The survey shows a picture of continuing improvement in the industry’s performance. Economic recovery is stimulating demand, lifting revenues and boosting profitability. There are some concerns about the effects of revived competition, but many firms are turning their attentions to customer acquisition and growth.
This confident outlook is encouraging firms to hire more staff, and to spend more on training. Skilled employees are increasingly seen as a vital component of success.
There is also growing recognition of the central role that technology will play in the industry’s future. Investment in technology continues to expand across the industry, as firms prepare for further growth, defend profitability and strengthen their infrastructure.
The CBI/PwC Financial Services Survey is a quarterly trends report that discusses the health, perceptions and plans of the UK financial services industry.