The financial services industry is at an inflection point. Over the past 30 years, a trend towards consolidation and vertical integration has helped to build the systemically important financial institutions we know today. However, increasing regulatory complexity, globalization and technological advancement have accelerated the pace of business model transformation, and the potential for product / service unbundling, like never before. These forces are reshaping the financial services landscape for incumbents, new entrants and policymakers, with significant implications for:
This project will take a long-term view of the financial sector (5, 10, 15 year time horizons) and will use primary and secondary research, coupled with scenario analysis to explore a number of potential future states for the broader industry. Based on multistakeholder input from both the public and private sectors, partners will help guide this analysis and identify priority businesses (e.g. retail, wholesale, insurance), products and geographies that benefit from further transformation visualization.