FUTURE OF FINANCE

The financial services industry is currently experiencing one of the worst crises in history. But how did we find ourselves in this predicament? What are the underlying trends? What does the future hold for banks, insurance companies and pension funds?

In The Future of Finance, VODW partner Roger Peverelli and renowned futurologist Adjiedj Bakas reveal what the future has in store for the financial industry. The authors provide detailed analyses of the four megatrends which will bring about radical changes across the sector in the coming decades and readers will discover how, by understanding these changes, businesses and individuals can look forward to a bright financial future.

The financial sector currently faces unprecedented challenges.

First, it must find a way to overcome the credit crisis and, once the storm has passed, banks, insurance companies and pension funds will need to undergo a number of far-reaching structural changes. Globalization will give rise to an entirely new competitive arena. New emerging markets such as China, India, Russia and Brazil are gaining a strong foothold on the financial economic world stage. Sovereign wealth funds from the Middle East and Asia will become large shareholders of established Western banks and insurance companies. Corporations such as Google, which are not currently part of the sector, will apply for banking licenses, and following Virgin's lead companies such as EasyJet will launch financial products while Sony and Aegon will market insurance products in Japan.

The Western world will be faced with the problem of an ageing population.

At the same time there will be a religious, spiritual and ethical revival. Technology will radically change our lives. The power is now definitely in the hands of the consumer.

The Future of Finance takes megatrends from different realms and looks at the full picture, illustrating it with inspiring examples from all over the world.
The book contains contributions from top managers from the largest enterprises in the financial world, including the ING Group, Royal Bank of Scotland, Merrill Lynch and Zurich Financial Services.

The Future of Finance is highly accessible, contains little jargon and transcends hype. This book reaches beyond today's problems and is provocative and ambitious in its scope. A brand new future awaits financial service providers.

Three parts, four megatrends and the 2010-2015 management agenda

The Future of Finance consists of three parts.

• Part I summarises the history of money as well as the origins of banks, insurance companies and pension funds.
• Part II provides an overview of the four megatrends that are set to radically change the sector over the coming decades.
• Part III addresses the key challenges for financial services providers in both the long and short term. This part includes a 2010-2015 management agenda for banks, insurance companies and pension funds: how should we prepare for the future?

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