08 Jul MONEY TALKS: WHAT DO BANKING FUTURISTS AND KEYNOTE SPEAKERS DO?
Banking futurists and keynote speakers, at their core, are industry practitioners who specialize in spotting and analyzing trends in the finance and banking industry. In support of this goal, pros here will often employ a wide range of methods and tools to determine potential developments and changes, as well as forecast possible outcomes based on these trends. Often, the type of work they do is multidisciplinary, combining aspects of finance, technology, social sciences and other fields. Below, you’ll find some of the tasks they typically handle:
Market Analysis: Banking futurists study past and present data to get a sense of future trends in the banking industry. For instance, pros might examine factors like technology usage, customer behavior, economic indicators, regulatory changes and more.
Scenario Planning: Experts in the field will often use their findings to create different scenarios for the future of banking. Mapping out these situations can help banks plan for various potential outcomes and devise strategies accordingly.
Forecasting: Of course, many pros will also consider how technology and societal changes will impact the space too, looking at everything from the potential for digital currencies and blockchain technology to the impacts of shifting demographics on banking practices.
Consultation: Banking futurists often work as consultants, advising banks and financial institutions on potential future changes and how to prepare for them as well. You might see them present advice on topics ranging from investment strategies to digital transformation plans.
Innovation Development: Experts might also help banks develop innovative products, services, and strategies that take advantage of future trends. For example, creating new digital banking services, designing products for emerging markets, or crafting strategies to better leverage data and analytics.
Public Speaking and Publishing: Many banking futurists share their insights through public speaking engagements, books, articles, and other forms of publication… and also provide thought leadership in their areas of expertise, influencing how others in the industry think about the future of banking.
Education and Training: Folks in the space further tend to provide training or educational services to banks and other financial institutions, helping them understand potential future changes and how to adapt to them. Practitioners might develop training materials, offer workshops or seminars, or design full-fledged educational programs.
Please note, this role is highly strategic and often is held by individuals with strong background in finance, economics and/or technology. Given the fast pace of technological change, it’s also a role that often demands a commitment to continuous learning.
