Fortunately, some financial institutions have started tackling these problems through business incubation programs. Moreover, through automation and adoption of new technologies for delivering financial services, it is possible for banks to reduce their operating costs, and pass on the savings to borrowers through reduced lending rates.
We are faced with the increasing interconnectedness of markets. There are the demographic demands of a growing millennial population and other dynamics. And we – local industries, businesses and regulators — must constantly keep up. But is survival the goal? Or shall we endeavour to thrive? Concern is raised that these disruptions will aggrevate inequalities among nations. Will we be able to cope?