This article appeared in the January 2021 AOTMP® Insights edition.
“The landscape of business, how and where we work, and how businesses support the technology needs of employees continues to undergo significant changes. Process management and the need for cost control are more important than ever and one thing is certain – “nothing will be quite the way it was.”
Publication: Connecticut Bankers Association Quarterly, March 2021.
This article explores the specific impact that M&As can have on telecommunication expenses in a world where the number of banks is shrinking, technology is advancing rapidly, customer acquisition is fiercely competitive, and remote work is a new norm.
A recent Lexology® article cited research done by investment advisor FJ Capital Management on banking mergers and acquisitions (M&As). It indicates that M&As will accelerate by mid-2021 and continue robustly for five years. This long period of bank M&A activity is likely to result in as much as 50% fewer banks in the US over the next decade. In addition, respondents weighing in on a Datasite® survey also expect M&A activity to increase in 2021. This research points to financial and real estate services that will accounts for 22% of this activity.