When banks and other financial institutions are advancing their digital transformation journey, banks are also transforming their IT architecture.
A few days ago the classic debate over who is the world's capital of Fintech again hit the Twitterverse as it does periodically. Two of my friends got into it in a jovial manner, but it belies a continued debate that has been going on for the better part of a decade now. Even PM Boris Johnson got into the debate back in 2014-2015 saying London had become a true "world centre of Fintech". London has given birth to some very impressive Fintech's and the Mayor of London's unfailing support (both in the guise of Johnson and Sadiq Khan) has been instrumental in the city's strong Fintech culture. But how might we measure that innovation, that success in order to benchmark the world's #1 Fintech city?
Financial institutions are accelerating digital transformation and adopting "mobile first" and "data-driven" strategies to improve customer experience, efficiency, and risk control, all while reducing costs.
The traditional financial services industry is facing severe challenges. The development of Internet finance and mobile Internet has greatly changed people’s habit of using financial services in the fields of payment, loan, investment, wealth management, customer engagement, and customer services. By incorporating Internet services, FinTech companies provide end users with extensive financial services, enabling disintermediation or turning traditional financial enterprises into channels.
A brief introduction of Huawei FSI's progress and perspective of the future.
The COVID-19 pandemic is shaking up the mobile payments industry like never before. But just how should banks react and respond?
Gone are the days when brick-and-mortar banks were enough. Instead, digital financial services are taking over, going as far as the creation of digital currencies and assets. To stay competitive, traditional financial institutions must adapt and transform. After all, users already expect a more convenient and personalized experience that is entirely secure and reliable.
In the world of business, it was only when the CEO of Microsoft, Satya Nadella, made the decision to buy Activision — the company that made Call of Duty — for US$75 billion that a lot of business people sat up and realized that the metaverse is not just about games. When someone like Nadella is willing to pay that much money for a metaverse-related business, it became clear that this is not just a hype. This is real business.
Users expect more, faster, and better banking services. This goes for everything and credit card services are no exception. Banks that design the best apps for their credit card users and create the optimal user journeys will win against their competition. For this, they'll need technology.
Sustainable and trusted financial infrastructure, intelligent applications and data architecture, and innovation are the key to unlocking the future digital productivity of finance.