What banks should prioritize to prepare for growth
In 2023, banks proved they could weather the storm of high interest rates and an uncertain market — but 2024 will come with new challenges to navigate.
In this podcast episode, Grant Thornton Banking Industry Principal Graham Tasman describes the topics that banking leaders should keep top of mind in 2024:
- Interest rate risk remains a focus for the industry, but there is optimism about the possibility of rate reductions in 2024.
- While the lending market remains uncertain, banks that invest in technologies and platforms that create efficiencies will be better prepared to seize future opportunities.
- Regulatory compliance requirements continue to grow, and a risk-based approach will help banks prepare.
- M&A activity may continue to be muted into 2024, pending the continuation of high interest rates and regulatory approval timelines.
Tasman shares key insights and opportunities to help leaders in the banking industry prepare for 2024.
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