Covid-19, the mother of invention?

Howis the pandemic going to change financial services firms’ working practices andtechnology, as well as the regulatory agenda? Neasa MacErlean exploresthe evolving landscape.

Financialservices and its regulation are going to change post-Covid just as much astransport, agriculture and other sectors of the economy. From the Bank ofEngland and Financial Conduct Authority down, everyone realises that atransformation is in progress. Explaining its view in its Business Plan 2020/21, the FCA says: “Thecoronavirus outbreak has changed the world in which we regulate and acceleratedour need to respond.”