The community of business, FinTech, banking consultants/professionals, in addition, tends to heavily rely on false indicators in an attempt to remain relevant and make predictions. FinTech, often, is one of those wrong indicators, and I will further try to expand on why. FinTech trends do not predict the future, they often only represent an immediate business opportunity that spun out of control and beyond reason.
Many business leaders are keenly aware of the potential value of artificial intelligence, but are not yet poised to take advantage of it. As the conceptual side of computer science becomes practical and relevant to business, companies must decide what type of AI role they should Play.
There is little doubt that Internet of Things (IoT) is transforming many industries, from manufacturing to insurance. The IoT evolution will happen in three large stages of development.
While there are many important technological trends impacting the banking industry, none may be more important that artificial intelligence (AI) and the ability to use data, advanced analytics and digital technology to deliver a better customer experience.
Voice is the “new platform” from consumer interaction. Amazon’s Alexa now has about 12,000 skills on its platform. Banks and other FIs increasingly recognize the potential impact of voice tech on customer experience and should consider to use it
Despite having access to more data and better digital tools than ever, bank and credit union marketers are not keeping pace with industry trends and consumer demands. Smaller financial institutions in particular are falling behind in applying modern Technology.
Like companies in many industries, financial institutions are under pressure to chart a new course by reshaping their business models to compete in a world of changing customer expectations. There is a small window of opportunity to respond to this shift within the market and banks are in the throes of making companywide changes to ensure they are continuing to satisfy their customers whilst operating in an economically viable manner.