10 key industry trends around technological innovation that are reshaping the banking experience
10 key trends around technological innovation that are reshaping the banking experience
Nonetheless, we believe the future is open with opportunities, particularly in 10 key trends we are seeing in technological innovation and new business models, such as digital banking, open banking, apps, predictive banking, customer experience and personalization, platforms, data analytics, regtech, security and intelligent authentication.
Our monthly article series, aims to arm banks with practical insights as they seek to leverage those trends for sustainable competitive advantage and growth in the long run.
The first article, Does banking’s future now outweigh its past?, sets the scene by looking at the pros and cons of updating legacy systems vs. taking bolder actions that lead to transformational change. The second article Open banking opens opportunities for greater value looks at how banks can leverage open banking to drive strategic benefits rather than viewing it as just another compliance exercise.
In the third article of our 10-part series on Reshaping the banking experience, Andrew Huang, Partner with KPMG in China and Mitch Siegel, KPMG in US’ Financial Services Strategy and Transformation Leader, look at the 4 steps banks around the world should be considering to deliver value in a future world of mobile financial services and super apps.
In the fourth article, Bia Bedri, KPMG’s Global Head of Financial Services Cyber Security and Charles Jacco, KPMG in the US’ Information Protection and Cybersecurity Financial Services Lead, outline the 5 key elements for banks to developing smarter, stronger and more customer-friendly intelligent authentication.
Leading banks and fintechs have been experimenting with automation tied to predictive analytics to help their employees become more strategic, and to offer their customers a better experience. Such trends suggests that interactions and processes will increasingly be based on what the customer is likely to want in the future.
In the sixth article of our 10-part series on Reshaping the banking experience, KPMG in the US’ Chris Hadorn, Natalie Fedyuk and KPMG in the UK’s David Hicks, looks at how bank and payment executives could ensure their drive towards innovation are focused on both improving the customer experience, while maintaining solid security.
For the seventh article, KPMG in Spain’s Eva Garcia San Luis, and KPMG in the UK’s David Conway, look at the various inhibiting factors and what it takes for banks to embed themselves into their customers’ lives and create truly personal relationships.
Download articles here:
Does banking's future outweigh its past? Download PDF (401.6 KB)
Open banking opens opportunities for greater value Download PDF (368.7 KB)
Super app or super disruption? Download PDF (480.8 KB)
A smarter way to authenticate customers Download PDF (177.8 KB)
Automating the prediction Download PDF (82.7 KB)
Securing payments innovation Download PDF (265.8 KB)
Getting personal Download PDF (262.5 KB)