Top Technological Investment Areas of Financial Institutions

Top Technological Investment Areas of Financial Institutions

Proof Point

Data analytics and mobile top planned technology investment areas of financial institutions, followed by AI, cybersecurity and process automation

Top Technological Investment Areas of Financial Institutions

2017 (percentage)

Note: Data from PwC’s 2017 Global Fintech Survey of 1,308 participants involved in strategy and innovation from 71 countries across six regions

Proof Point Findings

  • FinTech – Use of digital technologies and innovation to support, enable or provide alternatives to traditional banking and financial services, such as mobile wallet, contactless NFC technology, and cryptocurrency
  • Relevant Technologies ­– Data analytics (74%) and mobile (51%) top list of relevant technologies financial institutions plan to invest in by end of 2017
  • Emerging Technologies – Incumbents also focusing on new technologies, such as artificial intelligence (34%), biometrics and identity management (21%), and blockchain (20%)
  • Key Growth Drivers – Include growing adoption of digital banking technologies, intensifying competitive environment, evolving consumer needs and demands, and rising consumer preference for faster, easier, and more convenient digital transactions

Accelerator

Market Disruption

Sector

Financial Services

Source

Date Last Updated

August 21, 2017

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