A report by TheCityUK and PWC calls for more decisive action to make sure financial and associated professional services remain the world’s best. The report is concerned that while insurance and professional services are outperforming, overall industry growth has flatlined. It calls for a variety of actions, including:
- leading the world in tokenised assets;
- accelerating roll out of a consumer-friendly digital and corporate identity for financial services;
- digitising processes such as SME lending;
- matching the pace of global reform of wholesale markets to create a more proportionate framework;
- radical simplification of regulation, supervision and governance;
- to put financial services at the centre of the UK’s trade strategy; and
- to build a nation of investors.