1、The future of value transfer Trust and Identity The future of value transfer|Trust and Identity3Lasting sustainable and mutually valuable relationships be they personal or commercial are built on trust.As Deloitte outlines in its newly launched series on the Future of Trust-they are the connective t

2、issue that bind together everything that we do:our relationships,our actions,our expectations of others.We expect institutions,businesses,and other organizations to deliver on their promises and behave responsibly.Likewise,we expect to be able to move around our communities safely,depend upon our re

3、lationships,and rely on certain truths.Achieving trust in the physical world of financial services is hard enough,with the sheer cost and logistical difficultly of establishing and maintaining trust providing an economic moat for incumbents and a steep barrier to entry for new players.Moreover,the m

4、ove from traditional value chains to value webs will magnify the permutations and complexity of potential interactions and sequences,placing greater emphasis on trust and identity.Solving for the challenge of trust in the digital financial services world will undoubtedly open the door to even richer

5、 and more diverse value webs,within which incumbents and new players alike,benefit from the speed and proximity that digitalization provides.As Stephen R.Covey,author of The Speed of Trust and leading authority on the subject,stated in an interview with Forbes magazine,“when trust goes up in a relat

6、ionship,or on a team,in a company,in an industry,with a client,with a customerspeed goes up with it and cost comes down.Everything happens faster and everything costs less because trust has been established.Thats a dividend,a high-trust dividend”.1Historically,cultivating trust in financial services