The Finance Industry's Obstacles Are Its Opportunities
When taking a closer look at the challenges faced by the finance industry, it becomes clear that most of them are ideas for improvement. That’s what Dmitry Dolgorukov, HES FinTech CRO, is talking about in his new piece on Forbes.
For example, the urgent need to limit (or pause) face-to-face services improved the adoption of digital compliance procedures and created a higher demand for financial software development as a whole.
Here are the most pressing challenges in banking and financial services today (that can be turned into opportunities):
- Digital is the new normal. COVID skyrocketed the downsizing of brick and mortar offices. But does that mean that incumbent banks can quickly switch to digital experience? Or does that mean that challenger banks will inevitably win?
- Blockchain and crypto tech. Are we going to talk about the rise or about extreme volatility?
- Regulation and innovative legislation solutions. What will be the impact on the market?
- Unfreezing lending. What does the future keep for the lending industry after the knock-on effect during the post-pandemic?
Read the full Forbes article with recent 2021 statistics, some industry forecast, and more:
At the moment, we witness the finance industry changing at the velocity of light. Which changes can be used for good by your own financial business? Follow the HES FinTech Blog to be the first to know about lending trends and major industry shifts.