HKU FinTech – Next Generation Digital Financial Services ( Part 2 )
FINTECH
30 at every level , fuelling rapid transformation . He points to several key innovations that are driving next-generation financial services , including IoT , AI , Blockchain , robotic process automation , advanced analytics and smart contracts . However , it is the convergence of these technologies that will be a key differentiator of new financial business models . The leaders using these , says Genovese , aren ’ t doing so in isolation , but rather they are finding intelligent ways of combining them to deliver a next-generation financial services model faster , cheaper and more in line with consumer expectations and experiences .
“ In the past , institutions have made the mistake of not combining those technologies , but investing in them in stovepipes ,” he explains . “ Three that come to mind are AI , IoT and blockchain , which you can ’ t really evolve on a singular basis . So , for AI you have to have both structured and unstructured data and a strong understanding of customer analytics , which these new business models in the market have , and more effectively leverage and use in a far greater capacity than
HKU FinTech – Next Generation Digital Financial Services ( Part 2 )
CLICK TO WATCH | 7:02
MAY 2020