The financial services industry is getting ready for a challenging 2023 as recession fears and geopolitical tensions cast a shadow over the world economy. To withstand the storm, how will industry leaders use their data and advanced analytics? Leading industry experts from SAS make predictions on what consumers, financial institutions, and those responsible for their protection can look forward to in the upcoming year.
What trends will have the biggest effects on #FinancialService in 2023? SAS experts made a year-ahead prediction. #predictions2023
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Reliability increases
“2023 won’t be a chaotic year. In fact, some level of predictability will return in 2023. It was believed that this once-in-a-lifetime pandemic would have negative economic effects, including pent-up demand, competitive labour markets, and supply chain issues. Combining these elements was bound to fuel inflation, necessitating rate increases as a logical course of action. As the globe works through the aftermath, expect rising delinquencies in retail and commercial portfolios as well as heightened market volatility. The day will be ruled by thorough scenario analysis, close to real-time monitoring, and overall organisational agility.”
Director of Risk Solutions Consulting Anthony Mancuso

Source: Prnewswire