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Reinventing financial services for a digital century - what did you learn at Lift11?

February 28, 2011 - 15:28 — Sean Park

What did you learn at Lift11? Workshop leaders share their 5 take-aways from interactive sessions with Lifters. This is one is courtesy of Sean Park who led a workshop on reinventing financial services for a digital century.


The goal of this workshop was to introduce a new contextual framework for thinking about how the financial services industry might be more optimally structured in the future. Based on this framework, the group explored innovative approaches to providing and delivering various financial services.

Thanks to workshop participants, the following points emerged:

  • The vast majority of people have lost trust in mainstream financial institutions and have exceedingly low expectations of them.

  • People intuitively sense that technology should be enabling a much more intuitive and customer-friendly experience (but this isn't yet the case).

  • Despite having very interesting ideas about how these services might look and what they might offer, many people are resigned about having to put up with the status quo and find it hard to envision credible alternatives.

    • Want to know more? Watch the Financial Reformation Trailer or check out the workshop presentation.

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