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Introduction

The UK vote to leave the European Union will have ramifications for financial services internationally and could topple London’s standing as a global financial center. Short-term uncertainty will put some IT projects in limbo.

Highlights

  • The fundamental drivers of IT investment for the industry and institutions across Europe will remain unchanged, but uncertainty over the outcome of the exit negotiations will undoubtedly see imminent IT projects paused or de-scoped, while some large-scale projects may be shelved.

Features and Benefits

  • What questions surround future compliance requirements on European-level initiatives and regulations such as the second Payment Services Directive (PSD2)?
  • Will the UK diminish in importance as a hub for the financial services industry?

Key questions answered

  • How does Brexit affect European and international financial services markets?
  • Will Frankfurt take London's crown as a global financial services hub?

Table of contents

Ovum view

  • Summary
  • Uncertainty will affect projects in-flight
  • Insurers face increased costs from compliance requirements

Appendix

  • Author

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