Disruptions in Banking and Financing on the horizon, brace for impact
Major disruptions in Banking and Financing on the horizon; thanks to new technologies from Big Data Analytics to Mobile Apps that are reshaping this sector at a fast pace, resulting in new ways for companies and customers & consumers to interact, to manage their money and to conduct transactions.
Global investment in Fintech ventures hit $5.7 billion in the first quarter of 2016, and about half the funding went to projects in Asia, primarily in China. “The reason funding is taking off now is that the four platforms – Mobility, Big Data (IoT) and Analytics, Blockchain Technology (Bitcoin) and Machine Learning (AI) – are in their infancy,” said Catherine Wood, CEO of ARK Investment Management (US) at the Annual Meeting of the New Champions in 2016.
The fact is that Banking and Financial Services is one of the largest industries that is still not fully digitalized. In this field of activities, the technological revolution has just begun.
So let’s see what we’re up to and what major disruptions we may foresee.