It took ten years for customers to shift from branches to digital channels. Industry estimates suggest, it will take half as much time, for fifty percent of banking transactions to move from bank-owned channels to third-party channels – thanks to open banking, which is a key trend reshaping the banking industry.
Combining this big industry shift with eleven other key trends, one can be fully certain that our industry will reset itself forever! This research report deliberates on the 12 trends that are set to re-shape banking in 2019 and beyond.
12 Major Banking Trends That Will Shape Banking in 2019
- The transition towards platform business model accelerates
- Banks embrace new partnerships for bringing new value to customers
- Reimagining Customer Journeys
- Elevating customer experience and engagement
- Open Banking – New windows of opportunities
- From competition to co-opetition
- Cyber-Defense vs. Hacker Intelligence
- The nail-biting race intensifies
- Optimizing digital-human interplay
- The talent and culture ecosystem evolves in 2019
- Data Privacy and Ethics – New responsibilities in the new year
- Challenges abound in the open data banking system
- Accelerating architectural evolution
- Achieving new levels of agility, scalability and resilience
- AI in the bank – Expanding scale and capabilities in 2019
- What are the new ways AI will impact and influence banking?
- Blockchain – Adoption, scale and scope expands
- New use cases and technology evolution
- Enhancing business value – A steady advance towards public cloud
- Public cloud is steadily gaining acceptance. What will 2019 hold?
- Accelerating connected commerce – Banking on things
- Progressive banks lead the way towards truly intelligent banking
- Increasing interactive dimensions
- Mixed Reality starts becoming a reality for banks in 2019
