January 22, 2024

Fintech Herald

Banking leaders get back to basics for 2024

Get ready for the year of the dragon. According to the Chinese calendar, this symbol will define 2024 and is characterised by power, nobleness, honour, luck, and success in traditional Chinese culture. The dragon, according to several sources, is a “supernatural being with no parallel for talent and excellence.”

In the UK payments and banking industry, we will need all of that. A challenging set of macroeconomic conditions, continued geopolitical unrest and ongoing regulation changes will ensure that. As we have seen in the postponement of the New Payments Architecture initiative, banking leaders are more concerned with the basics this coming year than expected. The focus will be on gaining efficiency and making as much progress toward digital transformation as possible.

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