Several trends will drive developments in retail banking in 2017, including factors as diverse as changes to the regulatory environment, the emergence of artificial intelligence, and the long-awaited entry of new mobile-only providers.
The UK and the EU will be at the forefront of moves to practically apply the principles of open banking in 2017, spurred on by regulatory demands. The focus in 2017 will be primarily behind the scenes: banks will collaborate to establish standards and protocols on security, data protection, and accountability.
While open APIs will facilitate access to the additional data needed to provide high-quality data-led insight, it is through AI that such analysis will be provided. From the consumer perspective, AI will manifest itself through the medium of chatbots.
Fintech will come under increasing scrutiny from global regulators in 2017, with two key objectives in mind: keeping on top of new innovations and encouraging the emergence of new entrants.
GlobalData's "2017: Key Trends in Retail Banking" identifies six key trends that will shape the retail banking market in 2017, to which providers will need to respond and adapt.
The report offers insight into:
The likely impact of competitive, regulatory, and technological developments on the retail banking industry in 2017.
Which providers are making the most headway in responding to, and taking advantage, of these trends.
What actions you need to undertake to exploit these trends and stay ahead of your competitors.
Reasons to Buy
Identify the most important trends that will affect retail banking in 2017.
Assess the impact of competitive, consumer, and technological developments on the retail banking industry.
Learn what actions you need to undertake to exploit these trends and stay ahead of your competitors.
Single User License:
Corporate User License:
BBVA, HSBC, OCBC, Albert, Chip, Cleo, Plum, Capital One, Bank of America, Starling Bank, Monzo, Tandem, Secco, Atom Bank
Open banking, API, PSD2, new entrants, challengers, fintech, regulation, mobile
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