After its strong recovery from the global crisis of 2007-08, the financial services industry showed great resilience and adaptability through the pandemic. The growth of one of the world economy’s most valuable sectors is projected to continue, despite a slowdown in many economies.
But the pace of change will not be reduced. The disruption wreaked by digitalisation is accelerating, driven by new technologies and customer expectations. In the new era of FinTech and InsurTech, established financial institutions must compete with a raft of challengers and would-be new entrants, from e-tailers to manufacturers.
Other risks and pressures arise in the form of increasing regulation, internal and customer fraud, data privacy, ESG (environmental and social governance) requirements, and cryptocurrencies. Their underlying blockchain technology enables DeFi (decentralised finance) and smart contracts. A brave new world of democratised finance could allow individuals to manage their wealth without the need for intermediaries. The distributed ledger technology may also streamline costs and transaction fees while potentially enhancing cybersecurity.
Ramping up R&D investment and/or partnering with tech specialists is essential – to survive disruption and exploit developments in consumer apps, data analytics, AI (artificial intelligence) and machine learning, edge and quantum computing – while navigating a daunting risk landscape.
Our expert service offering in the financial services industry
We help financial service providers and their legal advisers manage a range of business-critical risks. These include disputes (with joint venture partners, post-merger or acquisition, contractors, or the supply chain), insurance claims, bankruptcies, corporate fraud, intellectual property (IP) and ESG matters.
HKA people are problem-solvers—forensic accountants and investigators, commercial damage assessors, and other specialists—with established track records of achieving successful outcomes. Our dispute expert witnesses have testified on every continent before courts, arbitration tribunals, regulatory boards, and various international forums.
As one of the world’s foremost firms in financial services expert, consulting, risk mitigation and dispute resolution, we are highly rated in both the Who’s Who Legal (WWL) Arbitration Analysis and Global Arbitration Review, and also the largest accredited corporate provider of expert services with the Academy of Experts.
We can help you at every stage of the dispute resolution cycle – from early strategic advice to settlement negotiations or, depending on our role, expert witness testimony. Our consultants assess the value of economic damages, businesses, shares and assets, including IP. We also help the insured and insurers establish the financial impact of events.
Our financial services experts, consultants and advisors provide incisive support in cases of corporate fraud, regulatory investigations, white-collar crime, and bankruptcy across jurisdictions. Drawing on deep industry experience and data analytics, HKA investigators detect accounting anomalies, trace funds and assets, and liaise with regulators, helping our clients navigate the most complex and challenging cases.
Our forensic accountants and investigators, and our damages assessors, work independently and in conjunction with HKA colleagues specialising in claims management (see below), project disruption & delay analysis, and forensic technical services to present evidence, both written and oral, before courts, arbitration tribunals and in mediations.
Our claims and dispute resolution consultants investigate and analyse the cause and effect of events. Their skills and experience are invaluable when analysing contractual entitlement and causation and quantifying the effects of pursuing or defending claims.
Our Dispute Expert Witness experts
The breadth and depth of HKA expertise is unmatched – and trusted by lawyers and clients across the world. Whatever the location, language, jurisdiction, or forum, we can provide an expert or team with industry experience and high-calibre skills to match most briefs.
