Banking Industry Trends: 2019 Future Planning

By Gavin | April 04, 2019

Banking industry trends and in 2019, the global economy continued to recover and international trade recovered. We no longer live in a time where we can afford not to think about futures. Technology is increasing at such a rapid pace, people's behavior change is increasing at such a rapid pace so that we need to think further out in order to maintain our competitiveness.

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Financial services industry trends

Banking industry trends and there are no data about the future, what you can do is look at weak signals in the marketplace. You're going to look at megatrends, societal trends, and say, 'I think this is going to be a big method of change.' It goes through, like, culture and governmental, and societal, and then the fastest one is fashion, or I'd argue technology.

Examples of B2C

I like that filtering system to say, 'Is it a slower-moving layer of change, or is it a faster-moving layer of change?' And how does that affect my read on how much it may impact? A small or large population? We're familiar with the term 'B2C', Business-to-Consumer. I think that's flipped right now. I think it's now consumer-to-business.

Emerging trends in the banking sector and here are five emerging trends in 2019 that paint the future of online banking.

  • A Better Digital Experience for Customers

  • Enhancement of Data Analytics and Reporting Capabilities

  • Testing and Implementation of Advanced Technologies

  • Automation of Core Business Processes

  • Recruitment of Newer Talent to Meet Shifting Demands

And you can refer another Five Innovation Trends That Will Define Banking in 2019.

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We all have these, like massive computing, capabilities in our pockets with our phones, maybe we even have two of them. And we expect through the service economy, through all of these kinds of services that are provided to us, that we are the center of our own universe. And a lot of people have been touting, 'Oh, we have an AI bot out there right now. "We have artificial intelligence in a bot. We can help solve these problems.'

Latest trends in banking technology and what they really have is not something that has passed a Turing test, we haven't quite reached true AI yet. I do think that smart algorithm including machine learning because machine learning fits under of the umbrella term of AI. 

They can help better serve people because they can start moving from the reaction. "I'm gonna tell you to do something." "Great, I'm gonna do it."-- towards proactive activity. "Hey, I recognize this pattern in your life. How can I take proactive action on your behalf?" And that's almost like beneficial intelligence.

We're going to start seeing some modular identity provisioning. So if you go into a bar, let's say they don't need to know where you live, they don't need to know what exactly your birth date is, they don't need to know that you're an organ donor, they don't need to know these things that are on your license. They just need to know that you're over 21.

You can start a piece and parceling the information that makes you fit the situation in which you're going. And I think that's going to be an amazing service, and I actually do think that that will come institutions of trust.

Banking industry trends another refer webpage:

2019 Banking Industry Outlook | Deloitte US