Just for starters, aside from darn good tech talent, the new era of financial services will be enabled by data analytics and everything that that encompasses (behavioural analytics, machine learning, mass storage, data driven marketing), also cloud computing (both from a storage and security perspective) & broader business model innovation, and exploring where the chinks in the value chain exist; and exploiting opportunities in customer relationship management processes and platforms.
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Tuesday, 19 May 2015
FinTech: Manage your money with IT
A contraction of the words ‘Financial’ and ‘Technology’, FinTech has become a ubiquitous term for any technology applied to financial services, typically where a technology is sold into the financial services sector working for the back office functions of these customers. But recently the term has started to be used for broader applications of technology in the space to front end consumer products, to new entrants competing with existing player. Taken at its broadest, FinTech is shorthand for ‘innovation in financial services’, whether that means new products from new start-ups, or the adoption of new approaches by existing players where technology is the key enabler.
New technologies could be applied to just about anything in the financial services arena, but to name just a few: payments and transactions; mobile banking; trading; commodities markets; peer to peer lending & crowd funding; retail banking; risk & compliance; security & privacy; digital & alternative currencies; digital wallets; financial advisory services; insurance.
Just for starters, aside from darn good tech talent, the new era of financial services will be enabled by data analytics and everything that that encompasses (behavioural analytics, machine learning, mass storage, data driven marketing), also cloud computing (both from a storage and security perspective) & broader business model innovation, and exploring where the chinks in the value chain exist; and exploiting opportunities in customer relationship management processes and platforms.
Just for starters, aside from darn good tech talent, the new era of financial services will be enabled by data analytics and everything that that encompasses (behavioural analytics, machine learning, mass storage, data driven marketing), also cloud computing (both from a storage and security perspective) & broader business model innovation, and exploring where the chinks in the value chain exist; and exploiting opportunities in customer relationship management processes and platforms.
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