{"id":2320,"date":"2021-01-21T05:46:00","date_gmt":"2021-01-21T05:46:00","guid":{"rendered":"https:\/\/expleo.com\/global\/en\/?post_type=insight&#038;p=2320"},"modified":"2025-11-24T11:07:57","modified_gmt":"2025-11-24T11:07:57","slug":"the-future-of-finance-and-technology","status":"publish","type":"insights","link":"https:\/\/expleo.com\/global\/en\/insights\/blog\/the-future-of-finance-and-technology\/","title":{"rendered":"The future of finance and technology"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2320\" class=\"elementor elementor-2320\" data-elementor-post-type=\"insights\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bc55e0c gg-article-content  gg-standard-article-template gg-simple-text gg-container-small-pt-72 gg-pb-72 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bc55e0c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ee1b85a gg-tablet-view\" data-id=\"ee1b85a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-db020f1 gg-display-none-print elementor-widget elementor-widget-image\" data-id=\"db020f1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/expleo.com\/global\/en\/wp-content\/uploads\/2021\/10\/industries-banking-1280x720-1-768x432.jpg\" class=\"attachment-medium_large size-medium_large wp-image-1945\" alt=\"Information board with a stock chart\" srcset=\"https:\/\/expleo.com\/global\/en\/wp-content\/uploads\/2021\/10\/industries-banking-1280x720-1-768x432.jpg 768w, https:\/\/expleo.com\/global\/en\/wp-content\/uploads\/2021\/10\/industries-banking-1280x720-1-300x169.jpg 300w, https:\/\/expleo.com\/global\/en\/wp-content\/uploads\/2021\/10\/industries-banking-1280x720-1-1024x576.jpg 1024w, https:\/\/expleo.com\/global\/en\/wp-content\/uploads\/2021\/10\/industries-banking-1280x720-1.jpg 1280w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fe710fd gg-font-v9 gg-class-for-iphone8  elementor-widget elementor-widget-text-editor\" data-id=\"fe710fd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The 2010\u2019s have been a decade of significant change, driven by technological advances which are showing little sign of slowing. Alongside this, market growth across multiple industries is being increasingly challenged by consumer behaviour. New challenges are being laid down and to remain relevant, UK businesses are facing tough decisions on how to best align to the current economic climate.<\/p><p>With significant change comes great opportunity. As we look forward to 2021 and the next decade, it must be acknowledged that in spite of market challenges, it is an exciting time for businesses who are looking to use\u00a0<a href=\"https:\/\/expleo.com\/global\/en\/insights\/blog\/the-5-forces-of-digital-transformation\/\" data-wplink-url-error=\"true\">technology to drive their future success.<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-33c4430 gg-font-v5 gg-custom-dark-purple-color elementor-widget elementor-widget-heading\" data-id=\"33c4430\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The biggest change of the past decade: fast money<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b7f8164 elementor-widget elementor-widget-text-editor\" data-id=\"b7f8164\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Currency has been used to trade in exchange for goods and services for millennia. Each evolution has been prompted by a shift in convenience. Bartering? Too variable. Bronze replicas? Too cumbersome. Metal coins? Too heavy. Paper? Too bulky.<\/p><p>For a long time, plastic cards seemed to have cracked the problem: easily portable, quick, convenient. Then Apple launched the iPhone in 2007, which represented a seismic cultural shift in how we go about our daily lives.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cae6ca9 gg-display-none-print elementor-widget elementor-widget-image\" data-id=\"cae6ca9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"450\" src=\"https:\/\/expleo.com\/global\/en\/wp-content\/uploads\/2021\/10\/industries-telecoms-1-1280x720-1-1024x576.jpg\" class=\"attachment-large size-large wp-image-2318\" alt=\"Phone in hand\" srcset=\"https:\/\/expleo.com\/global\/en\/wp-content\/uploads\/2021\/10\/industries-telecoms-1-1280x720-1-1024x576.jpg 1024w, https:\/\/expleo.com\/global\/en\/wp-content\/uploads\/2021\/10\/industries-telecoms-1-1280x720-1-300x169.jpg 300w, https:\/\/expleo.com\/global\/en\/wp-content\/uploads\/2021\/10\/industries-telecoms-1-1280x720-1-768x432.jpg 768w, https:\/\/expleo.com\/global\/en\/wp-content\/uploads\/2021\/10\/industries-telecoms-1-1280x720-1.jpg 1280w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b5e10e9 elementor-widget elementor-widget-text-editor\" data-id=\"b5e10e9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>This one device enables us to stay connected and productive in so many ways, that it was inevitable it would also be the catalyst for another evolution in the story of currency. Contactless payments are designed to be seamless and convenient. One tap, and the shopper is on to their next errand. Simple.