How will the next waves of digital possibilities affect people?
This is a key question facing Financial Services providers that are already undergoing profound transformation. Technological advances may offer up the ‘art of the possible’. But they still have to be balanced with the ‘art of the permissible’ – fairness, trust, and an understanding of the impact on individuals and society. Here, we interpret the underlying issues and set out our vision for overcoming today’s Digital Dilemmas:
- Digital meets physical
- Business models and society
- Human-centric AI
Crying Wolfie - A digital companion for the elderly
“Join the Wolfie pack – because we look after our own!” That was my final cheer leading cry as part of a 3-minute pitch to the investment board at Aegon Transamerica after a 24-hour hackathon…
The art of interpretation: Regtech and intrinsic complexity
In our recent thought leadership paper, Journey 2022, we discuss the questions being raised by consumers and society regarding certain technologies and how these may lead to, what we describe as, Digital Dilemmas. Let’s explore in this blog…
As winter approached, I took to the web, to find the ideal skiing vacation. As I went to book a great deal I’d found in Austria, I was offered additional protection against poor snow conditions. The user experience and the price were so great that I decided…
Voice Banking: finding the right balance between security and convenience
Banks are trying to adapt to rapidly changing behaviors by integrating their services seamlessly into their customers’ daily lives, thus moving from product-oriented to customer-centric strategies. They must then leverage new and existing technologies to…
Smart Voice Assistants in Retail Banking. Lessons from deploying a Retail Banking Voice App
In our recent thought leadership paper, Journey 2022, we discuss the questions being raised by consumers and society regarding certain technologies and how these may lead to, what we…
Digital meets physical
Our digital and physical lives are becoming increasingly interconnected. Thanks to digital twins, hyper-personalization, and robotics, this blurring of the boundaries is set to continue. Yet it raises clear issues around security, regulation, and constant change. So how can banks and insurers respond and provide trusted systems and services that meet evolving personal and societal demands?
Quantum computing in Financial Services, worry or be happy?
In December 2014, the Commonwealth Bank of Australia (CBA) became one of the first commercial organizations, to invest significantly in Quantum Computing. This was long before the large American companies Microsoft, Intel, IBM, and Google, made…
Digital meets Physical: Insights as to what insurers need to consider to leverage IoT
The potential of IoT IoT has all the right characteristics to transform insurance thoroughly. It offers data, real-time, with little room for fraud in claims and limited hassle: all…
Prescriptive Security: vital for handling the increased security complexity at financial institutions in the digital age
The pressure on banks and insurance companies is increasing once again. Digital is opening up new opportunities for cybercriminals and cyberattacks are growing in scale, complexity…
Why trusted digital identity is the new gold standard for financial services
Posted on: March 19, 2019 by Olaf Badstuebner In our clamor to embrace a fully digital economy some things have been left to take a backseat. For all the headlines about new apps and…
Business models and society
The vast potential of data. Continual organizational transformation. Changes in the underlying economic foundations. Such forces will determine the success or failure of many established banks and insurers in the years to come. So what is the right business model for you? What will the future of work look like for your employees? How will you embrace the new demand for Corporate Digital Responsibility?
Artificial intelligence (AI) is not a future technology in Financial Services. It is already here. Chatbots, digital assistants, and voice banking are active. They are helping banks and insurers stay relevant for customers, simplify operations, and tackle competition from digital natives. But what if they are too invasive? Or the technology does not live up to the promise? Or regulation creates too many barriers? There is a wide range of ethical and human considerations when it comes to AI.