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According to Goldman Sachs, the B2B payments space will see volumes topping nearly $200 trillion by 2028, more than five times the volume of B2C payment flows. According to Disque, the technologies are already in place for B2C firms to take the leap into B2B, but businesses must be strategic about the tools they choose to adopt.
While technology has always been important in banking, it has yet to drive the essential functions of banking. We tracked almost 100 banking technology trends throughout the year and now bring you the top ten, in order, based on our view of long-term strategic importance. In the last year, this has started to change.
billion by 2028 and millennial women are leading the charge, according to Brittany Johnson, CEO and co-founder of online subscription-based clothing service FashionPass. This might attract customers, but retaining them requires constant innovation. The clothing rental market in the United States is projected to reach $4.4 Johnson said.
It will be possible to support emerging areas, such as the gig economy, with innovative new service products like insurance. There are technological solutions to protect that data, but — no matter which expert one asks — the consensus is that constant vigilance needs to be combined with all of them.
By 2028, debt as a percentage of GDP will reach a historical high of 106% and will reach 200% by 2050. An aging population, higher federal debt as a percentage of GDP, and higher interest rates will change the way community banks view risk, manage relationships, use technology, and generate revenue.
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As Ron Shevlin , our chief research officer, blogged : “Banks need to stop playing innovation charades. In doing so, Bank of New Hampshire is leading a trend in the United States on an important issue.
Just as ATMs have developed over the last 50 years to make our daily interaction with FIs increasingly easy, progress in technology will continue to simplify many other aspects of our lives. AI personal assistants are already present on most mobile phones, but even that technology will continue to develop. Image: iStock/jamesteohart.
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