Establishing total wellness ecosystems with totally new cost structure and engagement channels
The world is moving towards a total wellness ecosystem that provides holistic solutions around the user. This is driven by technology, regulation, and changes in customer mindset and expectations (tied closely to socioeconomic and demographic trends). Successfully adapting to such change requires developing new business models and engagement channels that intelligently leverage data.
Financial institutions would require the following building blocks
(i) New distribution channels built on ecosystems that engage and delight consumers more frequently; (ii) Infrastructure that massively reduce product manufacturing cost and accelerates delivery time; (iii) Applications that enhance operational efficiency.