financial services trend 2016
TRANSCRIPT
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Financial Services Trend
Top 5 trends in the industry in 2016
presentation by Khandakar Joyef (15 May 2016)
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1. Fintech Disruption
Introduction of new technology based models capable to provide financial services across the product shelf.
Why it matters: Millennials demographic demands new
digitally driven customer experience Drive for cost savings
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Fintech adoption
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2. Millennials matter
Millennials have grown up into financial services consumers.
Why it matters: Millennials are digital savvy and expectations
remain high for service delivery and functionality
Put high value on advice and human interaction on purchase journey
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Millennials being tech savvy
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3. Household Debts
The average Canadian household has nearly $ 1.66 in debt for every dollar of disposable income.
Why it matters:Debt is a product (opportunity)for banks. Millennials are digital savvy and expectations remain high for service delivery and functionalityThey put high value on advice and human interaction on purchase journey
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Canadians debt
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4. Potential housing bubbles
Warnings have piled up nationally about potential bubbles in Toronto and Vancouver.
Why it matters: Directly related to sale of home mortgages and
insurance products Indirectly, consumers prosperity drive the
demand for credit card, travel spending and investment loan and inflow.
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Housing price
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5. The branch of future
Technology innovations and cost cutting have resulted in closing of branches of banks.
Why it matters: Customers yet have preference to visit
branches for complex financial issues Clients will move easily between many
channels in a single purchase journey expecting service providers to maintain pace
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Using channels for banking
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Thank You!
Khandakar Joyef