The pandemic, geopolitical disruptions, technological innovation and rising community expectations have created a context of transition for financial systems, with challenges and opportunities for regulators and financial services.
More than ever, finance and revenue flows are being linked to the needs of society and the environment, with increasing imperatives for ethical investment, effective taxation and environmental and social disclosures and reporting.
The availability of data and sophisticated analytics and AIs are changing how we understand and respond to risk.
Citizens and customers have developed legitimately high expectations when they interact digitally, wanting ease, convenience and a tailored experience as well as security and trustworthy and ethical handling of their data.
New classes of financial service provider and new models and products are challenging regulators and financial institutions to evolve how they conduct their business.
Financial services providers are forming coalitions with organisation in other sectors to tackle sustainability, improve social impact or create new, integrated responses to citizen demand.
Government agencies are working in more and more complex compliance environments, and rely more and more on sophisticated case management, CRM, analytics and data exchange to create community confidence in all areas of our financial systems.
New climate-responsive and nature-sensitive financial products are beginning to filter into the mainstream market, changing the dynamics of financial access.
Developing countries are leap-frogging traditional financial services, with innovation in mobile money, micro-loans and micro-insurance creating greater resilience, extending banking access and tackling the credit gap.
International development strategies in the financial space are creating new opportunities for marginalised people – including female entrepreneurs, small-holder farming families, micro-businesses and people experiencing displacement – building new opportunities for equity and growth.
How we help
ThinkPlace can work with you to co-design transformations, integrated solutions, functional coalitions and breakthrough programs and help you to execute the change, including:
- Business and regulatory strategy, helping organisations in the financial system to chart their forward path in a way that harnesses the disruption and pivots the status quo.
- Blueprinting transformations, taking a co-design approach to reshaping business models of organisations, sectors and agencies.
- Digital strategy, charting the future vision, direction and waypoints for organisations as they progress on their multi-horizon digital journey.
- Enterprise digital systems, bringing case management, CRM, analytics, identity management and knowledge management together to multiply impact and create usable, cohesive experiences.
- Service and product experiences that create useful, usable, ethical and inclusive outcomes for people – from customers to staff.
- Enhanced regulation, marrying digital and sophisticated regulatory theory to maximise voluntary compliance, create sectoral insight, and enable the optimal intervention .
- Ethnographic research and co-design, to understand the needs and behaviours of those who use or need financial services, from corporate clients in OECD countries to female entrepreneurs in remote villages in developing countries.
- Cultural journeys, helping staff and intermediaries reimagine their role, their customer-orientation, their capacity to take calculated risks and drive innovation, and their commitment to ethical, sustainable and accountable operation and innovation.
- Digital ethics, assessing your ethical risk and opportunity across ThinkPlace’s six digital ethics dimensions, and creating the frameworks, controls, cultures and accountabilities needed to ensure ethical use of digital and data.
- Digital societal transitions, shaping national digital policy, law and programs in a way that is conscious of societal trends, trust and social licence, sustainability and equity.
And much more.