Post COVID-19 crisis, it is expected that only 10% of people will come back to Banks’ New York and London offices that might rise to 50% in the peaceful future. The investment bankers might stay at home working remotely.
The investment banking industry functionality might change altogether. The future will be different from the near past. It is set to become a suburban occupation where flights to meet clients will get lessened while video calls interaction will increase. Many are decamping from their office locations and moving to their homes. Barclay’s chief executive Jes Staley predicts that retail banks could be used by investment bankers.
This crisis period has shown that investment bankers can work from home. In the future, bankers at JP Morgan, Barclays, and others are likely to spend time working from their residences or satellite offices situated close to clients or at the town disaster recovery centers.
In the 2020 COVID-19 pandemic, the Next Best Action (NBA) system got used over 11 million times at Morgan Stanley for wealth management. It was introduced in 2018 for financial advisors. It is a system and a platform used for personalized communication, client engagement, and an AI-based recommendation engine for investment and wealth management ideas for clients. NBA systems are helping the financial advisors to engage with clients efficiently.
Likewise, Franklin Avenue Group uses the NBA system for routine communications like birthday greetings, holiday messages, message filters, the passage of the SECURE Act by the US Congress, and much more.
Well, this is all about the general life of bankers’ during and post-crisis periods. How about the investment banking market condition?
Investment banking: The future
Over the coming years, it is expected that the role, structure, the competitive environment and the markets will see disruption driven by socio-economic shifts, populism, protectionism, technology innovation, focus on ethics and sustainability.
The major players in the Investment banking market are Wells Fargo Securities, Bank of America Meryl Lynch, Credit Suisse, RBC Capital Markets, JP Morgan, Barclays, and many more. Likewise, the major regions playing an important role will be Europe, China, Japan, Middle East & Africa, and India among others.
· Investment banks will see an increased demand in high growth areas and wealth management services. Banks will have to meet the needs of the more technology-savvy workforce, emphasis on soft skills and relationship management.
· Shifting to the cloud, increasing the use of automation and using data analytics to reduce costs, manage risk, and service clients will be their next trend.
· Investment banks must provide transparency in their products and services and resilience in their operations.
· Web-based investment platforms focused on niches like oil and gas, software& tech, real estate, etc., might expand their features and breadth of deal types to meet the demands of the tech-savvy investors.
· Use of Artificial Intelligence for market data collection, trade processing, predictive analytics, regulatory compliance, and many more.
· Promote ethical practices and sustainability measures to meet the challenges caused due to new entrants and increased competition.
This calls for certified investment bankers who can upskill themselves to be a unicorn in the industry, rule the evolving technology world, and emerge out with flying colors.
If finance is your forte, then you should think of a career in investment banking at this golden period. The disruptive shift is already here. Get acquainted with new skills to rule the market.
The skills developed by earning an investment banking certification like capital markets, risk management, acquisition advisory, technical tools, and other subject matter expertise enable the professionals to gain practical skills in finance.
Get certified today and stay ahead of the race in the competitive market place.