Challenges and opportunities of the metaverse in the financial services

whitePaper | July 1, 2022

The rapid shift to digital-first engagement, remote work, and changing consumer preferences has launched customer service into a new era, with the financial services industry impacted in various critical ways. This trajectory is only accelerating as a host of factors - including customer behavior, industry dynamics, workforce needs, and technology trends - simultaneously require and support service organizations in rolling out new strategies and systems.

whitePaper | March 22, 2023

It’s been said that “history doesn’t repeat itself, but it often rhymes.” The adage certainly applies to banking crises in the US: every crisis, however unique the cause, has typically been followed by a new wave of regulations. This trend is likely to continue in the wake of the current crisis. In fact, reporting from the Wall Street Journal and other sources indicates that the Federal Reserve and other banking regulators are already in discussions about changes to the US regulatory regime, especially for midsize banks.

whitePaper | October 10, 2022

Over the last decade, $5 trillion of market value has been created in financial services.¹ The sector’s gross profit pool has swelled to an amount larger than any other major group – larger than software, e-commerce, semis, and even healthcare. Since financial services are ingrained into nearly every aspect of our life and work, it is a natural target for disruption and innovation. Fintech has just experienced its very first venture-fueled innovation cycle with the percent of venture dollars rising from <5% of dollars deployed in 2011 to ~22% in 2021.² Hundreds of billions of dollars invested in the space has fueled a new wave of technology evolution around the world from omni-channel payment providers to B2B payments and fully re-bundled digital banks.

whitePaper | February 13, 2023

In recent years there have been many transformations within banking that have focused on Customer360, the omnichannel experience, AML/Fraud predictions, AI digital assistants to drive operational effciency and core banking modernizations to name but a few. Yet most of them have stayed true to their core business alignment of banks controlling how their customers engage and leverage their product offerings.

whitePaper | February 22, 2023

Today’s consumer is smart, tech savvy and mobile friendly with digital sources of information at hand. The upcoming fintechs and non-banking startups pose a challenge to the way traditional banks operate, while customer expectations evolve sooner than they are documented. On the other hand, as the understanding of technology improves, banking customer demographics change with customers expecting for more sophisticated experiences.

whitePaper | April 1, 2023

“Banking is necessary; banks are not,” said Bill Gates in 1994. As financial services become increasingly embedded into everyday life, the truth of this statement has never been clearer. Customers are increasingly accessing financial services through channels other than the bank. Embedded finance is changing the banking landscape and is expected to have an estimated market value $138 billion by 2026, according to Juniper Research.