The Finnish financial markets have become more international than ever before. There has been a lot of integration between different Finnish banks and insurance companies in the last few years.
Talentor has gained extensive industry knowledge and wide networks among the best candidates in the field of banking and insurance industry.
In Finland there’s around 200 banks whose net result of financial operations was 562 million euros in the end of the year 2016. Net result of financial operations decreased 6,4 % and the operating profit decreased 17,7 % compared to the year before. The profit of insurance companies increased 3 % as the total profit grew into 24 billion euros in the year 2015. Currently approximately 40 000 people work in different banks and insurance companies in Finland.
The credit demand of different companies and private people has been growing during the year of 2016 and it has been forecasted that it will be growing also in the year of 2017. In addition, the usage of bank credits, funds from the financial markets and the willingness to invest will increase in the following years. Nevertheless, the financial institutions and organizations are facing unprecedented challenges as the financial regulations are tightening, new competitors are stepping into the markets and customer behavior is becoming more complex. For example, one of the challenges in the field is the directive of payment service which is described as the most significant change in the financial industry during the last years, because the directive forces banks to open their infrastructure for third parties. The digitalization, the usage of new innovative solutions and concentration to risk management are challenging the financial institutions and organizations to change.
Effectively functioning financial services generate financial stability, prosperity and growth. In order to succeed in this sector it is necessary to understand the status quo and future trends of the banking and insurance industry. Leaders and professionals in the financial services sector must not only understand the dynamics of global finance, but they must also be able to anticipate changes and recognize emerging opportunities.
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