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Looking at banking through the windscreen - the trends affecting the industry in 2022

Looking at banking through the windscreen – the trends affecting the industry in 2022

My car is currently having its windscreen (windshield) replaced. I’m sat on an uncomfortable chair in a small waiting room with no other occupants. On the wall there are two notice boards, one devoted to ‘News and Views’ and the other to ‘Health and Safety’. There’s a TV too, but it’s not switched on and I’m not bothered, as I’ve got Spotify to entertain me. In the corner sits a chemical spray device, which I’d normally associate with killing weeds in the garden (yard) but instead recognize as a means by which to sanitize the premises with a mist of disinfectant. It’s misty outside too, being a typical late December day in the UK, grey and gloomy but not particularly cold. 2021 is nearly over. As I write this sentence, 2022 is precisely 1 day, 14 hours, 36 minutes, and 30 seconds away. For auld lang syne, my dear, for auld lang syne.

I’ve already looked at banking in the rear-view mirror, assessing how firms coped with the challenges of doing business in difficult conditions. Now is the time to look forward and see what lies ahead. The playlist I’m listening to contains a couple of songs by Pearl Jam. Their debut studio album, Ten, was released 30 years ago, which makes me feel nostalgic (and old). But I’m still alive. And I have ten trends to share. I’ll keep this brief, as the technicians shouldn’t take too long to install the new glass.

Here they are.


  1. Extending AML – Banks will make greater use of advanced analytics and artificial intelligence to detect suspicious patterns of illicit money movement, with particular focus on human trafficking.
  2. Fighting Fraud – Banks will use all means necessary to combat crime as fraud vectors shapeshift in line with changes in behavior.
  3. Restarting Lending – Banks will make additional funds available to borrowers and partially offset earning pressures, but firms must remember to lend responsibly across the span of products, from mortgages (secured) to buy now, pay later (unsecured).
  4. Minimizing Exposures – Banks will remain vigilant at the prospect of previously performant loans becoming problematic.
  5. Improving ESG – Banks will turn promises into actions and deliver meaningful and measurable results related to Environmental, Social, and Governance activities.
  6. Addressing Climate Risk – Banks will take this seriously by putting the proper data, processes, governance, policies, models, and infrastructure in place.
  7. Injecting AI – Banks will continue to improve operational capabilities in the front, middle, and back office through the extended use of artificial intelligence and machine learning.
  8. Developing Hyper-Personalization – Banks will harness real-time data to generate insights, using a combination of behavioral science and data science to deliver context-specific services, products, and pricing.
  9. Migrating Workloads – Banks will shift activities to the cloud in pursuit of improved agility, flexibility, scalability, and efficiency.
  10. Expanding Ecosystems – Banks will accelerate the development of relationships with xtech* and bigtech partners, while Banking as a Service becomes more prominent, with licensed banks integrating their digital banking services into the products of non-bank businesses.


I could be wrong; I could be right. I doubt I’ll be writing the review article in a waiting room the day before New Year’s Eve. But who can say for certain?

What I do know is that my car’s ready and it’s time to leave.



*fintech, paytech, regtech, wealthtech, etc.



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Alex Kwiatkowski

Alex Kwiatkowski

Director, Global Financial Services


Member since

19 May 2016



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