Technology and innovation are transforming the financial services industry. Change is rapid. Business leaders cannot afford to focus only on current trends; they must also form a picture of the longer term. How will technology and innovation reshape the industry over the next 14 years? What types of innovation will emerge? Who will lead them? Will new players appear? Where? How will market and regulatory environments evolve? To explore these issues, the World Economic Forum and representatives of the financial services, information technology and telecommunication communities set out to develop scenarios for the future of financial services and how they might be affected by innovation. The objective of these scenarios is to explore how innovation will transform access to, and delivery of, financial services by the year 2020. The scenarios are the joint creation of those who contributed to the project. They extend beyond the assumptions and perspectives of any individual, interest group or organization.