Creating the financial institution of the future
A tsunami of change will force Canada’s stable but cautious financial services sector to embrace smart risk.
Canada’s financial services industry is often touted for its stability. But the very qualities that have created steady profitability and made the industry the envy of the world — regulation, prudence, caution, tradition — can no longer protect it from a tsunami of change.
Traditional models are being disrupted by new technologies and market entrants. Shifts in consumer behaviour – such as the rise of mobile payments – are challenging established revenue streams.
Financial services leaders can no longer just talk about disruption in the sector. They need to act and act now. Our multi-part series on the future of FSI in Canada starts with a “big picture” overview followed by three chapters delving into critical areas such as:
Maintaining profitable growth requires a new mindset. Caution is out and smart risk-taking is in. Our series offers in-depth analysis and actionable advice.