U.S. private equity deal activity is expected to remain muted into the first quarter of 2023.
Financial services industry outlook key takeaways
Companies should seek out innovative technology platforms to prepare for what is to come.
Blockchain can help companies reduce security risks and mitigate fraud in a scalable way.
Outlook
Asset management industry outlook
As PE deal activity continues to face headwinds, managers look to savvy deal-making strategies to sustain momentum.
U.S. private equity deal activity through the third quarter of 2022 did not maintain the breakneck pace of 2021, but still held up remarkably well considering the various headwinds that caused the public equity markets to collapse through the end of the third quarter. Unlike 2021, which ended with a flurry of deals that sustained momentum into the first quarter of 2022, the final quarter of this year and first quarter of 2023 are likely to be more muted.
Fintech has been disrupting all areas of financial services, and the tax space may be the next to feel a significant impact with the emergence of tax as a service, or TaaS. Adjusting to fintech’s disruption in the tax space doesn’t have to be reactionary. Companies should seek out innovative technology platforms that can help them view the tax function in a new light and prepare for what is to come.
Outlook
Insurance industry outlook
Blockchain is a potential game changer in the insurance industry.
While many insurers continue to face rising operational costs, outdated legacy technology systems and increased competition in the market, blockchain is a potential game changer that could revolutionize how they operate. In a risk-averse industry, blockchain can create an environment of trust by providing a network with controlled access and a method to share valuable data in a secure, tamper-proof way.
Over the last several years, fintech companies have transformed the way financial services companies process payments. At the core of these changes is an effort by companies to be more responsive to their consumers by providing a frictionless, personalized and easily accessible financial services experience.
Outlook
Specialty finance industry outlook
We examine how fintech will continue to transform the payments industry.
RSM contributors
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Brandon HollisFinancial Services Senior Analyst
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