BANCA D’ITALIA  The Governor’s Concluding Remarks Annual Report 2020  17  The new technologies are revolutionizing the entire value chain of the finance industry, well beyond the perimeter of the banking system, with innovations that could lead to better risk measurement and management, expand the potential customer base and deliver significant reductions in costs.
It is not possible to predict what the new market configuration will be, but it is clear that the new equilibrium in the credit intermediation and asset management industries will be different from today. Banks unable to prepare for change and to adapt rapidly are destined to lose ground fast.