Global Scans · Financial Services · Weekly Summary

• [New] As 2026 quickly approaches, the question is not whether AI will transform financial services but whether it will do so in a way that builds trust, protects consumers and delivers tangible benefits. FinExtra
• [New] The emergence of smarter, more inclusive financial services, enabled by open banking and enriched credit data, will help to give people more control over their finances, and be crucial to alleviating pressure in 2026. FinExtra
• [New] There are a number of points of interaction between quantum and the FCA's remit, which will be key to its ability to minimise risk arising out of the application of quantum computing in UK financial services. Taylor Wessing
• [New] Many insurance and financial services executives now expect AI initiatives to take two to four years to deliver satisfactory returns, a longer payback period than typical IT projects and a possible reason some insurers hesitate to commit to full-scale claims overhauls. Insurance Business
• [New] As 2026 fast approaches, the consumer financial services landscape in the United States is entering a phase of rapid transformation. FinExtra
• [New] The financial services composite, which includes banks, insurance providers, fintech platforms, and payment companies, is expected to see advertising spend grow by 11.2% in 2025 and an additional 9.3% in 2026. Marketing-Interactive
• [New] Spending: According to a new IDC Spending Guide, global AI spending is projected to double, exceeding $300 billion by 2026, with financial services being a top driver. Salesforce
• [New] Global financial services are forecast to exceed $47 trillion by 2029, with digital banking, AI-driven underwriting, and instant payment rails continuing to reshape how consumers and enterprises transact. Vendelux
• [New] The AI Live Testing initiative will be the first of its kind in UK financial services. Insurance Business
• [New] In the 2026 Global Financial Services Regulatory Outlook, we see a shift from 2025's challenge-fragmentation-to a new era of localization, as national regulators rewrite rules to match domestic growth and competitiveness goals. EY
• [New] Potential fraud losses for financial services institutions in the U.S. alone could reach $40 billion USD by 2027, highlighting why financial services are racing to strengthen their defences. Cybercrime Magazine
• [New] In 2026, the FCA will deliver a new wave of growth initiatives to focus on more efficient supervision, the digitalization of financial services, increasing SME lending, and boosting trade and international competitiveness. FCA
• [New] In the near-term (2026 and immediate years following), AI will continue to rapidly enhance financial services by improving efficiency, reducing costs, and offering more tailored solutions. The Daily Press
• [New] The research points to a broader opportunity for UK financial services and insurance firms to elevate compliance from a regulatory function to a strategic enabler. Fintech Intel
• [New] Looking ahead to 2026, rates are expected to remain stable to slightly down for well-protected risks, while underwriters may tighten terms and push selective increases in higher-exposure industries such as healthcare, financial services, and public entities. SterlingRisk Insurance
• [New] The UAE's 2025 expansion is expected to be driven by the non-oil sector, hydrocarbon production recovery, tourism, construction, financial services, and major infrastructure projects. ANBA News Agency
• If executed well, Neo Banks could become a cornerstone of Nepal's financial modernization-offering affordable, fast, and accessible services to millions. NEPSE Trading
• The New York State Department of Financial Services has set the 2026 Paid Family Leave contribution rate at 0.432% of weekly wages, an 11.3% increase from 2025. Precision Benefits Group
• As financial services continue to evolve - with more banking-as-a-service models, API-driven fintech integrations, cloud-native infrastructures, and global vendor ecosystems - institutions that master third-party risk management will build more resilient, trustworthy, and sustainable businesses. FinExtra

Last updated: 22 December 2025