From biometrics to mobile banking, the pace of innovation in financial technology is accelerating faster than ever before. With consumer adoption of digital technology changing the expectations they have of service providers like financial institutions, it’s helping drive rapid change in an industry that’s remained largely the same for hundreds of years.
Speaking in an interview in the Finetics™ Studio by The Bancorp at Money20/20 in Las Vegas, The Bancorp’s CIO, Peter Chiccino, scopes out some of the newest trends in the space and shares his thoughts on where finance is headed.
“We’ve never been in a time where technology has changed so fast,” says Chiccino. “When you think about the past when it was just humans creating technology, things progressed a bit slower. Now it’s technology creating technology so things happen almost at light speed now.
“Millennials and the generation behind them really want an easy-to-use experience, they don’t want to fill out a 20-page form like we used to do, just to create a new account. It’s all about ease and simple use.”
Access Pete Chiccino’s full interview, plus more insights on ‘The Shift from Digital Banking’ from Ryan Caldwell, Founder and CEO, MX; Ben Katz, CEO and Founder, Card.com; Hamed Shahbazi, CEO, TIO Networks, Lars Sandtorv, CEO, MeaWallet on The Bancorp’s Finetics blog.
The Emerging Payments Association discuss the impact of Brexit on the fintech industry at the latest payments industry event.
Jonathan Quin, co-founder and CEO of World First, explores how established financial institutions and newer fintech disruptors stand to benefit from collaborating with one another in the fast-moving financial services sector.
With advancements in technology and the subsequent availability of data, it seems surprising that banks seem to know less about their customers than ever before.