The tide of technocratic modernisation impacting the finance industry is, undoubtedly, unrelenting.

Unfortunately, the sector as a whole runs the (ironic) risk of being locked in the past, as these significant investments in both back office and customer facing technologies tie the finance industry into an increasingly archaic, product-centric paradigm.

Consumers do not want yet another siloed financial product, no matter how efficiently and cost-effectively it is delivered.

They want freedom from economic stress, borne of an unbiased and fiduciary-like view of their ‘personal economy’, coupled with individualised guidance on how, when and where to make improvements in their savings, expenditures and investments in order to meet their specific life objectives.

The technology to achieve this is already here.

Sadly, most financial services organisations are seeking to implement it in a manner best described as a doubling down on their current horseless carriage oligopoly...

#financeindustry #view #customerexperiencefail #disruptionopportunity

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