4 technologies that are shaping the future of finance — an explanation for non-technical mortals
This is the moment to take time and understand
It’s paramount for decision makers to understand how technologies that shape the financial services industry really work. Technology and business have become completely intertwined by now, and that is how things will stay. Of course technology has been widely used in financial services for decades, but its importance was nothing like it’s become over the last ten years.
Not long ago, you sent messages to the engine room and hoped that the IT guys would figure out what to do. More specifically, you sent “business specs” or “demand requirement documents” and hoped that you’d get software that resembled something you’d imagined. Once you finished contributing to the spec you could return to your real job — the one not revolving around computers but around finances and banking. But as consumers started to pass the barrier between physical and digital space the importance of IT solutions skyrocketed.
You’ve probably noticed that you started to spend more and more time at meetings making decisions about technologies, infrastructure and other seemingly exotic topics. There is no engine room anymore: now your whole company is the engine room! Just as technology permeated your private life (think of the last time you took a walk without your smartphone) the same has happened to your workplace. This marriage of tech and business won’t dissolve; the union will just grow stronger and stronger. To accommodate this new reality business decision makers have to develop a deeper understanding of the IT world. Only this can lead to fruitful conversations about the future of your company with engineers and decisions which are rooted in the understanding of each other’s domains.
So after all, we have to face the fact that the future in financial services will belong to those who understand the tech behind it. Supercharge’s guide, written by our finest digital innovation experts, working in the intersection of tech and business, will help you to make sure you have a crystal clear picture.
In this series of articles we focus on the following four key technologies that has the most impact on changing the face of the financial industry today. You probably encounter them on a daily basis — if not, trust us, you will. We will introduce you to their importance in financial services one by one, not missing out on their benefits and drawbacks.
1. The tech behind Open Banking and PSD2
2. Microservices and Containerisation
3. Big Data
4. Artificial Intelligence and Machine Learning
At Supercharge we build futures, not just tech. We are your innovation partner to turn disruption into opportunity. If you liked this article, check out some of Supercharge’s other articles on our blog, and follow us on LinkedIn, and Facebook. If you’re interested in open positions, follow this link.
