A key trend to pay attention to is cybersecurity investment. As the 2020s approaches, many banks are channeling their resources to security infrastructure, especially with rampant cyber-attacks. A recent study by the Cybersecurity Market Reports predicts that one trillion dollars will be allocated to cybersecurity alone between this year and 2021.
Corporate banking is also seen to invest more in client-oriented technologies, as competition for offering the best customer experiences goes up. Digital solutions are being developed in line with the rise of cryptocurrency and blockchain technology. Also, loan expansion strategies will target the middle market more and should lead to significant increases in revenue in the coming years.
As Fintech continues to gain ground, its investment values will rise accordingly. Such numbers are seen to go up to as much as $4.7 billion by the end of 2018. This is coupled with the speedy deployment of automation strategies. The goal of such a move toward robotic processes is increased productivity and overall efficiency internally while delivering optimal customer service.
Scott Tominaga is the Chief Operating Officer of PartnersAdmin, LLC. He has almost two decades of experience in the hedge fund and financial services industry. Read more about the financial services industry here.
