The report below gives a good overview of the Summer 2021 M&A activity in the Financial Services Industry Sector. The global financial services market is expected to reach $22.5 trillion in 2021 from $20.4 trillion in 2020 growing at CAGR of 9.9% as per research published by ResearchAndMarkets.com. There will be a rapid growth in this industry as companies are recovering from the impact of COVID-19 and rearranging their operations. Technological changes, emerging investment trends and shifting consumer expectations would continue to push financial services companies to take a proactive approach to innovation. Due to increasing competition among banks and growing demand for a simplified commercial lending process, banks and financial institutions are adopting digitization to modernize their commercial lending business. During the pandemic, the banks that made strategic investments in technology emerged out stronger. In addition to that, millennials shifting preferences away from more traditional services will continue to be a driving force in the consumer lending market. In 2021, the financial services providers would focus on innovation, multichannel approaches to products & services along with the possible regulatory changes. The rise in the digital trends in the insurance sector along with increasing investments in asset management firms would further fuel the growth in this industry.
