Financial Services Finds Another Gear

According to the Office for National Statistics, the financial services sector contributed £132 billion to the UK economy in 2019, representing almost 7 percent of total economic output. As part of a new research series on the great opportunity debate, in collaboration with YouGov, the Capita Institute recently published its first quarterly report examining the impact of the pandemic over the last 12 months.

Capita asked 350 senior decision-makers across financial services (specifically retail banking, investment banking, wealth and asset management, and insurance), government and critical infrastructure sectors to share their views.
Key points include:
  • 66 percent of those working in financial services put the move to remote working in the top three biggest events that most impacted their organisations in 2020.
  • 29 percent of financial services organisations are now collaborating more with other organisations than they were pre-pandemic, whilst 60 percent said they are collaborating in the same ways as before.
  • While a fully remote service suits many people, some have needs that can only be met by human interaction, whilst some of us simply prefer it that way.

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