Banking & Payments Trends

Note from the Publisher:  CCG Catalyst Consulting has released an infographic detailing what they believe to be the 12 “Forces Transforming the Banking & Payments Industry”.  They include the following categories and subcategories. 

Regulation

  • New regulatory regime
  • Increased cost, complexity& uncertainty


Technology

  • Tech advances
  • New possibilities with cloud, robotics, chatbots, IoT, VR


Fintech

  • Rise of Fintech
  • Early stage cos. / incumbentsNational bank charter (OCC)


Blockchain

  • Radical infrastructural overhaul
  • New value management system; broad applications


Faster Payments

  • Impending arrival of real-time
  • Several initiatives underway Fed facilitatingchange


Mobile

  • Phone, “more than a phone”
  • 2B+smart phone users globally -massive reach


Digital

  • The age of the digital business
  • Digitization of money is greatest opportunity


Customer Expectations

  • Accelerating change
  • Speed, convenience, privacy, transparency is new mantra


Cyber Security

  • Critical concern
  • Acute & growingthreat in an interconnected world


Sharing Economy

  • Leveraging the ‘Uber’ template
  • Establishment of new platforms & marketplaces


Data

  • Beyond Big Data
  • Implications for monetization,machine learning, AI


Globalization

  • Highly politicized issue
  • Free trade, open economies, cross-border commerce


Source:  CCG Catalyst Consulting