As I reflect on our conference theme, “Repositioning the Financial Services Sector”, I conclude that while our why has not changed, our what and our how are facing disruptive challenges, including: Internationalisation of services Technological advances and disruptions Consumer pressure for cheaper financial products, convenience, and caring service Tough competition The demand for simplicity in a world of complexity Stricter international rules and standards How can and must we respond to these circumstances?
What must we do to reposition the sector? It is my belief that we must relook our business model.