DISRUPTION AHEAD: THE FUTURE OF FINANCIAL SERVICES
In the past decade, the financial industry has been faced by numerous challenges. These challenges are largely caused by the global financial crisis of 2008 and the technological progress that encourages the development of a digital banking system. Regulatory barriers on several applications of technology in the finance services industry have limited the effect of fintech in the industry. However, over the years, fintech disruption has been a main factor of consideration among many leading banks around the world as they seek to change their business structure to meet the current market demands. There are different fintech solutions that have existed and continue to be created as people seek to use technology to increase efficiency in their banking and financial services. According to the 2016 CGI Global 1000 outlook, “over 70% of leaders cite the rising influence of consumers’ digital behaviours. Customers expect personalized and seamless digital experiences across channels, with banking, retail and consumer services, and communications.” Fintech solutions offer borrowers, investors and businesses with faster, cheaper and straight access to capital for their various undertakings, making them highly competitive compared to the traditional lenders. Nowadays, consumers seek to avoid the middleman when performing transactions, a solution that is offered through technology.
The MASIC annual investment forum is an annual event centered on bringing investors, practitioners and scholars together to debate and share information pertaining to the latest trends and developments in the areas of economics, finance and investments.
The financial investment in Saudi Arabia is one of the activities that are connected to the economy’s growth, where the investment fund & portfolio have played a key role in financing different projects of various economic sectors, which have positive impacts in achieving the development plans being implemented in the kingdom of Saudi Arabia.
DISRUPTION AHEAD: THE FUTURE OF FINANCIAL SERVICES
