Managing my financial journey
Managing my financial journey

Start this free course now. Just create an account and sign in. Enrol and complete the course for a free statement of participation or digital badge if available.

2.3.3 Financial services business – changing technology

In this video, David Harrison of True Potential LLP talks about the technological changes that are changing the way we are conducting financial services business. He also provides a very interesting insight into the absence of an age divide when it comes to the way the public are adjusting to these changes.

Download this video clip.Video player: ou_futurelearn_managing_my_journey_vid_1145.mp4
Copy this transcript to the clipboard
Print this transcript
Show transcript|Hide transcript
Interactive feature not available in single page view (see it in standard view).

Since the mid-1990s, the financial services industry has been undergoing a large amount of change driven, in part, by the advent of the internet and other digital services that facilitate new ways of making financial transactions.

A 2015 survey on behalf of True Potential LLP showed that the use of digital services, including online, smartphone and wearable technology, is most popular for clients when it comes to managing savings and investments. The survey found that ‘almost 55 per cent currently use digital services to manage their savings and investments, compared with only 34 per cent who use face to face services and just 11 per cent who now use telephone banking’ (True Potential, 2015, p. 13).

New advances in technology are making the use of online and digital services easier and more accessible across all age groups. The survey data revealed that, looking ahead 5 years, 15 per cent believe that they will use either a smartphone or a wearable device as their primary way of managing savings and investing.

Take your learning further

Making the decision to study can be a big step, which is why you'll want a trusted University. The Open University has 50 years’ experience delivering flexible learning and 170,000 students are studying with us right now. Take a look at all Open University courses.

If you are new to University-level study, we offer two introductory routes to our qualifications. You could either choose to start with an Access module, or a module which allows you to count your previous learning towards an Open University qualification. Read our guide on Where to take your learning next for more information.

Not ready for formal University study? Then browse over 1000 free courses on OpenLearn and sign up to our newsletter to hear about new free courses as they are released.

Every year, thousands of students decide to study with The Open University. With over 120 qualifications, we’ve got the right course for you.

Request an Open University prospectus371