Private Banking and Wealth Management Futures 2030

Greater China Perspectives

verfasst von: Dr. Jörn H Bühring

Verlag: Springer Singapore

Buchreihe : SpringerBriefs in Finance

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

Inhaltsverzeichnis

Über dieses Buch

This book engages the reader around different perspectives between forecasting and foresight in strategic design, drawing insights derived from a futures study that can be applied in form of a design-inspired foresight approach for designers and interdisciplinary innovation teams increasingly called upon to help envisage preferable futures. Demonstrating this process in applied research, the book describes a 2016 Financial Services industry futures study to the year 2030. An industry increasingly at risk in dealing with uncertainty, the Financial Services sector, is a core pillar of economic activity in most markets, such as greater China, and inherent within are major drivers of change linked to consumer behaviors, new technology and disruptive business models. While the financial services industry exemplifies an ideal case for design-inspired foresight, the aims of this book are primarily to establish the peculiarities between traditional forecasting applications and a design-inspired foresight visioning approach as strategic design activities for selecting preferable futures. Underlining the contribution of this book is the value of design futures thinking as a creative and divergent thought process, which has the potential to respond to the much broader organizational reforms needed to sustain in today’s rapidly evolving business environment.

Inhaltsverzeichnis

Frontmatter

Chapter 1. Introduction

Abstract

In this chapter, the main arguments are put forward as to why leaders in design and business innovation must not only adapt to the current circumstances, but to think of, and prepare for the future. With the emphasis placed on multi-disciplinary teams having to work together to identify with macro and micro trends from which user engagement opportunities and possibilities for consumer-directed value creation, the emergence of new approaches toward imagining preferable futures are highlighted. The chapter puts forward the notion that developing a deeper understanding of the forward-looking perspectives which are relevant to Private Banking and Wealth Management futures (greater China) to the year 2030. Here, the Delphi method is introduced, which was used as a process to engage with a cohort of business and academic experts with specific knowledge in the field to arrive at a set of preferable wealth management futures scenarios. Statements of the study objectives are presented, and the chapter concludes with an outline of the research report outline and its contents.

Jörn H Bühring

Chapter 2. Mega Trends—Introduction

Abstract

What are the mega trends and drivers of change which are likely to have significant impact on business and society to the year 2030? Key trends are presented at a high-level, and discussed for their potential implications.

Jörn H Bühring

Chapter 3. A Delphi Summary of Desired Futures 2020 and 2030

Abstract

The Delphi method helped develop a deeper understanding of how experts in the fields of private banking, wealth management, technological innovations, and social discourse consider future trends, developments, and related forces likely to lead to opportunities and emerging possibilities in the private banking sector. Qualitative research methods, and the use of foresight processes and tools, are introduced in what the author referrers to as a design-inspired foresight approach. Specifically, this chapter lays out the participant sampling, research design, study questions, and approaches taken to illicit current and emerging issues from experts in Financial Services over several Delphi rounds probing into the future (2020, 2030) from four perspectives:—the organization, market, industry, and the Chinese consumer. The analysis of the Delphi survey produced a total of 237 issues, and 8 scenario statements across two time horizons.

Jörn H Bühring

Chapter 4. Delphi Analysis—Desired Futures 2020, and 2030

Abstract

In the chapter, a comprehensive view toward desired futures is presented in form of synthetized statements from four different perspectives (the organization, market, industry, and the Chinese consumer), which a group of experts considered as desired scenarios of the future Private Bank (PB) in 2020, and 2030. Consensus among the Delphi panel toward specific statement features are visualized (data visualization) by their mean scores, and the likelihood of their occurrences.

Jörn H Bühring

Chapter 5. Discussion and Implications

Abstract

The results of the implementation of the Delphi method are discussed in this chapter; the methodology has proven its usefulness in this design-inspired foresight study involving experts who shared their opinions across a multitude of current and future perspectives. This novel approach has produced over 237 issues, which were grouped into four major issue clusters, comprising of eight distinctive groups, and 25 sub-issue groups. The study has demonstrated a general agreement among the experts that the current model of the private banking organization will cease to exist. Thus, foresight should be an essential part of organizational strategy, innovation, learning, navigating disruption, making sense of complexity, and adjusting to uncertain futures. The chapter concludes with implications, reported evidence in support of developing futures scenarios, and the primary considerations which this Design Foresight Delphi study addressed, are summarized.

Jörn H Bühring

Chapter 6. Methodology

Abstract

In this final chapter, the design-inspired foresight approach is presented; this includes the preparations needed to engage with, and indeed, prepare, a panel of experts by adopting a design-inspired foresight process. Other success criterion are presented, and a step-by-step approach is discussed; this includes inspirations for critical thinking techniques, online survey tools, data analysis frameworks, and suggestions for post Delphi activities leading toward inventions of preferred, or indeed, desirable futures.

Jörn H Bühring

Titel: Private Banking and Wealth Management Futures 2030
verfasst von: Dr. Jörn H Bühring
Verlag: Springer Singapore
Electronic ISBN: 978-981-16-3395-9
Print ISBN: 978-981-16-3394-2
DOI: https://doi.org/10.1007/978-981-16-3395-9