There has never been a more exciting time in the banking industry. As technology’s onward rush continues nonstop it provides institutions with opportunities that expand well beyond traditional financial services. More than expanding the services offered, financial institutions will be able to process data and engage with consumers faster than ever, as the rollout of 5G networks becomes a reality.
These superfast networks will provide the opportunity to instantaneously and intelligently meet any consumer need, at any time, on any channel. Achieving this will require new computing and storage strategies, advanced analytics, enhanced cybersecurity capabilities and a brand new perspective on how banking services can be delivered.
What are the technologies which hold the greatest 4th industrial revolution potential? Nothing is for certain, but the technological trends below certainly should be watched closely. These are in no particular order, since each organization will be different as to the prioritization and investment allocation. That said, the opportunities are greater than ever … but so is the risk of inaction.
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