Finance in 2035: My Predictions as a Technology Futurist
Opening Summary
According to the World Economic Forum, the global fintech market is projected to reach $324 billion by 2026, growing at a compound annual growth rate of 25.18%. I’ve been working closely with financial institutions across three continents, and what I’m seeing isn’t just growth—it’s a fundamental rewiring of how finance operates. The industry is moving from being transaction-focused to becoming intelligence-driven, from centralized control to decentralized ecosystems, and from human-led decision-making to AI-enhanced strategic thinking. In my consulting work with major banks and financial services firms, I’m witnessing a transformation so profound that within a decade, we won’t recognize the financial landscape as we know it today. The institutions that will thrive aren’t just adapting to change—they’re architecting entirely new business models that leverage emerging technologies to create unprecedented value.
Main Content: Top Three Business Challenges
Challenge 1: The Legacy Infrastructure Paradox
The financial industry is trapped in what I call the “legacy infrastructure paradox.” According to Deloitte research, financial institutions spend approximately 75% of their IT budgets just maintaining existing systems, leaving minimal resources for innovation. I’ve consulted with organizations where critical systems still run on COBOL code written decades ago, creating massive technical debt and security vulnerabilities. The challenge isn’t just technological—it’s cultural and operational. These legacy systems create data silos that prevent organizations from gaining holistic insights into customer behavior and market trends. As Accenture notes in their banking technology report, this infrastructure gap creates a competitive disadvantage that grows exponentially as digital-native fintech companies enter the market without these constraints. The real cost comes in missed opportunities and inability to respond to market shifts with the agility that modern finance demands.
Challenge 2: The Trust and Transparency Crisis
Trust in traditional financial institutions has been eroding for years, but we’re now facing what Harvard Business Review calls “the transparency imperative.” In my work with global banks, I’ve observed that customers increasingly demand not just security but complete visibility into how their data is used, how decisions are made, and how value is created. The 2023 Edelman Trust Barometer reveals that only 46% of people trust financial services companies, creating a fundamental business challenge that goes beyond reputation to impact customer acquisition costs and retention rates. This trust deficit extends to regulatory compliance, where the complexity of global financial regulations creates opacity that benefits neither institutions nor their customers. The institutions that solve this challenge will build unprecedented customer loyalty and market differentiation.
Challenge 3: The Talent Transformation Gap
The skills required in finance are undergoing the most dramatic shift in the industry’s history. McKinsey & Company projects that by 2025, the demand for technological skills in finance will increase by 55%, while the need for traditional financial analysis skills will decline by nearly 30%. I’ve seen this firsthand in organizations struggling to retrain their workforce while competing for scarce talent in AI, blockchain, and data science. The challenge isn’t just hiring new talent—it’s transforming existing teams while maintaining operational excellence. PwC’s Global CEO Survey shows that 77% of financial services CEOs are concerned about the availability of key skills, making this one of the most pressing strategic challenges facing the industry today. This talent gap creates innovation bottlenecks and slows digital transformation initiatives precisely when speed to market matters most.
Solutions and Innovations
The financial institutions leading the transformation are deploying several key innovations that address these challenges simultaneously.
Progressive Legacy Modernization
First, I’m seeing successful organizations implement what I call “progressive legacy modernization”—using API-first architectures and microservices to gradually replace legacy systems without business disruption. Major European banks I’ve advised are achieving 40-60% cost reductions in core operations through this approach while dramatically improving system resilience.
Blockchain and Distributed Ledger Technologies
Second, blockchain and distributed ledger technologies are creating new paradigms for trust and transparency. Institutions like JPMorgan and Goldman Sachs are implementing permissioned blockchain networks that provide immutable audit trails while reducing settlement times from days to minutes. The World Economic Forum estimates that by 2027, 10% of global GDP will be stored on blockchain technology, creating unprecedented transparency in financial transactions.
AI-Powered Decision Intelligence Platforms
Third, AI-powered decision intelligence platforms are augmenting human expertise while addressing the talent gap. I’ve worked with investment firms using AI systems that can process thousands of data points in real-time, enabling human analysts to focus on strategic interpretation rather than data collection. These systems are becoming increasingly sophisticated, with Gartner predicting that by 2026, AI will be pervasive in 90% of financial institutions’ operations.
Quantum-Resistant Cryptography
Finally, quantum-resistant cryptography is emerging as a critical innovation for future-proofing financial security. As quantum computing advances, current encryption standards will become vulnerable. Forward-thinking institutions are already implementing quantum-safe algorithms to protect sensitive financial data against future threats.
The Future: Projections and Forecasts
Looking ahead to 2035, the financial landscape will be virtually unrecognizable from today.
2024-2027: Digital Transformation Acceleration
- $324B global fintech market by 2026 (25.18% CAGR)
- 75% IT budgets consumed by legacy system maintenance
- 46% trust in financial services creating transparency crisis
- 55% increased demand for technological skills by 2025
2028-2032: Autonomous Ecosystem Development
- 80% routine financial processes automated by AI by 2030 (IDC)
- 10% global GDP stored on blockchain by 2027 (World Economic Forum)
- 90% financial institutions with pervasive AI by 2026 (Gartner)
- 40-60% cost reductions through progressive legacy modernization
2033-2035: Intelligent Finance Integration
- Emergence of autonomous financial ecosystems with self-optimizing networks
- Digital assets representing 10-15% of global financial assets by 2030 (Boston Consulting Group)
- Quantum computing enabling real-time risk modeling
- Brain-computer interfaces revolutionizing authentication
2035+: Invisible Financial Infrastructure
- Finance becoming invisible, intelligent, and integrated into daily life
- Blurring distinction between financial and non-financial companies
- Trust built through transparency and performance rather than brand legacy
- Ambient financial services seamlessly integrated into all aspects of life
Final Take: 10-Year Outlook
By 2035, finance will be invisible, intelligent, and integrated into every aspect of our lives. The distinction between financial and non-financial companies will blur as every organization becomes, in some sense, a financial services provider. Trust will be built through transparency and performance rather than brand legacy. The institutions that thrive will be those that embrace this transformation as an opportunity to create new value propositions and customer experiences. The risks are significant—cybersecurity threats, regulatory complexity, and potential job displacement—but the opportunities for creating more efficient, accessible, and personalized financial services are unprecedented.
Ian Khan’s Closing
The future of finance isn’t something that happens to us—it’s something we create through our choices, our innovations, and our willingness to transform. As I often tell the leaders I work with: “The greatest risk in times of transformation isn’t taking the wrong path—it’s refusing to leave the familiar shore.”
To dive deeper into the future of Finance and gain actionable insights for your organization, I invite you to:
- Read my bestselling books on digital transformation and future readiness
- Watch my Amazon Prime series ‘The Futurist’ for cutting-edge insights
- Book me for a keynote presentation, workshop, or strategic leadership intervention to prepare your team for what’s ahead
About Ian Khan
Ian Khan is a globally recognized keynote speaker, bestselling author, and prolific thinker and thought leader on emerging technologies and future readiness. Shortlisted for the prestigious Thinkers50 Future Readiness Award, Ian has advised Fortune 500 companies, government organizations, and global leaders on navigating digital transformation and building future-ready organizations. Through his keynote presentations, bestselling books, and Amazon Prime series “The Futurist,” Ian helps organizations worldwide understand and prepare for the technologies shaping our tomorrow.
