Technologist Lee Bressler delves into financial services trends set to grow significantly in the coming year.
NEW YORK , NEW YORK, USA, November 13, 2018 /EINPresswire.com/ — From 'digital-only' solutions and digital transformation to the widespread adoption of artificial intelligence and blockchain technology, Lee Bressler, an investor and technologist, explores a number of key financial services technology trends set to continue making waves in the coming twelve months.
Bressler first points toward continued massive investment into so-called digital transformation. "Globally," he suggests, "financial institutions are set to keep on investing—aggressively in many cases—in projects surrounding digital transformation, as customers become more and more demanding, and tech-savvy."
Similarly, Bressler also suggests that the charge surrounding digital-only banks will continue to build. Online and digital-only players, he says, will pose a real threat to traditional credit unions and banks in years to come, again appealing specifically to digitally-savvy consumers.
An area of particular interest for the equity fund portfolio manager, Bressler is firmly of the belief that artificial intelligence and blockchain technology will continue to be real disruptors within the financial services market.
"From the cognitive use of artificial intelligence in almost every aspect of the financial services industry and the huge growth facilitated by machine learning, particularly in predictive analytics, to centralized blockchain-powered financial technology platforms, advances in these areas have the potential to transform the ways in which we all do business," he reveals.
Another trend, bolstered by increasingly complex regulatory environments, Bressler also believes that financial institutions will begin to turn more toward artificial intelligence specifically in order to gain meaning from ever-increasing volumes of regulatory data. "A tech-first approach," he adds, "will essentially become a necessity thanks to newer and more rigorous regulations, such as Consolidated Audit Trail, or CAT, compliance."
This is also tied closely to the explosion of cloud-based technology, particularly in banking, according to Bressler. "Cloud computing is a massive trend in itself, but will rely heavily on security, regulation, and compliance, much of which is likely to be facilitated by increased application of artificial intelligence," he adds.
Lastly, Bressler points toward the continued growth of so-called 'big data.'
Financial institutions, he says, are still by and large reliant on outdated data architecture solutions and infrastructure. "Big data initiatives will continue to push ever more sophisticated business models, reliant on breakout technologies to provide better data tools and visualizations," continues Bressler, pointing back to the trend surrounding artificial intelligence, machine learning, and blockchain.
"Both driven by and directly facilitating efforts surrounding data standardization," he adds, wrapping up, "advances within—and the growth of—big data will also see the financial services industry better able to extract value from data through new approaches to virtualization, visualization, and data lineage."
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Source: EIN Presswire