EUROPE’S FINANCIAL SERVICES ON THE ROAD TO 2030
Europe’s financial services providers are experiencing a period of profound change, fueled by recent political and economic turbulence and the acceleration of technological transformation in the sector and beyond.
Recent years have tested the resilience of economies, institutions, and individuals alike. Ongoing geopolitical tensions and military conflicts, including in Ukraine, are reshaping economies and impacting the financial landscape. More recently, tariffs introduced by the U.S. administration have added to market volatility – effects that, though beginning to ease, continue to ripple across Europe’s financial services sector.
Alongside this, political instability in major European economies has created uncertainty for financial markets and those who operate in them, while the acceleration of technological transformation in the sector and beyond, including in key areas like AI, is piling further pressure on institutions trying to keep up with the pace of change.
In this new environment, financial institutions and their customers must navigate a complex mix of pressures. Rising costs, conflicts and economic uncertainty continue to affect household budgets and business strategies.
At the same time, customer behaviors are shifting – driven by a growing demand for digital solutions, greater financial security, and more personalized services. These expectations are being shaped by technological innovation that shows no signs of slowing down.
CRIF’s second report in its 2025 Banking on Banks series examines the trends impacting European financial services through to 2030. Drawing on insights from 6,000 consumers in Italy, Germany, France, Poland, and the UK, as well as insights from senior financial professionals in the UK and serving European markets, the report offers both business and consumer perspectives on how financial behaviors have evolved and where priorities converge or diverge.
Building on CRIF’s earlier findings this year that examined the past decade, this latest edition considers the opportunities and challenges of the years to come. It looks at how consumers’ financial lives are likely to further evolve and assess what this means for financial services providers – from adapting to these shifting demands to challenges they must navigate and the opportunities open to them.
One of the most transformative forces shaping the future is the rise of GenAI. This technology holds enormous potential to improve efficiency, enhance customer experiences and unlock new service models. However, it also presents risks and challenges that must be carefully managed if the apprehensions of some customers are to be overcome.
By examining the overlap between consumer needs, technological change, wider economic and political pressures, this report aims to help financial institutions to better understand what the future holds and make informed, forward-looking decisions that help them meet the needs of customers, for now and years to come.
