MITIGATING THREATS
BANKING
“ BANKS WILL FOCUS ON SUSTAINABLE OPERATIONS , REDUCING THEIR CARBON FOOTPRINT , AND PRODUCT STEWARDSHIP MINIMISING IMPACT OF BANKING PRODUCTS ON THE ENVIRONMENT ”
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— Elias Ghanem , Global Head of Market Intelligence , Financial Services at Capgemini
seeking to maintain the increased levels of home working post-COVID-19 , organisations must ensure they are being
smart and efficient .
Ways in which the fintech industry is driving digitalisation include the use of blockchain and artificial intelligence ( AI ). Such technologies are expected to innovate the entire global finance ecosystem , eliminate centralised processes , enhance cryptocurrency , and allow for faster and move convenient transactions for customers .
With increasing reluctance to touch cash as a result of the pandemic , contactless payments is another area which has seen significant growth since the outbreak – it is predicted to have a value of over US $ 100bn by 2026 . As the amount of customers realising that contactless payments are safe , easy and efficient continues to increase , it is unlikely that this trend will reverse in the future . As a result , traditional and new entrant organisations should look to provide these kinds of services in order to maintain a competitive edge going forward .
MITIGATING THREATS
While trends such as digitalisation and personalisation are certainly positive evolutions for the industry , with all innovation comes challenges and potential threats to mitigate . With this in mind , two considerations that those looking to accelerate their
JANUARY 2021