Last week I gave a keynote to the senior leadership team of a major financial services organization at their annual strategy offsite. My brief was to provoke and stimulate, taking them out of their current frame of reference on strategy.
My session dug into key themes such as rapidly declining trust in institutions, the rise of platforms, and decentralization driven by blockchain among other factors.
The reality is that financial services is an exceptionally broad space, and our long-established financial institutions bring together a wide and diverse set of services to their customers.
Newer players including fintech startups tend to address specific offers, attracting customers by doing them better than incumbents. This is illustrated by the well-known ‘unbundling’ diagrams, as shown below. Read more