The Depository Trust & Clearing Corporation's latest Systemic Risk Barometer reveal the foremost risks facing global finance entering 2026. This year’s survey highlights ongoing geopolitical risks, cyber threats, and an economic slowdown in the U.S. as top-of-mind issues for financial professionals.
For the fourth consecutive year, geopolitical risks and trade tensions topped the list, with 78% of respondents highlighting these factors as critical to the global financial landscape.
Decentralized Finance (Crypto Assets, CBDCs, etc.) and FinTech (A.I., Cloud, DLT, Machine Learning, etc.) risk categories in the 2025 Risk Forecast. This
survey was conducted prior to the U.S. election.
Source: DTCC 2025
“A common theme across the survey responses was concern over uncertainty—whether economic, geopolitical, or tied to emerging technologies like AI,” stated Tim Cuddihy, DTCC group chief risk officer. Such concerns underscore the potential instability that these tensions introduce to financial markets.
Meanwhile, cyber risk ranked second, with 63% of respondents categorising it as a top five risk. This finding aligns with escalating cyber threats targeting financial institutions worldwide.
The growing reliance on digital infrastructures makes these organisations particularly vulnerable to cyberattacks, with cybersecurity and data protection vulnerabilities emerging as the leading risks linked to the adoption of artificial intelligence.
In the realm of economic concerns, 41% of respondents identified the U.S. economic slowdown as a significant issue, followed closely by market volatility and monetary policy uncertainties, each at 38%. The uncertain economic climate makes stakeholders wary of potential disruptions that could ripple through the financial ecosystem.
Additionally, the survey noted a rising apprehension about the financial services industry's increasing dependence on AI. 33% of respondents ranked FinTech as a top five risk, and many expressed concerns about the governance and oversight of AI systems.
“New technologies like AI and quantum computing could introduce fresh pathways for contagion and systemic events,” Cuddihy warned, highlighting the need for effective management and risk mitigation strategies.
Notably, the survey introduced questions related to quantum computing, revealing that only 29% of respondents were actively planning for the cybersecurity implications of this emerging technology. This lack of preparedness could present significant challenges as quantum capabilities begin to mature.
Cuddihy emphasised the importance of communication and collaboration within the industry: “The most effective tool to navigate uncertainty is industry-wide communication and collaboration.” This call underscores DTCC’s commitment to fostering resilience and mitigating systemic risks in a turbulent environment.
As financial leaders in Asia prepare for 2026, prioritising cybersecurity and strategic planning against geopolitical and economic uncertainties will be essential.
