How future megatrends will disrupt Banking and Insurance in 2040.


Sommersemester 2019 - T-Systems


The main goal of the project was to create a transformation strategy by emphasizing recommendations for the banking and insurance industry to satisfy future customer needs. In order to determine this strategy, current core competences of both industries were analyzed, and two future scenarios were created. The result is a guidance to find out how banks and insurance companies should reinvent themselves in order to remain valuable players in 2040.

Initial situation

To counter the uncertainty about banking and insurance companies in the future and thus provide the best technological and digital support for this sector, the development of the market needs to be discovered. For this reason, T-Systems initiated a cooperation with WU students to work out a strategy to prepare for future trends and needs and, subsequently, the digital transformation of the banking and insurance industry.

Methodological Approach

Throughout the semester, the team analyzed 16 trends in the following categories: technology, individualization, society and environment. The combination of future trends and core competences led to two future scenarios: a futuristic, far-sighted one and a conservative, short-sighted one, from both of which human needs like convenience, flexibility, sustainability, healthy lifestyle and efficiency were derived. So, after imagining what the world would look like in 2040 and which needs will exist, customer-centered future products and services were developed. As a result, by determining the impact of current core competences of both industries in the future, a digital transformation strategy was created.


As a result, the report provides advice for T-Systems to provide best services for banking and insurance companies in 2040, based on trends, core competences of both industries and future human needs. Approaches such as business model innovations for data management, synergies with other players in the market, innovative tracking sensors and robots as best friends underline the importance of digital awareness.

Cooperation Partner

  • T-Systems
    Rennweg 97-99
    1030 Wien

Contact Person

  • Stefan Wokalik

  • Natalia Kunicka

  • Luis Gringinger

Student team

  • Franziska Eurich

  • Teresa Kiefer

  • Vladimir Kornilov

  • Martin Meister

  • Fiona Shoro


  • Linn Kretzschmar, M.Sc.

  • Tuong Vi Sophie Quach, MA

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