DIGITALISATION
understand their clients and improve their personalised experiences . With data-driven personalisation rapidly increasing in its adoption among customers to view finances , spending habits and saving opportunities in realtime , banks that fail to adopt these trends could face limiting their customer base and stunting their growth .
Other personalisation trends emerging in the industry include smart contracts that eliminate many of the inconveniences associated with traditional contracts . By harnessing computer coding and cryptographic keys as digital signatures , smart contracts increase the speed of fintech transactions , and
provide alternative onboarding methods . In addition to alternative onboarding methods , there has also been a rise in customer demand for alternative financing and installment methods . With many around the world facing financial challenges due to the impact of COVID-19 , organisations such as Klarna , who provide flexible ‘ buy now , pay later ’ models , stand to thrive in the current climate alongside those also offering mortgage , investment and credit advice online .
DIGITALISATION
2020 – the year that ‘ digital transformation ’ took industries by storm . With millions of organisations transitioning their operations to 100 % remote working overnight , COVID-19 has forced many to increase their digitalisation speed . However , with 74 % of organisations
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" 2021 WILL USHER BANKS AND BANKING INTO A NEW ERA OF TRANSFORMED OPERATIONS "
— Elias Ghanem , Global Head of Market Intelligence , Financial Services at Capgemini fintechmagazine . com