The deep-seated changes of recent years have given banking the features of a mature industry faced with the declining performance of its traditional business.
Highly regulated and strictly supervised, the banking industry has witnessed a number of major challenges, often associated with technological change, and each one has been added to the industry’s traditional challenge of fierce internal competition.
Banks’ long-standing competition with capital markets has become more intense, largely because of the digital revolution. Fintechs have intensified their activity while major tech platforms have started offering financial services and even announced the issue of new cryptocurrencies as a standard payment method. This approach presents an emerging threat and many feel that some central banks could potentially adopt it.
It is therefore clear that the industry horizon is not free of obstacles or questions, but it is also true that the banking industry, especially the Spanish industry, has demonstrated a notable ability to weather the strong winds of change at different times in the past.
With this balance of concern and hope, the 15th Banking Industry Meeting aims to delve deep into the prospects of this mature industry.