Future of Financial Services

A Look At The Forces Shaping The Future of The $163 TN Global Banking Industry

“Giants are not what we think they are. The same qualities that appear to give them strength are often the sources of great weakness.”
― Malcolm Gladwell, David and Goliath: Underdogs, Misfits, and the Art of Battling Giants

The Financial Services Industry was always a bastion of incumbents with very high barriers to entry. Silicon Valley has given birth to many disruptions meant to upend the world of finance. However, along with other forces, what is upending finance today is a product of anonymity — a cryptocurrency created by the ‘Banksy of the Blockchain’ world — ‘Satoshi Nakamoto’. Although mathematics disrupted finance through financial engineering and created complex, derivative instruments such as swaps, Collateralized Debt Obligations (CDO’s), nobody foresaw cryptography upending finance using Blockchains as the decentralized networks of the future. Just as an anonymous creator is reshaping finance through Bitcoin’s underlying technology, forces such as demographics, the need for financial inclusion, advent of technologies such as Blockchains and Artificial Intelligence (AI)…