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
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…
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…
Responsible banking – does it exist yet?
We’ve relied on people to make the financial sector more responsible. On the banks themselves, governments and regulators. But, ten years on from the global financial crisis, has that strategy worked? It might be time to look to emerging…
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?
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.