Recovery:what could be ahead As the world emerges from this period of disruption, the capital markets industry will have a critical role to play in enabling the flow of capital to allow a quick rebound once the dust settles. We expect, however, that significant consolidation may continue within and across global industries. Just as the capital markets industry needs to pivot for short-term cost management, it also needs to elastically pivot to support and drive growth. The fact that technology is playing an important role in mitigating the impact of the crisis is also an opportunity for the industry to become more innovative and more efficient. We also expect to see leading firms drive new operating models with differentiation, durability and cost-effectiveness at their core. Aligned to a new environment, players will leverage analytics, intelligence and data to realign sales, coverage and products, and could also look to deliver a compelling customer experience more cost-effectively. How? By leveraging the inherent operational resilience and leadership with a relentless client focus. One side of the coin mandates checking computer and IT infrastructure’s resilience and remaining absolutely vigilant about cyber risk. The other, matching the right technologies with the right cost structure, with an eye on mitigating any future black swans. 10 Copyright © 2020 Accenture. All rights reserved.