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RAPPORT

The Role of Financial Services in Society

Understanding the impact of technology-enabled innovation on financial stability.

Regaining system stability and public trust has been a core challenge of the financial sector since the financial crisis.

This task has been further complicated by the rapid deployment of financial and technological innovation, which have fundamentally changed how a financial services company and the value it delivers are defined. As legacy business models and long-held value propositions in financial services are reshaped by these new ideas, key actors in the system must work to ensure economic growth does not come at the expense of systemic stability.

The Role of Financial Services in Society initiative was launched in 2012, with support from Oliver Wyman, to bring together a range of senior financial stakeholders, including leaders of financial institutions, financial policy-makers, leading economists and academics, executives of commercial firms that rely on financial services and representatives of civil society including consumer advocates and unions. Together, we are seeking a common vision for the industry’s role in society and, through that shared vision, a strengthened bond between the financial services industry and society at large.

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