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The Role of Financial Services in Society
Report

The Role of Financial Services in Society

Understanding the Impact of Technology-Enabled Innovation on Financial Stability

World Economic Forum
World Economic Forum, 2016
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Editorial Rating

7

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Recommendation

Technology has been a springboard for new business models of funding and payment systems, bringing the role of financial services front-and-center in public interest concerns. Nonbank firms are expanding the definition of a financial services company and competing with traditional institutions. This concise study from the World Economic Forum offers a solid blueprint for initiating globally collaborative discussions on how to address emerging financial system risks. getAbstract recommends it to policy makers and executives responsible for guiding the future of the financial services industry.

Take-Aways

  • Technology innovations have created a new set of risks to the financial system.
  • Financial services companies must straddle the line between providing consumers with personalized services and products, and using customer data for other purposes.
  • The public and private sectors should come together to find ways to strengthen financial system stability.

About the Author

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

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