Financial Institutions

Industry Overview

Financial Institutions

Building Resilience to Support Growth

Expanding global wealth and advancements in technology provide financial institutions with opportunities to grow in new markets, but also create risk and human capital challenges that require innovative solutions.

From the volatility created by climate change to geopolitical and financial headwinds to significant organizational threats in the form of regulatory pressures, cyber threats and shifting workforce expectations, the pressure is on across the industry.

The key to achieving success will be agility and resilience. Organizations in the industry face the challenge of assessing and managing their approach to both human and operational risk—including, adopting greater agility through innovation, anticipating future exposures and optimizing risk management to create the organizational resilience necessary for growth.

Top 5 Future Risks

Looking ahead to 2024, predicted risks for the financial institutions industry include:

  • 01

    Cyber Attacks / Data Breach

    Cyber attacks are, and will remain, a top risk across all geographies and industry sectors. All leaders need a cyber game plan.

  • 02

    Economic Slowdown / Slow Recovery

    Despite a fast economic rebound from the initial depths of the pandemic, uncertainty, fueled by inflation, rising interest rates and bank closures, still reigns.

  • 03

    Counterparty Credit Risk

    As interest rates climb and access to capital tightens, counterparties are now at greater risk of default.

  • 04

    Regulatory / Legislative Changes

    While banking regulations have eased in some areas, climate, digital asset, ESG, and privacy-related rules are generally growing tougher.

  • 05

    Failure to Innovate / Meet Customer Needs

    Fueled by the rapid digitalization of daily life, no industry is immune to changing consumer behaviors and expectations.

Article

A Game of Cat and Mouse: Outpacing Cyber Threats Across Industries

Business leaders at life sciences firms, financial institutions, technology, media and communications companies, and food, agribusiness and beverage organizations all face a surge in cyber threats and data breaches.

Insights for HR

This collection is a set of featured articles.

Cyber Labs

Stay in the loop on today's most pressing cyber security matters.

Environmental, Social and Governance Insights

Explore Aon's latest environmental social and governance (ESG) insights.

Insights for HR

Explore our hand-picked insights for human resources professionals.

Insights for Risk

How to build a resilient workforce fit for the future

Navigating Volatility

How do businesses navigate their way through new forms of volatility and make decisions that protect and grow their organizations?

Test Collection

Test Collection

Test Taxonomy

Short Description

More Insights

View All Insights
View All Insights
How Aon Can Help
View All Capabilities
Subscribe CTA Banner