Future of Financial Services

Future of Financial Services

The financial services industry is on the brink of disruption, as the use of technology poses a challenge to market players and their existing products and services and associated costs. Thus it is important to revisit one of the oldest industries and re-conceptualize how it will thrive in the future aligning itself to looming social and technological trends.

This study will address implications to the labor force employed in the financial services market, as a lot of the responsibilities currently held by individuals will be susceptible to automation. Another consequence to automation might be the role of institutions in the industry moving to advisory rather than transaction processing. An interesting development we foresee is also reduction in costs to customers, as fee structures contract by incentivizing voluntary submission of customer purchasing habits. As funding and lending channels move from traditional wealth management institutions to more open and platformized or peer-to-peer lending, it will be interesting to gauge how the 'micro-investments' market might be one of the largest drivers of investments in the future.

1. Executive Summary
Executive Summary
Key Findings
Key Findings (continued)
Key Findings (continued)
2. Research Scope, Objectives, and Background
Research Scope, Objectives, and Background
Research Scope
Research Background
Research Methodology—From Macro to Micro
Research Methodology—From Macro to Micro (continued)
Research Methodology
3. Overview and Introduction
Overview and Introduction
Definition of Fintech
4. Key Disruptions in Segments
Key Disruptions in Segments
Payments—Virtual Currencies: Hidden Transactions
Payments—Online Processing: Blockchain
Payments—Online Processing: Artificial Intelligence
Payments—Online Processing: Corporate Administration
Payments—B2B Payments: Market Growth Snapshot
Payments—B2B Payments: Payment Platforms
Payments—B2B Payments: Real-Time Payments
Payments—B2B Payments: Smart Contracts
Insurance—Connected Insurance: Wearables
Insurance—Connected Insurance: Telematics
Insurance—Connected Insurance: Telematics (continued)
Insurance—Progressive Customer: Risk Sharing Models
Insurance—Progressive Customer: Smartphone-based Solution—Kony Case Study
Insurance—New Business Models: Cost Advantage of Digital Insurers
Banking & Funding/Lending
Banking & Funding/Lending—Micro-investments: Shrinking Investment Size
Banking & Funding/Lending: Platforms—Crowd Funding
Banking & Funding/Lending—Platforms: Blockchain As a Financial Control Mechanism
Bank of the Future
Banking & Funding/Lending—Retail Banking: Shrinking Branches
Banking & Funding/Lending: Retail Banking Case Study—Citi Future Branch Model
Banking & Funding/Lending: Retail Banking—Cost Advantage of Platformized Banking or Digital Banking
Business Support Functions
Business Support Functions—Biometrics
Biometrics—Case Study: Biometric Applications for the Payments Industry
Business Support Functions—Big Data: Data Lifecycle
Digital Strategies through Big Data
Business Support Functions—Artificial Intelligence
Business Support Functions—Artificial Intelligence Information Processing
5. Funding of Fintech
Funding of Fintech
Global Funding of Fintech Companies
Global Consumer Wealth Growth Mirrors Fintech Funding Globally
Total Bitcoin and Blockchain VC Funding has Almost Reached $1 Billion, Led by Multiconcept Businesses.
Geographic Leaders in Specific Fintech Spaces
6. Trends in Financial Services
Trends in Financial Services
Trend Overview—Automation Implications to Labor Force
Case Study—Bankable: Banking as a Service
Factors Critical to this Trend
Trend Overview—New Investor Classes
Case Study—eToro: The New Age of Social Trading
Factors Critical to this Trend
Trend Overview—Zero-Cost Wealth Management
Case Study—Betterment
Factors Critical to this Trend
Trend Overview—Transactional Brokerage to Advisory Business Models
Factors Critical to this Trend
Trend Overview—Crowd-Sourced Finance
Factors Critical to this Trend
Trend Overview—Customer Data Incentivization
Factors Critical to this Trend
Trend Overview—Decentralized Autonomous Organization (DAO)
Factors Critical to this Trend
7. Profiles of Fintech Disruptors
Profiles of Fintech Disruptors
Fintech Landscape
8. Conclusion
Expected Transformations
Blockchain Beyond Bitcoin—The Future of Digital Distributed Ledgers
Key Conclusions
Expected Market Developments to 2025
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