Over the past 12 months, the banking industry has seen more transformation than at any time in its history. While many of these changes were predicted by our crowdsourced panel of more than 90 industry influencers a year ago, few, if any, anticipated either the Brexit or the US election outcomes. Both events will have a yet unknown impact on the financial services industry, as regulations continue to evolve.
The influx of new fintech players, introduction of new technologies, and debate around authentication, security and cybercrime will challenge governments globally.
As we look to the year ahead, data, advanced analytics, personalization and improving the customer experience are at the forefront of many experts’ predictions. In fact, the impact of improved use of customer insight is the foundation of most of the trends in 2017.