Banks now need a long term vision on a 10 year horizon. Focusing down on the payments industry allows us to see why more concretely, and could provide an inkling of what the rest of the banking landscape faces.

Developing a vision is critical to steering a business through the medium to long term, providing a tool to ensure that every major decision that is made helps move towards the end goal. But then you have to deliver. How?

The auto industry is facing enormous upheaval: new mobility models are already a reality, and huge amounts of resources are being invested both by OEMs and technology firms in autonomous drive vehicles. While insurers clearly see the opportunity from telematics-driven black box insurance, few seem to have looked much beyond this at the wider revenue possibilities, or considered the longer term impact on product, required competencies and distribution model.