Editor's note: See essays on the Finance Flash Forward homepage.
Consider for a moment how much our financial markets have evolved over the past decade.
Back in 2006, most of us still weren’t using online banking. Mobile banking? Mobile trading? Hardly. The iPhone hadn’t even been introduced. If you needed a loan, you had to walk into a bank in person. Online financing platforms, mortgage apps and crowdfunding sites weren’t even in the conversation yet. Chip readers? Swipeless payments? Bitcoin? At the time, all science fiction.
Here’s the thing: There’s nothing to suggest we aren’t going to see just as much innovation and evolution in the capital markets space over the next ten years that we have witnessed over the past ten years. If anything, the changes will continue to come more quickly between now and 2026.
Question is, will we embrace these innovations or put up impediments to deter them?
It’s a question that’s at the heart of a new series of essays—Finance Flash Forward—compiled by the U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness, and it’s one that will be front and center during the group’s annual Capital Markets Summit next week in Washington.
In the essay series, we asked some of the country’s leading financial executives and technology leaders to think about the current state our capital markets, the challenges we’re facing now and ones on the horizon, and how we’re preparing for the decade ahead. Will digital currencies like Bitcoin take off or fade away? What will financial services look like for investors, consumers and companies? How will small businesses access the capital they need to grow and create jobs?
Equally important: Will our regulatory systems keep up with all the looming changes in technology?
Next Wednesday, CCMC’s Capital Markets Summit will address those same questions, with business leaders such as U.S. Chamber of Commerce President and CEO Tom Donohue, Charles Schwab Corporation President and CEO Walt Bettinger, SEC Chair Mary Jo White, Sen. Joe Donnelly (In.), Sen. Pat Toomey (Penn.), Rep. French Hill (Ark.) and Rep. Randy Neugebauer (Texas) all scheduled to speak about the current state (and the outlook for) America’s capital markets.
Check out the first few essays on the Finance Flash Forward homepage, and check back over for new installments. In addition, you can find out more about the Capital Markets Summit on the event page.