Every day, we sit at our computers and read the constant flow of headlines that cross the wires. In our meetings, we hear about our competitors, from what they are working on to how they are getting it done.
It is these stories that drive organizations to innovate and perform better. It is these conversations that create change, build great customer experiences, and forge lasting relationships.
In this collection, we look at key trends in the financial services industry and offer specific insights into:
- Market Forces
- Digital Experience
- Business Optimization
- Emerging Technologies
Below are a few key trends in the financial services industry:
- By 2030, financial services organizations could reduce their costs by 22% with AI. Forbes
- After years of lagging behind other domains, cloud adoption is hot in all areas of financial applications. CFOs and IT leaders need to understand how to capitalize on the opportunities of transitioning finance systems and processes to the cloud without being inhibited by the challenges. Host Analytics
- According to Forrester, “In a market where one-third of all customers say ‘all banks are basically the same,’ it would make sense for executives and their teams to obsess over how to differentiate.” The Financial Brand
- “70% of millennials would rather visit the dentist than their bank branch. To build trust, you have to have products and experiences which are on the side of the consumer.” – Harit Talwar, Head of Marcus by Goldman Sachs. LinkedIn
- 72% of Americans today do most of their banking via online or mobile platforms says The American Bankers Association. Time
- 91% of mobile banking users prefer using their app over going to a physical branch. Citi
It’s hoped that the trends and statistics presented will inspire and motivate you on your quest to become or remain an industry leader.
You can download the financial services trends guide below.