Summary of The Future of Financial Services

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The Future of Financial Services summary
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Rating

8 Overall

8 Importance

8 Innovation

7 Style

Recommendation

For the financial services industry, change is coming fast and furiously. This thorough report by the World Economic Forum takes a look at the upheaval. The study draws no firm conclusions about exactly how the world of banking and finance might change, but it outlines possible outcomes for the banking, credit card, insurance, capital raising and investment industries. It examines a number of emerging and possibly disruptive technologies, including Bitcoin and PayPal, crowdsourcing, and peer-to-peer lending. The most likely scenario, the report seems to suggest, is that traditional financial institutions will have to adopt some of the new ideas. getAbstract recommends this presentation, written for the financial professional, to industry executives and investors.

In this summary, you will learn

  • How innovation affects established payment systems and lending,
  • Why insurers are more and more moving toward customization, and
  • How capital markets as well as investment managers are adapting digital advances.
 

About the Authors

The World Economic Forum is an independent global organization that engages leaders of business, politics, academia and society with the mission of improving the state of the world.

 

Summary

For the Financial Industry’s Incumbents, Change Is the New Normal
Financial institutions face a wave of change brought about by shifting consumer preferences and the rise of technology. Banks, credit card issuers and insurers already are adjusting the way they do business. While exactly...

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