Conclusion

Abstract

Financial services industry is rapidly changing due to technological developments, increasing customer expectations and the shocks such as the pandemic. Digital platforms, cryptocurrencies and decentralisation of financial systems have become conspicuous features. The financial services landscape is rapidly evolving in response to changing customer expectations, technological developments and the shock of worldwide events like the Covid-19 pandemic. Blockchains and cryptocurrencies are being used to pay for financial transactions without paper money or credit cards, and some central banks are starting to offer or are at least thinking about using national digital currencies. The Target Group, a business services provider in financial services, believes that technological changes will enhance customer experience in two main ways. First, virtual platforms will become a more important medium for consumers to access financial products and services. Secondly, it is believed that the platforms will not only serve as a one-stop shop but also offer people personal solutions.