Discover the secrets of the world’s most innovative financial institutions

A new study finds that the vast majority of institutions around the world are in the process of being transformed into new, low-cost, global financial services hubs, while still being in the business of buying, selling and trading money.

The study, published in the journal Financial Innovation, looks at how many of the largest financial institutions in the world—more than $3 trillion—are in the midst of the transformation.

The findings have major implications for how the global financial system evolves and the way the world manages its money.

For example, these findings could have a big impact on the way policymakers manage the global economy and finance systems, as they could lead to new policies that would allow smaller and more diverse banks to flourish.