The economic and geopolitical situation will redefine the consumer experience in the next five years. By 2030, the financial industry will look markedly different.
From economic shocks and geopolitical instability to surging costs and rapid technological advancement, the pressures on banks, insurers, and other financial services providers have been both profound and unrelenting.
In this report, CRIF looks toward 2030, and one thing becomes clear: innovation must go hand-in-hand with accountability. Technological advancement vs. human confidence.
AI promises greater speed, scale, and personalization, and while one in five (18%) European consumers say they would most likely turn to it for advice on products and services to buy, opinion is split, as a quarter (24%) say they would be least likely to rely on AI for financial guidance.
Similarly, by 2030 a quarter of European consumers said they will likely make more decisions around providers based on their ethics, values and transparency, suggesting that there is a clear need for providers to promote trust, transparency, and human oversight of new services, like those powered by AI.
