Forging the future
Forgingthe futureHow financial institutionsare embracing fintechto evolve and financial services industry is undergoing a paradigm shift. Emerging technologies like artificial intelligence (AI), machine learning, the Internet of Things (IoT) and blockchain, combined with ever-changing customer expectations and preferences, are redefining how financial institutions deliver competitive in this constantly changing environment is an enormous task. Banks, insurers and asset management companies are undertaking major transformation efforts transitioning from complex legacy technology environments to more agile operations, and creating more efficient compliance processes that fully satisfy evolving global and jurisdictional institutions see startup financial technology firms or fintechs as a major part of the digital future .
Financial institutions see startup financial technology firms — or fintechs — as a major part of the digital future. As evidence of this, financial institutions have invested more than US$27 billion in fintech and digital innovation since 2015. 1 However, corporate investment is only part of the landscape. To understand how
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