Vision for banking

Today’s balance of power is expected to shift.

Our research of 600 technology and banking leaders reveals that the next decade could see retail banking break away decisively from the certainties and assumptions of the past.

Accepted ideas about products, technology, customer needs, and business models are likely to change, and incumbents – while retaining significant advantages – must respond to growing threats from new entrants.

Using our unique FutureWorlds™ methodology, we framed four scenarios defined by technology’s growing prevalence and the relative importance of specialised or full-service business models. These worlds are:

	Centralised Big-tech The triumph of Silicon Valley sees retail banking disrupted by full-service technology firms originating from outside the banking industry.
	Equivalent Evolution Retail banking markets in most countries are dominated by a relatively small number of full-service incumbent banks offering a wide portfolio of products and services.
	Fragmented Finance A vibrant, innovative ecosystem sees the provision of retail banking increasingly shaped by specialised technology firms originating outside traditional banking.
	Disparate Domination Specialised incumbent banks, offering one or few niche products or services, have outperformed their rivals and now dominate the retail banking space.

Download the full report to access our six steps to help retail banking leaders develop new ways of thinking, enhance long term flexibility, and prepare for any future eventuality.