The year 2022 was a year of many causes and consequences generated by problems, situations, or trends that had been dragging on for some time, the world of technology in its progress, development, and growth has always given us something to talk about in its own way. iterative growth. In this way, Monica Sasso, Chief Technologist at Red Hat, has identified and shared with Cointelegraph en Español key trends or aspects within the financial sector that are likely to become more relevant and it is time to focus on them in the face of 2023.
First of all, Sasso highlighted that the macroeconomic environmenttogether with everything that makes it up: lto high inflation, rising interest rates, market volatility and exchange rate fluctuations, as well as the general geopolitical environment, point to a trend towards savings by organizations (driven by 12-month ROI), as you’re getting the most out of the hardware you already have. For her, many already look to the hybrid cloud for a bridge between old and new technologies, through an integration and orchestration layer that allows consistency and security of scalable and mobile applications in multiple public clouds and other environments.
Second, it is found the client as a key point in the sector, since they need personalization, information and help even from their bank to save money. “Maybe brick-and-mortar branches are experiencing something of a renaissance, partly due to regulatory pressures in some jurisdictions, and mostly because cash tends to be more prevalent when people need to budget.”he explained.
“In addition to offering customers the structure they are used to, this gives banks the opportunity to modernize and innovate their branches. In the Europe, Middle East and Africa (EMEA) region, there is still talk about the need to facilitate access to cash,” added Sasso.
Refering to technological innovation, the third key aspect within the sector, there are already several emerging trends that should be watched closely. An example of this, the central banks are looking towards the digital currencies (CBDCs) because it’s changing the way people choose to pay for things.
Saso also spoke about: Artificial Intelligence and Machine Learning (AI/ML) to obtain information that allows them to personalize and create individual marketing, known in English as ‘segment of one’. open financeincluding open insurance, are increasingly viewed from a regulatory standpoint, taking into account competition and consumer choice. BaaS, or banking as a serviceis something that many large banks are seriously working on, with a view to creating a white label of their banking services for digital markets.
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Secondly, blockchain technology And getting legacy technology to work in harmony with cloud-native applications is increasingly important as customers (and employees) demand more and better technology.
In this way, cloud regulationbecomes another key issue for 2023, as regulators around the world increasingly seek to understand the risks associated with using public cloud.
“Not just in the financial services industry, but in the economy in general. Therefore, the use of the cloud is being reshaped by the new regulatory requirements in terms of operational resilience, resilience of critical infrastructures and even data sovereignty”Saso said.
“To address this complex challenge, we need a community approach, in which regulators, companies, users and technology providers work together”highlighted Sasso who also spoke about the ways of working and the application of the scope as the last two key aspects to take into account for 2023.
In Sasso’s view, the ways of working for business and technology teams continue to break out of their respective silos and move to BizDevSecOps. “The goal is to get the three lines of defense to communicate and collaborate to solve real business and technology challenges in order to drive efficiencies, save money and deliver value to their customers”he detailed.
Finally, on broadening the scope, Sasso mentioned that retail banking has been on the path of digitalization for some time and now we are seeing it with central banks, commercial banks, wealth and asset management companies all launching into their digital transformations.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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