The Future of Financial Services

In the past ten years, the Financial Services Industry (FSI) has seen tremendous change. We have witnessed an overall decreasing growth rate, accelerating churn, and a competitive landscape – a perfect recipe for a deep industry transformation that will accelerate even more in the years to come.

Although subscriptions are gaining massive traction in this field, many established FSI players haven’t changed their business and operating models in the past decade due to lack of flexibility and slow time to market. As a result, we sought to articulate what pragmatic strategies can be applied to embrace the Subscription Economy principles at a high-level, as well as providing a flavor of what subscriptions could mean per business segment. From retail banking to non-life insurance – one can assume that the approach differs – yet the common denominator is more flexible, personalized and holistic services.

In this event, Michael Mansard, Zuora’s Principal Director of Subscription Strategy Group with special guest Duncan Cooper, Head of Data Product Strategy at HSBC Securities Services, will share findings related to:

• Subscription Pricing & Packaging Transformation: applying Subscription Economy principles to existing or upcoming core financial products
• Monetization of non-core & ecosystem services: creating new revenue streams by capturing adjacent customer use cases and journeys, that in returns fosters core financial services revenues
• Scale up of Subscription initiatives: making the most of embryonic subscription offerings you may already have in your portfolio
• Subscription Economy Enabler for the Real Economy, as FSI can have a very unique role in scaling the global transformation across industries