“As new technologies open up data streams to and from third parties and emerging startups, banks will be able to offer their customers a range of new products, services and insights that will not only optimise customer experiences, both online and offline, but will create highly personalised, customised relationships. In financial services, Banking-as-a-Service (BaaS) platforms have emerged as an integral part of open finance, where players provide more value-added services for customers by opening their application programming interfaces (APIs) for third parties to develop new services.”
- “Banking and financial services understand these demands, so it’s no surprise they are increasingly adopting cloud platforms; the global finance cloud market is expected to grow more than 22% annually through 2025.
- To ensure a swift, seamless transition to cloud platforms, we believe banks must overcome five major challenges. They’ll need to reengineer processes and workflows; integrate cloud and legacy systems; adhere to regulatory compliance; and relentlessly test — all with bulletproof security.”
– “Artificial intelligence’s impact on generating code, augmenting design and innovation is all 5- to 10-years away.
– Composable is going to be a key buzzword for applications and networks.
– Industry clouds are just beginning on the hype cycle with a plateau reached in 5- to 10-years. That take is interesting given industry clouds are everywhere from multiple vendors.
– Digital humans are being talked about a good bit, but Gartner reckons the technology is more than 10 years away from productivity gains. Quantum-based machine learning is also more than 10 years out.”
“Secure Access Service Edge is a term coined by Gartner in 2019, defined as the convergence of multiple network and security-as-a-service capabilities, such as software-defined wide-area networks, secure web gateways, CASB, next-generation firewalls and zero-trust network access. SASE is delivered as a service and enables zero-trust access based on the identity of the device or entity, combined with real-time context and security and compliance policies.”
“In a recent survey, 80% of U.S. enterprises said they accelerated their AI adoption over the past two years. A majority consider AI to be important in their digital transformation efforts and intend to set aside between $500,000 to $5 million per year for deployment efforts. Organizations were projected to invest more than $50 billion in AI systems globally in 2020, according to IDC, up from $37.5 billion in 2019. And by 2024, investment is expected to reach $110 billion.”