The rise of the private credit ecosystem is fundamentally changing the debt capital markets and it will eventually affect all aspects of financial services.
Long-standing stereotypes of financial institutions are being tested. The traditional barriers that drove sector predictability for decades are breaking down. Industry convergence is real and it’s changing the flow of capital and the status quo, requiring a fresh strategic view.
Financial services
What will be left of financial services tomorrow?
In this multi-shock world that’s reshaping FS, resilient companies will focus on having the data, analytical capability and leadership to pivot toward opportunity – and away from risk. We outline three factors where you can create value.
Overview
Accelerating evolution of financial services
Financial services are no longer siloed — bankers, insurers, asset managers and private market pioneers are building integrated platforms ready to scale, creating deeper fusion — but also greater competition.
Deliberate, strategic decisions are essential when choosing which technology, AI, corporate structure or deals to pursue. PwC’s consulting, tax and assurance teams provide innovative, transformative solutions so you can adapt as financial services evolve.
Sectors
Banking and capital markets
Banks are in a position to go on offense. Healthy industry balance sheets set against a backdrop of streamlined regulations and a growing economy puts banks in a position to accelerate their growth agenda and reconsider dealmaking.
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Private equity
Firms are embracing a higher level of back-office sophistication as they add multiple asset classes and adopt tax-operating models. PE firms are also investing more in portco business models to enhance value creation and move beyond financial engineering.
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Insurance
Simultaneous challenges are rewiring how insurers operate. Climate resilience is being built at the community level based on their data and insight. Tech investments are aimed scalability and standardization. Ecosystems are being formed to accelerate top-line growth.
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Asset and wealth management
Next generation managers are pursuing scalable businesses as fees compress and capital pools shift. Mergers and partnerships are part of that reinvention. AI is also a differentiator, improving operations, research, risk management and compliance.
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Real estate
The time has come for a new growth cycle. Return to work is helping office building valuations stabilize. Meanwhile, steady interest rates improve risk and reward in real estate investing. Our top real estate market of the year is Dallas/Fort Worth.
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Insights
Rising insurance rates are affecting real estate and credit ecosystems, causing major challenges for residential and commercial lenders, developers and investors.
Key considerations and actions for alternative asset managers looking to attract and retain retail investors.
Despite strong investor appetite and a desire to put capital to work, many sponsors grapple with how to unlock value in a high cost of capital environment.
Case studies
PwC helped Cetera transform its legacy ERP into a scalable Oracle Cloud solution, boosting efficiency, enabling faster M&A, and enhancing reporting.
KeyBank cuts its manual financial reporting process in half and reduces risk with Workiva data automation.
Cross Insurance automates policy data pulls with PwC's Document AI and Google Cloud. Enhanced accuracy reduced work and improved customer experience.
Go way beyond traditional industry expertise
What we see on the horizon for your industry
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