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The Future of Financial Services
Report

The Future of Financial Services

How Disruptive Innovations Are Reshaping the Way Financial Services Are Structured, Provisioned and  Consumed

World Economic Forum, 2015 plus...

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Editorial Rating

8

Qualities

  • Innovative

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.

Take-Aways

  • Disruptive technologies are changing the banking, credit card, insurance as well as investment industries.
  • New entrants like Bitcoin and Lending Club look for business opportunities arising from “customer friction” and “pain points.”
  • Traditional institutions could compete with the upstarts, cooperate with them or co-opt them by creating their own alternatives.

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.