Financial Services Technology 2020 & Beyond: Embracing disruption is a comprehensive insight into PwC’s view of the future of technology and disruption in the financial services industry.
The financial services industry has seen drastic technology-led changes over the past few years. Many executives look to their IT departments to improve efficiency and facilitate game-changing innovation – while somehow also lowering costs and continuing to support legacy systems. Meanwhile, FinTech start-ups are encroaching upon established markets, leading with customer-friendly solutions developed from the ground up and unencumbered by legacy systems.
Customers have had their expectations set by other industries; they are now demanding better services, seamless experiences regardless of channel, and more value for their money. Regulators demand more from the industry too, and have started to adopt new technologies that will revolutionise their ability to collect and analyse information. And the pace of change shows no signs of slowing.
It is clear that technology is affecting financial services in a multitude of ways. This report discusses ten competitive technology-driven influencers for 2020 including FinTech, Blockchain, Cybersecurity, robotics, AI and cloud computing followed by six priorities for success for 2020 and beyond.