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Just 20 years into the 21st century, we have already seen remarkable changes that we could never have anticipated. We've come up with 20 predictions that explore what the next 20 years may have in store for your organization.

Canadians conduct the bulk of their banking online today and they only step inside a bank branch for key, high-touch services such as applying for a mortgage or retirement planning. Twenty years from now, most those transactions will be done online as well.

Banking in the future will be invisible, frictionless and seamless—available at the point of payment and changing with your life events and every decision you make. The way consumers interact with banking and insurance providers will be more personalized, creating opportunities to enhance your life experiences. Imagine getting an up-to-the minute quote for auto insurance based on the choice of route you take to get from home from work. New data and analytics capabilities and the use of artificial intelligence (AI) will more directly tailor financial services offerings to suit your personalized needs.

This will give customers the banking products they need for their short-term and long-term goals. Personalized portfolio management will adjust to your dynamic risk profile reflecting both personal and market dynamics. We will have pay-as-you-live insurance, based on deep analytics and AI to process personal data in real-time.

Over the next two decades, countries will have their own central bank digital currency (CBDC). Open banking, where a single 'super' app rules them all, will offer financial and non-financial services.

True data standardization will be a reality in the next 20 years, with payments being global through a harmonized, international payments infrastructure. This will foster global cooperation, innovation and democratization in the hyper-connected world. Technologies such as blockchain will make this global payment system faster, cheaper and safer.

Within 20 years, successful global and local banks based in Canada will take an ecosystem approach by partnering with fintechs and technology platform companies to complement their offerings in the market.

Curious to find out what else could happen between now and 2041? Read our other predictions: