A Short History of the Financial Services and How Technology Has Helped and Hindered
This chapter builds on top of the first chapter by providing a chronological history of how the industry has evolved over the past 50 years albeit with a heavy focus on how technology has helped (and, in some cases, hindered) this development. (This chapter is not meant to provide a detailed chronological history with in-depth discussion, but to provide a sufficient context for this book by explaining how the industry has evolved with a particular nod to technology.)
This development can be summarized in the following four stages which do have a certain amount of overlap.
Figure 3.1 The four stages of the financial services technology evolution
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