6 Global Megatrends That Are Impacting Banking's Future

Before the pandemic, at the World Economic Forum 2018, Justin Trudeau addressed the audience by saying, "The pace of change has never been this fast, yet it will never be this slow again." As we look back, we realize these words couldn't be more true. Even in the past year, we have seen exponential tech advancements and changes in consumer behavior that have eclipsed what had occurred in previous decades. From the pandemic, we are able to see the emergence of megatrends across multiple industries that will impact banking, disrupting legacy business models, and having the potential to improve consumer's financial lives. Some of these megatrends are already well in process, while others are in their formative stage.