31 January 2020
Issue #190 of the Fintech Analyst Report features insight on financial planning, quantum computing, regtech, API platforms, PSD2 and data driven insight.
The advent of digital and data has led to financial planning becoming more accessible and relevant to a wider range of consumer segments. Wealth managers must rethink their existing approaches.
IDC: Quantum computing and bank infrastructure
It may still seem like moonshot technology, but quantum computing services will play an important role in a bank's infrastructure arsenal going forward.
Despite EU and UK regulators leading correction efforts, regulators are being hampered in their risk oversight duties by poor data quality, leading to over £100m in fines issued for poor reports.
Technical and regulatory challenges are delaying the implementation of the EU’s PSD2 Open Banking mandate. This contrasts with the surge in API driven platforms operating in the cloud.
Increased automation of routine tasks has freed up human workers to focus on more complex tasks. Banks that find the right balance between human and machine will thrive.
Financial organisations are daily consuming and capturing massive amounts of data, yet few finance teams are making use of it to provide business partners with actionable insights.
Financial services firms must seek to resolve the conflict between long-term business transformation and the need to remain disciplined and profitable in the short-term.
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