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Macroeconomic Outlook: Company Assigned - Canara Bank

The document discusses the macroeconomic outlook for the financial services industry in 2023. It notes the industry successfully navigated the pandemic but now faces challenges like inflation, supply chain issues, and potential recession. It suggests leaders apply lessons from the pandemic by focusing on strategy, talent, technology, risk, and purpose to navigate the coming year.

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30 views1 page

Macroeconomic Outlook: Company Assigned - Canara Bank

The document discusses the macroeconomic outlook for the financial services industry in 2023. It notes the industry successfully navigated the pandemic but now faces challenges like inflation, supply chain issues, and potential recession. It suggests leaders apply lessons from the pandemic by focusing on strategy, talent, technology, risk, and purpose to navigate the coming year.

Uploaded by

poisonbox
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Company assigned – Canara Bank

Macroeconomic Outlook
Over the past two years, the financial services industry has demonstrated its ability to
successfully navigate unprecedented levels of uncertainty. From real estate to insurance to
investment management to banking and capital markets, financial services organizations
across the globe faced the pandemic with remarkable resilience and adaptivity, helping
people, organizations, and governments get back on their feet.

But it’s still an upward climb. Now faced with a confluence of near-term geopolitical and
economic challenges—the war in Ukraine, inflation, supply chain disruptions, and the
possibility of regional or global recession—2023 also promises to be a year in which more
regulation and requirements around transparency become marketplace realities.

How can financial services leaders navigate the path ahead? They can apply the lessons
they’ve learned since 2020 to address challenges and find opportunities: leaning in on smart
strategy and execution and focusing on talent, technology, risk, regulation, and purpose.
While some organizations may choose the cost-cutting route, others will point toward smarter
execution, finding ways technology can be deployed to add value and create superior
customer experiences. While some firms may respond to ESG requirements defensively,
focusing on doing only what’s required, others will step up and lead, finding opportunities to
invest in people and the planet.

2023 could be the year the “new normal” fully comes into view. There will be opportunities
to help define the future, one in which profits and purpose are inextricably linked. Financial
services leaders can be poised and ready to move the industry forward.

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