The lost decade for financial service providers

Technology & regulatory platforms now offer many opportunities – So don’t make the same mistakes now as you did after the financial crisis in 2008. A shout-out by Dr Harald Brock, published in Private Banking Magazin.

The Corona virus is not the first apocalyptic scenario. More or less regularly, crises shake the economic and financial world. This time, however, something is different: it is the first major crisis in the digital financial age.

As is well known, one can learn from mistakes. The goal, especially now in the financial sector, must therefore be to minimise the learning curve of the current exceptional situation and to profit from the mistakes of the past. The positive also today: crises can act like a cleansing storm. Suddenly things and steps are possible that were previously unthinkable. In addition, solutions can be accelerated. Just ducking away will no longer help – not in our digitalised financial world.

Read the full article by Dr Harald Brock and learn more about how financial service providers can use the current crisis to set the course for a successful future.