Financial services trend 2016

Financial Services Trend

Top 5 trends in the industry in 2016

presentation by Khandakar Joyef (15 May 2016)

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

Fintech adoption

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

Millennials being tech savvy

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

Canadians debt

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.

Housing price

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

Using channels for banking

Thank You!

Khandakar Joyef