Design Forecast 2016

Gensler Design Forecast 2016
Financial
Services Firms
Disruption leads
to reinvention
A strong sense of mission and purpose,
focused globally and/or on a specific
community, will have greater importance
to financial services firms and their
employees. This will impact both physical
and digital space. Look for the sector to
begin emulating the tech sector in its efforts
to provide high-end amenities and compete
for the very best talent.
In addition, retail and private banking
(or wealth management) will reinvent the
customer experience to make it more
individualized, while at the same time
improving the virtual banking experience,
especially on smart devices.
Competition is growing, as alternatives to
traditional consumer banks crowd into their
space. This will push the newcomers and
the legacy brands to differentiate themselves.
How they will do so is an open question,
especially for large banks that have to cover
multiple regional and demographic markets.
The task is easier when the focus is sharper,
but even then, the constant evolution of
technology can quickly disrupt those plans.
As technology simplifies transactions—or
cedes them to artificial intelligence—the
potential for disruption will only grow larger.
But this also creates openings for the sector
to take the lead in developing technology
to support its activities. Growth of this part
of the business is already gaining momentum
with the rise of tech-like work settings and
the tendency of financial tech accelerators
to collocate with their clients.
Visa, San Francisco
52
53