The Current Account: The Latest Headlines From Across The Banking Sector - April


Welcome to The Current Account! We hope you enjoy our latest round-up of the top news from the industry in April.

Headlines from the banking sector this month

In this edition of The Current Account, we focus on Fraud in the Banking Sector, and the challenging jobs market.

Combatting Fraud

PEN Point Of View:

There is a greater focus on fraud in today’s market due to increased awareness resulting from a number of high-profile failures over the past few years and increased fraud opportunities driven by the pandemic and increased regulation. Banks will have to continue to prioritise investment in systems, controls, people and third parties to reduce their risk exposure and to stay on top of it.

The strongest jobs market in more than a decade

  • We’re seeing the strongest jobs market in more than a decade. The sector continues to experience a very competitive recruitment market, making it difficult to hire – something our clients are particularly experiencing in the fast-moving world of change delivery
  • It stems from the Great Resignation – a period where, following the pandemic, a huge number of people are moving jobs. This is largely down to employees having more bargaining power and increased choice as a result of hybrid working
  • A recent Gartner report indicates it doesn’t show any sign of slowing down, particularly for IT talent, something that should be high up the priority of CIOs to resolve
  • As a result, organisations are having to come up with inventive ways to attract and retain employees

PEN Point Of View:

Attracting and retaining talent has become a critical business risk. Developing and nurturing a positive company culture with a human-centric focus is key. Although this can take a long time to embed, failure to do so will see organisations left behind by competitors.

And in case you missed it…

We’d love to hear your thoughts on this month's edition, connect with us and share on LinkedIn, and we look forward to continuing the series.

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