1、T H E F U T U R E O F F I N A N C I A L S E RV I C E SA global exploration of evolving trends in the financial services F I N A N I A L S E RV I C E SContents040304266155444455 Introduction Section 1:The current global financial landscape Section 2:Trust and understanding in the changing financial s

2、ervices ecosystem Section 3:Rethinking the concept of money Section 4:Rethinking the role of money making sustainable financial choices SummaryTHE FUTURE OF FINANCIAL SERVICES02The financial services industry has been undergoing rapid transformation driven by both changing consumer expectations and

3、wider industry fragmentation.We have seen the profound impact that digitisation has had on consumer behaviours and expectations,and the dramatic effect of the pandemic on both technology change and patterns of behaviour.For established financial services providers,this creates a challenge in terms o

4、f being able to understand the rate of change,the potential success and longevity of emerging innovation adoption,and where they should be focussing their own transformation efforts.For new market entrants,the challenge sits in keeping ahead of the innovation curve and understanding how to drive con

5、sumer adoption before traditional brands can react.In addition to these fundamental industry challenges,the entire financial services ecosystem has experienced accelerated industry fragmentation.We have seen the rise of digital-only brands challenging traditional banking spaces,the emergence of new

6、business models and innovations that challenge the industry status quo,and the creation of financial products like cryptocurrency once seen as having niche and short-lived appeal becoming-more mainstream.With digital providing reduced cost of entry into the market and the rise of the fintechs increa