Financial services is the nervous system of our economy; a critical system that needs to operate efficiently and equitably for our society to function. The legacy 20th century business models in finance have become increasingly obsolete and most have not adapted to the fundamental paradigm shift—technological, institutional and societal—ushered in by our continuing transition from an Industrial Age to an emerging Information Age. It is essential that these business models be transformed in order to serve the needs of 21st century economies. There is an enormous, multi-decade opportunity to reimagine and rebuild financial services. We can create a system that is more efficient, more equitable and more resilient—and, therefore, better able to adapt to an ever-changing economy and society.
At Anthemis we see this future state of financial services as embedded, augmented and ubiquitous. Rather than finance being discrete, we see it becoming an intimate part of the products and services that drive our economies—an often invisible but critical societal infrastructure, similar to today’s communications or energy infrastructures. We imagine a world where finance is embedded deep inside the workings of our businesses and economies, powering the lives and progress of citizens and businesses rather than being a service consumed independently.
Instead of financial services being yet another sector that becomes internet-enabled, it will allow all sectors to become “financeenabled.” The result is not just finance on the internet, but rather the “Internet of Finance.”