Reinvent financial services or be disrupted - report warns
According to a new report by PwC and Luxemburg for Finance, three trends could disrupt European financial services if the industry does not reinvent itself.
- ‘Amazonisation' and the shift in power to consumers by online platforms
- The mainstreaming of sustainable finance underpinned by millennial preferences
- The multi-polarisation of Europe's financial centres due to Brexit
The report hails ‘Amazonisation' as the future of financial services in the continent, and it urges Europe's banks, asset and wealth managers, payment service providers and insurers to proactively embrace the trends which it claims are set to dominate over the next 5 years.
The full report can be seen here:
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