The growth in economic power within the emerging markets and their ability to leapfrog developments in mature markets will aid the creation of a state-of-the-art payments ecosystem, which will set the pace for markets worldwide
Payment platforms will evolve from being commoditised propositions to strategic solutions that complement and add value to people’s lifestyles. While banks can often have a limited understanding of their customers and operate a vastly complex product set, the winners of 2030 will turn this on its head. They will develop a much more comprehensive understanding of their customers and dramatically simplify their product range. The result will be a significantly enhanced customer experience, with lower levels of operational risk and much more customer-centric business models.
The key factors shaping this transformation will be the impact of technology, shifting customer expectations, changing global demographics, the rise of e-commerce and the growing impact of regulation.
Asset and Wealth Management Industry Leader
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