15 February 2017
Predictions for 2017
By Cliff Moyce
Financial IT features Cliff Moyce, Global Head of the Finance Practice at DataArt, in the overview of 2017 tech trends predictions by finance industry experts. Moyce emphasizes cyber security, continuing digitization, Artificial Intelligence and Cloud computing as factors most critical to financial organizations’ competitiveness.
“Cyber security and data protection will become major board-level concerns as financial institutions realize that failing to protect customer information will be their biggest source of regulatory non-compliance and reputational risk.
Rapid digitalization of customer-facing services will be a matter of organizational life and death as e-commerce and fintech elevate expectations for the optimal user experience (UX).
Artificial Intelligence (AI) and automated business process management (BPM), including machine learning (ML) supported systems, will provide a competitive advantage as well as productivity improvements.
Cloud Computing will continue to evolve into a mission-critical element in the operational infrastructures of financial institutions, becoming the best route to resolving legacy system headaches and reducing operational risk to the lowest possible levels.”