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Prepared in collaboration with Deloitte CFA Society Montréal Asset Management Forum ● 1 November, 2016
The Future of Financial Services How disruptive innovations are - - PowerPoint PPT Presentation
The Future of Financial Services How disruptive innovations are - - PowerPoint PPT Presentation
The Future of Financial Services How disruptive innovations are reshaping the way financial services are structured, provisioned and consumed Prepared in collaboration with Deloitte CFA Society Montral Asset Management Forum 1 November,
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In 2015…
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Can Fintech Fix Financial Services?
Wall Street giving billions to fintech start-ups
In 2016…
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Innovation is emerging rapidly, and it can feel like a chaotic process
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Over 15 months of research, we worked with Deloitte to engage with experts in the financial services industry to map disruptive innovation
Industry Incumbents Leading Innovators
Tianjin Hong Kong Boston London Davos New York
Global Workshops
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We developed a consolidated framework for disruptive innovation in financial services
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Fintech Today: Five Observations
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Innovation in financial services is deliberate and predictable… …it occurs where customer friction meets large profit pools
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Fintech is having the greatest impact where business models are… …platform based, data intensive & capital light
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New entrants are employing parallel strategies, competing with incumbents… … while also leveraging their infrastructure
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Not all innovations are customer facing… …fintech is also delivering new capabilities and unexpected efficiencies
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The disposition of financial services regulators and supervisors is changing rapidly… …with implications for barriers to entry
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Fintech Tomorrow: Five Narratives
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New information platforms and the growing importance of digital distribution… …could erode the benefits of scale in many aspects of financial services
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The emergence of machine learning and artificial intelligence... …will transform
- rganizational processes and
talent requirements
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Digital marketplaces and improved product interconnectivity… …could unbundle the traditional model of universal retail banking
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Distributed ledger technologies like blockchain could re-shape global financial infrastructure… …but the implications are difficult to predict
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The trusted and established position of financial institutions… …places them in a unique position to re-define identity
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Two big questions for the future of financial services
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Which fintech players will grow to achieve minimum efficient scale?
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What are the building blocks of successful collaboration between incumbent institutions and new entrants?
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