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By 2030 Millennials Will Have $20 Trillion In Wealth. Here’s What They Want In Robo-Advisors

Bank Innovation

Millennials are expected to have $20 trillion in wealth by 2030, according to a July 2018 CB Insights study. Marketing investment options and robo-advisors to this mobile-centric group will require a specific strategy. Currently, millennials’ combined financial assets come up to $4.5 trillion in wealth.

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Saudi Arabia’s Open Banking Plan Aims To Advance Digital Innovation

PYMNTS

The Saudi Arabian Monetary Authority (SAMA) is introducing an open banking policy to advance digital innovation in the financial services sector. This initiative aligns with priorities set for both Saudi Vision 2030 and for the Financial Sector Development Program (FSDP).

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The Rise Of eCommerce And Digital Banking Innovations

PYMNTS

And in innovation, Banking-as-a-Service (BaaS) is making it simpler for companies and FinTechs to create functions for sending and receiving payments in addition to managing banking data. 3.6T: Projected size of the "embedded finance" market by 2030. Salesforce predicts that a digital surge could strain holiday shipping.

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Kia Rolls Out Connected Car Subscriptions Via Zuora Platform

PYMNTS

The markets for automotive software and electrical/electronic (E/E) components is anticipated to reach $465 billion between 2020 and 2030, up from $238 billion, according to the McKinsey report Mapping the Automotive Software-and-Electronics Landscape Through 2030. Connected services are the future of the automotive industry.

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The Senior Factor In Smart Home Innovation

PYMNTS

By 2030, the Census estimates there will be 78 million Americans over the age of 65 – that means one in every five residents of the U.S. population is getting older. Today, there are roughly 50 million Americans over the age of 65, according to the U.S. Census Bureau , and that number will rise sharply over the next decade.

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How One Nevada Credit Union Secures Its Self-Service Innovations

PYMNTS

The collaboration aims to fill one-third of CU leadership positions with diverse individuals by 2030, and plans to provide education services, referrals and consulting services to execute this diversity initiative. For more on these and other CU news items, download this month’s Tracker.

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Asia Will Lead In Use of AI and Automation in Financial Services, Study Says

Bank Innovation

By 2030 the global growth rate for use of automation technology in companies, including fintech and financial services, will stand at 15%. The advent of AI technology, with innumerable use cases for financial services, will also have a great impact on cost savings and output for companies.

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