10 ways technology will change banking in 2019
To stay competitive, banks are investing millions of dollars into technology to digitize nearly every aspect of their businesses. But can they keep up with constant change coming from all directions?
Customer demand for more high-tech services, and for connectivity between popular financial management apps and their primary bank accounts, may finally force banks to set aside their security and competitive fears and strike data-sharing deals with fintechs in 2019.
Meanwhile, artificial intelligence and automation's impacts will continue to be felt at many companies, though regulators will have a say in the pace of adoption.
Fintechs, which have been encouraged by regulators as a means of spurring innovation, may have to brace for a consumer-protection backlash in response to mistakes they have made.
The customer profile is changing, too. There are some painful lessons ahead, for sure, in how the youngest customers — Generation Z — differ even from the still sometimes perplexing millennials.
Here's a summary of those and other banking technology trends to watch in 2019.