Summary of The Marriage of High Tech and High Finance

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The year 2017 brought a consequential shift in fintech investing, with a retreat in private funding for technology company start-ups and the advance of financial services giants pouring billions of dollars into innovations that will affect customer interactions. According to this solid roundup from the Economist Intelligence Unit, transformative improvements are possible in four broad technology areas. getAbstract recommends this accessible overview of future fintech directions to executives in banking, insurance and other financial services industries.

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The Economist Intelligence Unit is an independent research and analysis organization.

 

Summary

Executives of established banks understand that customers’ financial needs to save, borrow and pay for purchases remain unchanged. And with the prospect of competition from nontraditional intermediaries like Apple, Facebook and Google, the financial industry has come to embrace the fact that the ways to satisfy those client needs are undergoing rapid reinvention. To provide superior customer experiences, banks are investing in four major areas of fintech: 

  1. “Biometrics” – Biometric identification, which uses an individual’s unique physical attributes such as voice or fingerprints...

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    A. A. 2 years ago
    It appears that most innovations take a sequential approach to development - building upon or segueing from previous innovations leading to 'long tail' innovations with diminishing values/ returns.

    The current financial systems of capital investments/ depreciation etc. seem to prevent us from taking a step back from what has been built and rebuild/ innovate in a completely new direction for even better benefits?