The industry's future, Thompson says, may be more defined by adjusting business models, rather than adding digital layers onto existing services.
Speech by Charles Randell, Chair, Financial Conduct Authority and Payment Systems Regulator, delivered at Reuters Newsmaker event, London.
The centre says it engages with “governments, leading companies, civil society, and experts from around the world to co-design and pilot innovative new approaches to policy and governance in the Fourth Industrial Revolution.”
A digital process engineer analyses, assembles and optimises these workflows, adjusting them constantly to maximise throughput and minimise friction.
The CBI’s survey of Square Mile firms also reveals that 70 per cent of banks, insurers and investment managers say they are “confident” they will have plans in place by the time the UK leaves the EU at the end of March 2019