The Future of the Financial Intermediary System in the Bank 4.0 World

Book review

Abstract

Brett King is a renowned futurist and highly reputed author of numerous publications that have attracted a high level of response from the professional field. In this work, he explores the future of banking in the context of a new paradigm shift in the financial intermediary system, in a world developing at an unprecedented speed. In this ground-breaking book, he reconsiders the future business model of banks and provides guidance on how to imagine and realise the vision and strategy that could ensure the future survival of banks in the face of the challenges posed by FinTech companies in a radically changing technological environment. To justify the predictions, the publication presents a wide range of case studies and analogies from which it turns out that the banking system is no exception from development trends in other sectors. The main finding of the publication is that – without a major strategic change – traditional financial institutions will not be able to survive in the future even if they are shielded under a protectionist umbrella, in a world where 200,000 smartphones are sold every hour, because they are simply not quick, f lexible and agile enough to keep pace with FinTech firms.