more transparently and sustainably. In addition, demand for financial solutions and products related to sustainable development is growing.