This is a roundup of industry news and links for the week of December 3rd that have informed, entertained, and inspired us.
Here’s our weekly roundup of industry news:
How technology and AI are set to transform compliance – Up until recently, compliance has mainly relied on people. And as a result of the significant increase in regulatory reporting requirements for financial institutions over the last decade, demand for compliance professionals has surged. Companies have had no choice but to hire more and more compliance staff, in an effort to tackle the growing regulatory burden.
The Future and Voice Activated Banking – The future of banking is about engaging with consumers in the way that they expect. Voice-activated banking will be a big part of that, as consumers use voice assistants at home, at work, in cars and on mobile devices. Conversational banking has arrived, going by names such as Erica, Alexa, and Luvo.
PLATFORMIFICATION: TAKING YOUR BANK TO THE NEXT LEVEL – Platformification has been the ‘biggest banking trend’ a few years running. A concept built on the platform models that have been central to so much digital transformation across an array of industries.
5 innovation trends that will define banking in 2019 – The global banking sector is becoming both more strategically focused and technologically advanced to respond to consumer expectations while trying to defend market share against an increasing array of competitors. A great deal of emphasis is being placed on digitizing core business processes and reassessing organizational structures and internal talent to be better prepared for the future of banking. This transformation illustrates the increasing desire to become a ‘digital bank’.