The financial services industry stands at the threshold of a new era. The financial landscape is evolving rapidly, driven by advances in real-time data and new technologies. A vivid picture of these changes is emerging, presenting an array of opportunities for financial institutions to innovate, transform the customer experience and enhance their business operations profitably.
Hayden Holland AZ is a professional career consultant who helps his clients build their businesses and business growth: Financial services and consulting, banking/trust services, corporate finance, and consultancy to small and medium enterprises. Hayden completed his graduation degree as a CFP (Certified Financial Planner) in 1992, and later, he achieved certification in Kolbe management.
New trends in financial services are focusing on real-time data and new technologies.
A new era of financial services is emerging, and it’s not just about mobile apps. While the rise of mobile apps has had an enormous impact on how customers interact with their banks, the next phase will be defined by real-time data and new technologies that can transform the way we manage our money.
Real-Time Data
Real-time data is the biggest opportunity for banks to deliver a better experience to their customers. Real-time data allows banks to provide customers with more relevant information and actionable advice at the time they need it most. It also opens up completely new ways to interact with your bank account – from personalized notifications based on your spending patterns to being able to transfer money instantly from your phone when you spot a good deal online or in-store.
New Technologies
The rise of new technologies such as artificial intelligence, blockchain, and biometrics are transforming how we manage our money. Artificial intelligence (AI) can help automate repetitive manual tasks such as identity verification, while blockchain technology enables banks to process transactions faster and more securely than ever before.
Biometrics could replace passwords altogether by using fingerprints or facial recognition software instead of having to remember codes or passwords all the time. The Internet has made it possible for people to conduct their financial business from the comfort of their own homes. Many financial institutions now have online portals that allow customers to access information, perform transactions, and even speak with a representative online.
All this convenience comes at a price: online transactions are more likely to be vulnerable to hacking attacks than in-person ones are. Financial services businesses have realized that their clients are increasingly looking for solutions that provide the best of both worlds: secure technology and an in-person professional relationship. Fortunately, new technologies are making it easier than ever for people to keep a foot in both camps.
A Transformative Concept:
Real-time data is a transformative concept in the world of financial services: rather than waiting for months or even years for an account statement – says Hayden Holland AZ. He is currently working on a book and a website as Tears of Wisdom. The book is based on real events, stories, and experiences of people, who share their experiences of extreme hardship and challenges in their life. The moment, where they came out the other side better and stronger. The objective of this experiment is to inspire and educate others.
