During this session futurist keynote speaker Matthew Griffin and other thought leaders discuss the future of the global financial services industry and its implications on talent and hiring within the industry.
Matthew GriffinFounder, President and Futurist, 311 Institute
G7 · G20governments advised
850+keynotes
102countries
17codexes
Finance and banking sessions forShawbrook BankStandard Chartered BankThe Institute of Internal AuditorsWolters KluwerCrown Prince CourtUAE Financial Markets Association
Featured inBloombergThe Wall Street JournalThe Telegraph
About this keynote
Firstly, it was a great honour to be asked by the Financial Academy, the Kingdom of Saudi Arabia’s financial services learning and development body, to join thought leaders from Ernst and Young, and the Creative Leadership Institute, to discuss the future of the financial services industry and the actions the regions financial services organisations need to take today in order to prepare themselves and their employees for it in Riyhad.
During the event we heard from Terence Mari, who discussed the future of leadership, as well as from leaders from HSBC and the kingdoms central bank, and then went on to unpack the technologies and trends that will shape the industry and its hiring and raining practtises for the next decade.
For my part I discussed the big picture changes including the four great system level disruptions as we move from traditional banking, to Fintechs, to Decentralised Finance (DeFi), open source banking which is not the same as open banking, and the arrival of fully autonomous hedge funds in Hong Kong and Wall Street.
Perhaps most importantly of all I then also discussed how a Smart Fridge can disrupt your bank, how Robo-Advisors could end up paying everyone a Universal Basic Income, and how crypto mining could help governments eliminate all taxes on citizens.
311 Intelligence
What this means for your leadership team
Four disruptions, not one.
The session set out four system level shifts: traditional banking, Fintechs, Decentralised Finance and open source banking. Autonomous hedge funds in Hong Kong and on Wall Street sit on top of these. A leadership team should map which of them touches its own business first.
Open source is not open banking.
The two terms are easy to confuse, and the session was clear that they differ. Open banking is already widening into open finance as countries force banks to share customer data. Teams should treat that as a present task and open source banking as a separate question.
Skills and hiring need to move now.
The event focused on what organisations should do today to prepare their people for the next decade. Non-banks already hold over half of global financial assets, and regulators are moving into decentralised finance. Hiring and training plans built for the old shape of the industry will fall behind.
Three questions for your next leadership meeting
Which of the four disruptions reaches our customers first?
Are our hiring and training plans built for the next decade?
Do we understand how open source banking differs from open banking?
The trends and technologies behind this session
From the 311 Starburst, the 311 Strategic Intelligence Unit’s map of the technologies and trends shaping the next 50 years.
What does this session mean for financial organisations?
It tells them that change will come from several directions at once, not one. Traditional banks face Fintechs, Decentralised Finance, open source banking and autonomous funds. The advice is to prepare people and plans today, before these shifts are in wide use.
How does open banking relate to this?
Open banking is rated Act now, with wide use in 2025. It is widening into open finance as countries force banks to share customer data. The session also stressed that open source banking is a different idea.
How does decentralised finance relate to this?
Decentralised finance is one of the four disruptions in the session. It is rebuilding lending and trading as code, and regulators are moving in. 311 expects wide use by 2032 and rates it Explore.
How does the rise of non-bank finance relate to this?
Funds, insurers and other non-banks now hold over half of global financial assets and take on bank roles. This supports the session's view that the industry is being reshaped from outside the traditional bank. 311 rates it Act now.
How can 311 brief our leadership team on this?
311 offers a private executive briefing or leadership workshop, tailored to your sector. It is delivered in person first.
Bring this to your leadership teamA private executive briefing or leadership workshop, tailored to your sector. In person first, anywhere in the world.
Analysis by the 311 Strategic Intelligence Unit, from Matthew Griffin’s session and 311 data.
If Matthew gave this session today
Could whole industries soon be disrupted in a day?
The Future of Exponential Disruption examines the forces accelerating global disruption, the same forces that could see autonomous, AI-driven banks reshape financial services.
