The report by the World Economic Forum (WEF), the Swiss-based corporate think-tank which runs the Davos summit of world leaders each January, says major disruptions are in store for many once highly profitable financial services businesses. The study, based on 15 months of interviews and workshops with executives from financial institutions and fintech start-ups, joins a flood of recent reports showing technology is eroding the bulwarks of the financial services industry just as it did in areas such as travel and entertainment a decade ago.