Closing the Gaps: Financial Services Needs of Next-Generation Companies
Closing the Gaps: Financial Services Needs of Next-Generation Companies documents the emergence of a new breed of young and innovative global competitors that have managed rapid expansion, often without the full benefit of traditional financial services. The Report, produced in collaboration with The Boston Consulting Group, documents how these “next-generation companies” (NGCs) have achieved market-leading growth beyond their home markets, deploying non-legacy business models and pioneering products.NGCs have invigorated the metabolism of global commerce with streamlined services and interactive customer platforms. Often, they thrive by bringing needed goods and technologies to unserved markets. At the same time, the Report shows, NGCs are little understood and often underserved by the world\'s financial services industry. They form a burgeoning global market for financial products and services that is waiting to be tapped.The Report lays the initial groundwork for closing those gaps, by mining round-table discussions conducted at Forum events as well as primary research undertaken directly with the Forum’s community of Global Growth Companies. It catalogs the key financial-services needs of NGCs and the gaps for domestic and international operations. This study highlights the likely challenges along the way for all stakeholders—including the NGCs, financial services companies, governments and regulators—as well as a series of potential solutions that can be implemented to bridge these gaps and reap the full benefits of this significant area of opportunity.
Closing the Gaps: Financial Services Needs of Next-Generation Companies documents the emergence of a new breed of young and innovative global competitors that have managed rapid expansion, often without the full benefit of traditional financial services. The Report, produced in collaboration with The Boston Consulting Group, documents how these “next-generation companies” (NGCs) have achieved market-leading growth beyond their home markets, deploying non-legacy business models and pioneering products.NGCs have invigorated the metabolism of global commerce with streamlined services and interactive customer platforms. Often, they thrive by bringing needed goods and technologies to unserved markets. At the same time, the Report shows, NGCs are little understood and often underserved by the world\'s financial services industry. They form a burgeoning global market for financial products and services that is waiting to be tapped.The Report lays the initial groundwork for closing those gaps, by mining round-table discussions conducted at Forum events as well as primary research undertaken directly with the Forum’s community of Global Growth Companies. It catalogs the key financial-services needs of NGCs and the gaps for domestic and international operations. This study highlights the likely challenges along the way for all stakeholders—including the NGCs, financial services companies, governments and regulators—as well as a series of potential solutions that can be implemented to bridge these gaps and reap the full benefits of this significant area of opportunity.