Jonovski Consulting
Business Specialists
Delivering Success
Insights
Global Businesses and Experts Analysis on Future Trends for 2024
December 2023
Is it time to Review Business Priorities for 2024?
At a recent Global Conference, JONOVSKI CONSULTING Business Specialists, collaborated with Global Business Leaders and Business Experts on current trends and the outlook to Financial Services and Related Industries for 2024.
The Important Business Priorities and Impacts for 2024 were outlined, incorporating the perspectives from Businesses, Banks, Regulators, Governments, Investment Managers and Entrepreneurs.
JONOVSKI CONSULTING Business Specialists summarizes the key highlights to Global Businesses Priorities and Impacts in Financial Services and Related Industries for 2024:
The Important Business Priorities and Impacts for 2024 were outlined, incorporating the perspectives from Businesses, Banks, Regulators, Governments, Investment Managers and Entrepreneurs.
JONOVSKI CONSULTING Business Specialists summarizes the key highlights to Global Businesses Priorities and Impacts in Financial Services and Related Industries for 2024:
Policy / Regulation / KYC / Data• The Global Financial Stability Board to Develop the new Stable Coin Policy: a) The G20 are working with the new Stable Coin Policy to implement the Global Standard Solution, b) The International Regulators will have the responsibility to manage the Stable Coin Transactions.• KYC Certification Verification Exchange being developed. • Government and Regulators need to define the Artificial Intelligence Framework (including Data Requirements) for Industry and Businesses.• Transparency and Value required to support the development of Future Regulation Frameworks.
Artificial Intelligence• Global upskilling is required.• Excellent Customer experience to be maintained. • Supports Business simplification and optimization. • Design requires to cater for balance to Human and Technology processes. • Evaluate for Fairness & Inclusion.• Ethics and Processes to consider: a) Discriminative Artificial Intelligence and Generative Artificial Intelligence, b) Customer Value, c) System Evaluations.
Design & Collaboration• The design of the Financial Services and Related Industries Regulated Products and how to implement them with the right knowledge is fundamental to deliver success.• Invest in the right people and project resources• Ethical Business Processes and Procedures leads to value driven Platforms and Products. • Knowledge Sharing and Partnerships with Businesses, Financial Services and Related Industries is important to execute value to product solutions. For example, Climate Change.
Climate & Sustainability• A clear road map required for Global Renewable Energy projects. A guaranteed is required for investments. • Improvements are required in Sustainability for Businesses.• World Bank to develop Carbon Credits and the first milestone is for the Forestry Industry.• Subsidy (Rebates) schemes required for Sustainability. Assets / Currencies / Digital• Maturity for Digitalised Assets will be a long-term process.• Central Bank Digital Currencies / Stable Coins / Crypto to provide value with innovative technology solutions. The new products will improve the new change to markets. • Tokenization / Blockchain evolution for 2024. Easy access to assets. Payments Infrastructure / Advice / People• Banks investing in Payments Infrastructure will offer a different user experience.• 2024 will focus on Electronic Form of Regulation Frameworks, supported by Payment Systems. • In 5 years, Cross Border Payments will not be a popular product.• Innovation in Financial Planning is fundamental.• Diversity and Inclusion need to improve for Businesses. Executing creativity, efficiency, ethics, and partnerships will deliver value and success to Businesses and Customers. At Jonovski Consulting, we work with entrepreneurs and businesses to deliver Business Transformation, Assurance, Technology and Transaction Services in a changing world.
Design & Collaboration• The design of the Financial Services and Related Industries Regulated Products and how to implement them with the right knowledge is fundamental to deliver success.• Invest in the right people and project resources• Ethical Business Processes and Procedures leads to value driven Platforms and Products. • Knowledge Sharing and Partnerships with Businesses, Financial Services and Related Industries is important to execute value to product solutions. For example, Climate Change.
Climate & Sustainability• A clear road map required for Global Renewable Energy projects. A guaranteed is required for investments. • Improvements are required in Sustainability for Businesses.• World Bank to develop Carbon Credits and the first milestone is for the Forestry Industry.• Subsidy (Rebates) schemes required for Sustainability. Assets / Currencies / Digital• Maturity for Digitalised Assets will be a long-term process.• Central Bank Digital Currencies / Stable Coins / Crypto to provide value with innovative technology solutions. The new products will improve the new change to markets. • Tokenization / Blockchain evolution for 2024. Easy access to assets. Payments Infrastructure / Advice / People• Banks investing in Payments Infrastructure will offer a different user experience.• 2024 will focus on Electronic Form of Regulation Frameworks, supported by Payment Systems. • In 5 years, Cross Border Payments will not be a popular product.• Innovation in Financial Planning is fundamental.• Diversity and Inclusion need to improve for Businesses. Executing creativity, efficiency, ethics, and partnerships will deliver value and success to Businesses and Customers. At Jonovski Consulting, we work with entrepreneurs and businesses to deliver Business Transformation, Assurance, Technology and Transaction Services in a changing world.
Steven is the Founder, Director & Principal, of Jonovski Consulting.Steven has a wide range of Financial Services and related industry experience in delivering global solutions for Customers in Australia, New Zealand, Asia, Europe and America.Prior to Jonovski Consulting, Steven held positions at Multinational Companies and worked with all levels of Management and supporting Teams.
For enquiries please contact Jonovski Consulting at info@jonovskiconsulting.com.au
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Connect with Steven Jonovski on LinkedIn at linkedin.com/in/stevenjonovski
Subscribe to Jonovski Consulting Insights at insights@jonovskiconsulting.com.au
Connect with Steven Jonovski on LinkedIn at linkedin.com/in/stevenjonovski
The purpose of this communication from Jonovski Consulting is to provide industry insight (factual information) and not provide advice.
While all reasonable care has been taken in the preparation of this information, Jonovski Consulting take no responsibility for any actions taken based on information contained herein or for any errors or omissions. Interested parties should seek independent advice prior to acting on any information presented.
To the extent permitted by law we exclude (and where the law does not permit exclusion, limit to the extent permitted by law) all liability for any direct, indirect and consequential losses, damages and expenses incurred in any way (including but not limited to that arising from negligence), connected with any use or access to or any reliance on information contained in this communication.
While all reasonable care has been taken in the preparation of this information, Jonovski Consulting take no responsibility for any actions taken based on information contained herein or for any errors or omissions. Interested parties should seek independent advice prior to acting on any information presented.
To the extent permitted by law we exclude (and where the law does not permit exclusion, limit to the extent permitted by law) all liability for any direct, indirect and consequential losses, damages and expenses incurred in any way (including but not limited to that arising from negligence), connected with any use or access to or any reliance on information contained in this communication.
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