The scope and speed of evolution in regulation, customer behaviour and technology – coupled with the emergence of new competitors – mean that the future of FinTech business will not be a continuation of the past. New technologies will transform the market as we know it, providing both opportunities and challenges for financial institutions.
“We’re at a tipping point for consumer and business transformation, with globalisation, technological change, digital growth, regulatory compliance, a changing economy and the future of work all impacting 2019 digital consumer trends.” – The Financial Brand
Changing customer habits and behaviours in today’s digital economy, and advancements in technology, means that FinTech companies – large and small – will find it necessary to embrace more fully new trends that will boost how business is done, in line with rapidly moving industry developments.
Is your FinTech firm ready for further technology developments in the year ahead?
Cognitive computing and Artificial Intelligence
The rise of cognitive computing will create better understanding of customer preferences and offerings, giving real-time insights and information processing.
Do you have the optimum managed IT in place in readiness for this quantum progress? Are there any further tech industry insights that will enable the best systems and platforms?
Mobile device preference and management
Research predicts that 35 million people globally will use mobile transactions as their preferred choice of platform by 2023. This means that businesses need to be ready for a mobile-first strategy, as well as crucial mobile device management measures to be taken in order to protect businesses’ confidentiality, and data privacy.
Businesses are finding that the need to become fully digitised, secure, and regulatory compliant will see a further uptake of cloud-based solutions for FinTech companies, and others. Do you have the right cloud IT architecture in place that will provide you with consistency, efficiency, and security in the digital age?
Cloud Computing is a constantly evolving technology ecosystem that is making a big impact on how business is being run and done today; with on-demand access – and connects you to solutions and practices that simplify and empower. See the power of our cloud.