14 May 2013
5 Ways Consumer Technology Is Changing Financial Services
by Alexei Miller
Following DataArt’s Financial Technology Panel at the Harvard Club of New York, Tabb Forum suggested that Alexei Miller provides a summary of trends for one of the key subjects discussed: the way consumer technology is changing the financial services.
“While they get a lot of hype, mobile and social media aren’t the next big things for the financial services industry. The big focus will be on user experience and pace of system development. The influence of consumer technology has been increasingly evident across industries. Recently, I’ve found myself contemplating the next big hurdle in this area for the financial services industry. We keep hearing the buzzwords “cloud,” “mobile,” “big data,” and “user experience” (UX), but the technology space is fast moving and already leaving those trends in the dust. Can the financial services industry keep up? Or, rather, should it?”
Miller makes five predictions/trends for the future of consumer technology in financial services: User Experience; Mobile, Communication; Social Media & Rising IT Budgets and Pace of Development.