Understanding The Financial Services Industry In 2019

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In today’s rapidly evolving marketplace environment, key business issues are converging with impacts felt across multiple industry sectors. Transformation technologies are more readily accessible, powerful, economical and easily implemented than ever before. Give a person an app that makes their life easier, better or cheaper.  

Today’s generation is tech-savvy with a level of comfort with their devices. They can compare different financial funds and are increasingly choosing automated systems to manage their portfolio. 

Or even offer them an alternative financial and payment solutions, innovations in mobile money and mobile payment methods such as eWallet. Future-proofing the business is about reimagine transformation.  

When it comes to the banking industry it remains a big revenue source for many technology companies. No doubt many banks have embraced digital transformation across the banking and capital markets value chain. 

There’s a new kind of promise in the banking industry and possibly no better time than now for transformation. Economic fundamentals are strong, the regulatory climate is favourable. Lastly, the importance of trust and security, irrespective of the segment, is expected to continue, especially as automation, cloud, and open banking take hold.  

Because the convenience of banking apps has also meant huge mobile technology securities risk. Therefore there’s a need for importance of security best practices and innovation to stay a step ahead of the threat technology curve through ongoing user education. These are just some of the key trends, challenges, and opportunities that affect the financial services business and influence strategy.  

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