The Great Convergence - What Financial Institutions Can Do To Get Ahead

Learn how FIs can gain momentum ahead of the great convergence by re-thinking their business model.

In brief

• We are on the cusp of a few once-in-a-generation changes that are creating a ripple effect spanning many aspects of peoples' lives, with financial services at the centre of the ripple.
• Jumping on this critical inflection point to reimagine what your institution does, how and why can be a key step towards maintaining relevance in a future that's still taking shape.

Why? What financial services industry observers are now calling "the great convergence" is characterized by four forces driving monumental change.

1. Portable identity or self-sovereign digital identity: From provincial to federal rollouts to vaccine passports and everything in between, self-sovereign identity and personal data management mean individuals — and businesses — will have greater control over their identity. Ecosystem players — such as banks, insurance companies, utilities