In this third article of our thought leadership programme around the transformation of Financial Services, we are focusing on how new business models are emerging.
In this article, written by the Economist Intelligence Unit and sponsored by Mazars, we explore how new models of financial intermediation appear to emerge, with the potential to trigger a break-up or unbundling of financial services as customers know them today.
Alongside new players will be new business models. In the first two articles in this series, we focused on how technology change and regulatory change are reshaping financial services. In this article, we focus on how new business models are emerging. “I’m seeing more change during the last two years than I did in the previous ten years. It’s a ‘must’ to transform–not just to improve, but to really transform,” says Vincent Bastid, CEO of Efma, the European Financial Management and Marketing Association.
As we will see, business model change is playing out at different rates and in different ways across the three key pillars of financial services: banking, asset management, and insurance.
In partnership with the Economist Intelligence Unit, Mazars has developed a unique programme of thought leadership to examine the current challenges the Financial Services industry is facing. The series of articles focuses on the current transformation of the financial services industry and its likely shape in the future from three different but related perspectives: technological, regulatory and business model transformation.
In this first article of our thought leadership programme around the transformation of Financial Services, we are discussing how technological disruptors are impacting the global financial services industry.
In this second article of our thought leadership programme around the transformation of Financial Services, we are discussing how financial services firms are dealing with a continued flood of regulation.