- May 27, 2019
- Posted by: vmayo
- Category: Financial Services
Digital Marketing Trends to Financial Services in 2019. The rapidly growing technologies, developing customers’ expectations and opening a door to disruptive innovation in a changing regulatory scenario financial services. From crypto-currencies to big data to peer-to-peer lending, Fintech innovations have captured the attention and imagination of customers, investors, and incumbents. However, the nature of these innovations on the financial services industry is not clear.
This results of a series of multi-stakeholder dialogues that explored the potential for these innovations to transform the financial ecosystem as well as the risks and opportunities. Also, In the future, future emerging from changes in structured, distributed and ways to consumer financial services.
Technologies and Marketing Trends that will Interrupt in Financial Services
1. Hybrid Cloud:
Cloud computing has quickly become mainstream in banking. almost banks searching for the optimal mix of traditional IT, public and private clouds. Certainly, more and more banks are moving forward for enterprise-based hybrid cloud strategy. So, “With Hybrid Cloud, banks have the flexibility and benefits of both private and public cloud, addressing data protection, administration, and compliance,” Stated IBM.
The benefits of a hybrid cloud include reduced costs, improved operational efficiency, and enhanced innovation.
2. Advance Robotic Process:
Robotic process automation in banking also simplifies compliance by keeping detailed logs of automated processes, automatically generating the reports an auditor needs to see and eliminating human error. Therefore, Since it’s intuitive and easy to re-configure software robots at any time, tweaking processes to fit new or updated regulations is never difficult.
Banks and financial institutions are rapidly adopting a new generation of Artificial Intelligence-enabled technology (AI) to automate financial tasks usually carried out by humans, like operations, wealth management, algorithmic trading and risk management.
Goodbye, human fund managers.
3. Artificial intelligence:
AI has occurred because of both capabilities and business needs. However, The benefits of AI in banks and credit unions are widespread, reaching back office operations, compliance, customer experience, product delivery, risk management, and marketing to name a few. Because, For those firms not adopting AI, challenges such as fear of failure, processor department data sets, and regulatory compliance are cited. Also “Customer intelligence” will be the most important predictor of revenue growth and profitability.
4. Cyber Security:
Hence, The nature and incidence of cyber risk are unique and change without notice. So, Meaning that typical approaches to risk management may not be appropriate. Therefore, The potential sources of cyber threats and the attack footprint are impossible to eliminate, requiring organizations to be nimble in their approach to cybersecurity.
Unfortunately, it is not likely to change for the better in the coming years, due to the following forces:
- Use of third-party vendors
- Cross-border data exchanges
- Cross-border information security threats
- Increased use of mobile technologies by customers
- The rapid growth of the Internet of Things evolving, sophisticated, and complex technologies
5. Block Chain & Data Scraping:
A form of distributed ledger or database that stores a permanent & tamperproof record of transaction data. while Unlike traditional databases, block-chain does not have a central point of data storage. Also, This involves searching and retrieving information (scraping) from social networking sites such as Twitter and Facebook, but also web pages, forums, blogs, RSS feeds, online newspapers and product/service reviews or feedback.
6. Sentiment analysis:
The process of computing and classifying the ideas expressed in a piece of text. Also, It is used to determine whether the writer’s attitude towards a particular topic or product is positive, negative or neutral.
7. Fraud detection smart machine:
Hence, Techniques & Marketing Trends used to identify suspicious patterns in credit card transactions, identity theft, insurance claims, money laundering or insider dealing. However, The impact of smart machines will have on financial institutions during the next few years is beginning to take shape.
Companies that rule the world
- World ranking: 1
Barclays is a global banking and financial services company headquartered in London, United Kingdom.
World ranking: 2
The Capital Group Companies is one of the world’s largest investment management organizations. Assets of around $1 trillion under management. The firm was founded in 1931 by Jonathan Bell Lovelace.
World ranking: 3
Fidelity Investments is a US multinational financial services corporation, which is one of the largest mutual fund and financial services groups in the world.
World ranking: 4
AXA is a French global insurance group whose headquarters is in the eighth acre of Paris. so, It is a conglomerate of independently run businesses, operated according to the laws and regulations of many different countries.
World ranking: 5
State Street Corporation is a US-based financial services holding company. It was founded in 1792, and its headquarters are located in Forest Lincoln Street, Boston’s Financial District.
The development of Marketing Trends in financial technologies opens new opportunities for the banking sector. Therefore, They make the service more accessible and convenient for customers. So, At the same time, innovations bear certain risks. Almost, In this rapidly changing environment, Financial Institute will have to adopt a future technology.