As financial services undergo some transformative changes, we talk a lot about where the puck is headed. The company, product or service or set of technologies that can answer this question is at a huge advantage as incumbents invest in their digital future and tech firms are gunning for their markets.

Nikhil Lele has been thinking about the future of finance a lot. The EY partner leads digital business for the firm's financial services sector. And for the last nine months, he was the lead author and architect of a research study the firm recently published called The Next Wave of Consumer Financial Services.

Nikhil and I discuss how he sees consumer financial services being reframed over the next few years and why the move to subscriptions — like we see with Netflix or other popular consumer services — will likely make a big mark on the industry.