This is a complimentary chapter from Digital Bank: Strategies to Launch or Become a Digital Bank, a new book from Chris Skinner, one of Europe’s foremost authorities on banking.
There are a range of trends impacting payments and transaction servicing culminating in radical changes to the whole way we think about banking and money. In part, these changes are being forced on the industry through regulatory agendas of politicians but, in larger part, these changes are being required by customers and corporates as technology changes relationships with their financial providers. This paper looks at the outcome of such changes and finds that financial institutions will be radically restructured around data assets within the next decade to cater for these new world needs. During the past five years, almost every conference on banking and payments talks about mobile and tablet computing. This is because everyone thinks mobile is the hot space today, which it is, but it won’t be in the near future. Very rapidly, the device focused dialogue will move on to the Internet of Things as everything gets Intel inside.
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