PracticeConsultingConsultation begun on future of financial services

Consultation begun on future of financial services

How can the UK's financial services sector prepare for the world of 2010? This and the question of how the global e-economy, the rise in the number of knowledge-based businesses and the changing needs of consumers are addressed in a government consultation exercise.

These are among the questions raised by the Foresight Financial Services panel in a series of consultation papers published by the Department of Trade and Industry.

The reports mark the start of a UK-wide debate on the future of financial services.

Launching the debate, panel chairman Tim Jones said: ‘The financial services sector is facing a decade of unprecedented change. Some of these changes are already underway, such as the rapid emergence of e-banking and the globalisation of markets. Other trends will be more complex, for example the shifting relationship between individuals and financial services providers as developments in internet technology bring investment decision-making – and risk – into the home.’

The consultation continues until 15 September 2000 and is open to all. The results will contribute to the Foresight Financial Services panel’s visions for the future and priorities for action, to be announced in November 2000.

Foresight Financial Services Panel

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