HOW FINANCE IS CHANGING, PER THE BEST FUTURE OF FINANCIAL SERVICES SPEAKERS AND FUTURIST CONSULTANTS

Put the question to a future of financial services speaker and you’ll get a sense just how frequently that futurist consultants are asked how emerging technologies could reshape how we manage money soon. It’s clear that innovation aims to provide accessibility for the digital economy.

Future of financial services speakers say a leading shift will be the proliferation of virtual banking and decentralized finance (DeFi) on blockchain networks. When it comes to facilitating transactions, top consultants envision digital currencies allowing instant global peer-to-peer payments at minuscule fees – no middlemen required. From smart contracts to micropayments, programmable money could enable new financial products. However, consumer protections and identity safeguards need to be addressed given the anonymity and security risks inherent to crypto.

At the same time, consulting leaders predict open banking supported through secure application programming interfaces (APIs) will spark competition and collaboration between incumbent players, fintech disruptors and data aggregators. As a future of financial services speaker would argue, it could make financial lives frictionless, while returning control to consumers over their financial data.

Of course algorithms and automation will transform backend processes from credit risk models to fraud detection. Leading consultants suggest that most consumers will welcome AI if it lowers costs, increases speed and provides advice. However interpretability and accountability will be crucial as financial decisions grow increasingly automated.

As virtual and augmented reality achieve lifelike fidelity, you can anticipate both customer experience and employee training getting immersive upgrades. From a consulting expert’s standpoint, advisors suggest that financial literacy programs could benefit greatly from edutainment applications.

All in all, if you follow the signs, the customer journey stands to grow more integrated as home devices, vehicles, appliances and cities grow more connected. And so the majority of future of financial services speakers state that embedded finance – contextual banking and insurance seamlessly where transactions occur – will drive growth. The future of money lies in enhancing people’s lifestyles, not just enabling payments. Success will come to those who can securely embed their services within the user’s ecosystem.