The next few years will see dramatic changes to the way we use money, transact, transfer value, bank and insure ourselves and our businesses. These changes are driven by Financial Technologies (FinTech), but will affect every business in the world.
You’ve probably heard of Bitcoin, M-Pesa and Kickstarter, and might have used PayPal and online banking, but what do you know of the Blockchain, Insuretech, roboadvisors and the potential of peer-lending platforms? And have you and your organisation begun thinking about how changes in the way we work with money will affect your industry?
As the world changes, money changes. Throughout history, our use of money has evolved, from barter to coins, from banknotes to credit cards. Each of these changes in money coincided with a significant shift in the economy and world history. We’re seeing such a shift again as we head into the digital age. This session looks at this new digital context of work and what that means for money. We put FinTech into context with other changes happening in the world and sketch a picture of where money is moving.
‘The Future of Money’ is not just for bankers (and insurance and other people in the financial services sector) – it’s for everyone who uses money, enters transactions and has a bank account (yes, that’s everyone). It demystifies the revolution taking place in the financial world, and explains how the digital world will change money and how digital money will change the world.
This keynote presentation, workshop and/or strategic assessment tool explores the Future of Money.
The Future of Money – the transition process
This keynote, workshop or assessment process considers how we make transitions from one era to another and shows how we are in this transition process once again. The new future of money is here! These transitions happen in predictable cycles:
- We do things we have always done successfully, then something new comes along
- We layer the new thing on top of the old things in a “bolt on” process
- We, eventually, understand the power of the new way of doing things and we fully transition into the new era
Money is currently in the 2nd stage as banks try to bolt “digitisation” onto the way society has always used it. FinTech is the start of the 3rd stage. All of this change is driven by the evolution of the Digital Customer.
Since the global financial crisis initiated by the sub-prime collapse in 2008, society at large has lost trust in the traditional institutions and begun to look for alternatives. This loss of trust and erosion of value is the catalyst driving the direction of the future of money. The keynote looks at some of the characteristics of the digital customer and the impact on the future of money. The lens of the digital customer is used to look at several of the areas of Fintech development and the role they play in the future of money:
- Cryptocurrencies – like Bitcoin
- Distributed Ledgers – Blockchain is the best known of these
- Robo-Advisors
- Market place or Peer-to-Peer lending
- Crowd Funding and Crowd Sourcing
- Mobile Money – like MPesa
- Insurtech
The real power of FinTech, and the future of money, lies in its incorporation of other Digital Age innovations like Artificial Intelligence, Machine Learning, Augmented and Virtual Reality, and the Industrial Internet / Internet of Things.
The future of money touches on all elements of our lives.
Who is ‘The Future of Money’ presentation best suited for?
The Future of Money keynote presentation or workshop is aimed at organisations or teams who need to understand how the financial landscape around money is changing as a result of society’s move into the digital age.
This session is not just aimed at banks and financial institutions, like so much of the current research on FinTech is. It helps us all understand the implications of these changes for all businesses regardless of sector.
Why you should consider the ‘Future of Money’ as a keynote presentation or workshop
The insights and research from this presentation will enable you to:
- Position your business for the competitive and strategic consequences of the future of money,
- Proactively manage your business in light of the changes to your customers, market and extended value chain interaction with money
- Better understanding the future of your savings, investments, debt, cash and other financial resources.
