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Commerce of Fintech and the Fast Disrupting Trends

 

source: KPMG

 

 

 

Robo-investors will soon invade Centralized Fintech platform for wealth managers.

 

Report from Synechron states blockchain and artificial intelligence (AI) will continue to disrupt the financial services industry. AI development will focus on cognitive use in the sales, marketing, investments, wealth management and compliance sectors of the financial services industry. This is a critical step in moving from advanced robotic technologies like machine learning and predictive analytics to real growth in cognitive computing.

 

Traditional Financial Institutions at the Brink of Extinction

According to Capgemini’s Top 10 Technology Trends in Retail Banking, this new breed of banking providers has defied the conventional model with highly innovative products and services with mass appeal to today’s digitally-savvy consumer. These challenger banks will fuel increased competition in the industry, forcing traditional financial institutions to improve their digital offerings and extend their reach to fend off these disruptors.

 

Emergence of Alternative Lenders with Alternative Data

"2008 financial crisis left banks and credit unions at a disadvantage with credit challenged consumers. This, combined with the emergence of online lending technology and streamlined lending processes — made room for alternative lenders to thrive in this environment." According to Capgemini’s report, “these non-traditional lenders use technology-based algorithms and software integrations to assess credit profiles of customers and are also leveraging alternative data such as social media photos and check-ins, GPS data, e-commerce and online purchases, mobile data, and bill payments.”

 

 

Design Deliberation and Creative Engineering

 

According to Synechron  “design thinking” and creative engineering needs to formulate the UX vision to reality. Banking providers will focus on a few key use cases and technologies where customer-first design is key, like account opening and augmented reality. Augmented Reality (AR) and Virtual Reality (VR) will benefit from developments in immersive UX design aimed at improving the customer experience. The account on boarding process will see a boost from UX design technologies in the form of a more interactive and gamified experience with natural language processing and machine learning.

More on Digital Experiences in Banking

 

 

Fintech Forums and Conferences

 

AI & Emerging Tech for Finance — AI & Emerging Technology for Financial Services will bring together senior executives from investment houses, funds, wealth managers and banks to discuss the most strategic way forward to best embrace the new status quo. This event will incorporate a range of keynote presentations, panel discussions, as well as small group conversations centered around what you and your peers need to consider now.

SRI Conference and Community — SRI Conference offers participants the chance to learn from the experts, gain insight on policy and future trends, and opportunities to network with 1,200+ like-minded organizations, and leaders at the forefront of investing for social, economic, and environmental progress.

The Financial Brand Forum— A must attend for anyone in the retail banking industry. This event is designed to help financial institutions tackle the most critical challenges they face today.

Customer Experience for Financial Services (CXFS)— Discussions about CX strategy for the end to end customer journey in financial services including retail and commercial banks, credit unions, credit card companies, insurance companies, P2P Lending and wealth management. If you want to develop a cutting-edge CX strategy or benefit from disruptive content and focused peer-to-peer networking, CXFS is an event for you.

AI in Finance — Advances in AI & machine learning tools and techniques from the world's leading innovators across industry, research and the financial sector.

Money 20/20 USA — This is the anchor event on the industry calendar where 2,300+ C-Level Executives, 500+ renowned speakers and thousands of disruptors from 88 countries unite to drive change in the future of money. It’s a truly unique experience that facilitates the right conversations, enabling individuals and organizations of all sizes to achieve their goals and grow.

 

AI World Conference & Expo — AI World Conference and Expo is the industry’s largest independent AI business event and is focused on the state of the practice of artificial intelligence in the enterprise. This year’s event brought together thousands of attendees from 35 countries and nearly 1,000 organizations of which 37% were Global 2000 and 48% with revenues exceeding $100M. More than 65% of the attendees were decision-makers, 42% at the Executive or Director level, and 22% were Scientists or Technologists.

The US Fintech Symposium — Intersection of Finance and Advanced Technology — unique forum to discover, discuss and document the latest Fintech developments and best practices.

 

Intelligent Automation Week — IA Week brings the scope of cognitive technology knowledge, trends, and insights from the industry’s top professionals.

 

 

 

 

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