The rapid pace of progress has brought about profound transformations of the banking industry: new products and sales channels emerge, while customers’ needs and expectations continue evolving. Amid fiercer competition, traditional banking operations promise ever-smaller returns, and banks have to look for new activities to engage in, such as building their own “ecosystems”.
Meanwhile, non-banking companies are venturing into areas that used to be banks’ exclusive domains. Where will these trends take us in the next ten years, and what will financial intermediation look like in the future?