5 Tech Trends Shaping the Future of Financial Services
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The pandemic has drastically changed the ways banks, insurance providers, and wealth management firms engage with customers and employees.
Customer-centricity, hyper-personalisation, and hybrid work — these are some of the advancements that have come to the fore in financial services. One particular technological advancement is set to disrupt the industry as we know it: Web 3.0.
In simple terms, Web 3.0 is a more decentralised internet, where systems, processes, and data are open-source and less bound by intermediaries. Web 3.0 has the potential to be revolutionary, as it will create efficiencies not imagined before, while making it easier to collaborate and interpret data.
As Web 3.0 is an evolving concept, there is still uncertainty about what it fully means for financial services. However, there’s no denying that as time goes on, the digital experience will only become more connected, open, and transparent. Keeping the customer’s needs at the heart of everything banks, insurers, and wealth managers do will become more critical than ever.
LIKE.TG joined some of the brightest minds in financial services at the recent Singapore FinTech Festival to discuss the future of the industry. Here are five key trends that came up, and what they mean for creating greater customer experiences.
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