<\/p><p>Arguably, of all the technologies which have emerged over the last ten years,\u00a0<a href=\"https:\/\/www.ft.com\/content\/61848ba0-7731-11e9-bbad-7c18c0ea0201\" target=\"_blank\" rel=\"noreferrer noopener\">contactless payment has claim on being the most impactful on our daily lives .<\/a><\/p><p>Here it is worth thinking of the proverbial swan, calm and collected floating on the lake\u2019s surface, yet paddling away under the water. The technology used to deploy, integrate and support contactless systems is complex. Layers of data and functionality are in play, with security constantly being tested, reviewed and enhanced so users can remain confident that their money is protected.<\/p><p>Across travel, retail, entertainment and beyond, experts are already looking for the next technology evolution in the payment space that will ensure customer experience remains paramount. In the early 2020\u2019s, we are likely to see\u00a0regulation technology\u00a0move into the spotlight while\u00a0biometrics become mainstream.<\/p><p>The businesses leading the charge will be those who can ensure systems are fit for purpose, delivering a simple user interface and offering rigorously-tested security.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f832550 gg-font-v5 gg-custom-dark-purple-color elementor-widget elementor-widget-heading\" data-id=\"f832550\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The differentials to come in the next decade:<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a0cc87d gg-font-v8 gg-custom-dark-purple-color elementor-widget elementor-widget-heading\" data-id=\"a0cc87d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">1. Winning the data war<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8067f5b elementor-widget elementor-widget-text-editor\" data-id=\"8067f5b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Managing data in a way that combines and analyses knowledge from across global organisations is still a major challenge. Stricter data integrity and protection laws, heavy fines and lower customer trust won\u2019t make this critical opportunity any easier to grasp.<\/p><p>However, those that can master big data, real-time analytics and enhanced cognitive capabilities will be better equipped to counterstrike the\u00a0<a href=\"https:\/\/expleo.com\/global\/en\/insights\/blog\/fintechs-working-with-banks-a-guide-to-overcoming-the-pitfalls\/\" data-wplink-url-error=\"true\">Fintech<\/a>\u00a0threat and remain relevant.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-704f6aa gg-font-v8 gg-custom-dark-purple-color elementor-widget elementor-widget-heading\" data-id=\"704f6aa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">2. Guaranteeing financial resilience<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-02728fe elementor-widget elementor-widget-text-editor\" data-id=\"02728fe\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Since the 2008 banking crisis, regulators have forced institutions to swell their reserves in case of another crash. With the growing dependency on technology \u2013 and the potential threat of disruption from\u00a0<a href=\"https:\/\/expleo.com\/global\/en\/services\/product-engineering\/\" rel=\"noreferrer noopener\">cyber terrorism<\/a>, outages and data breaches \u2013 Financial Institutions (FIs) may soon need to guarantee their operational resilience too. Or they may choose to advertise resilience as a competitive advantage.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d1a97e6 gg-font-v8 gg-custom-dark-purple-color elementor-widget elementor-widget-heading\" data-id=\"d1a97e6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">3. Making use of robotics\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-93ebb54 elementor-widget elementor-widget-text-editor\" data-id=\"93ebb54\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>AI assistants and humanoid robots are constantly evolving. These technology advancements are key for FIs becoming cognitive \u2013 replicating the human ability to learn and respond to the\u00a0<a href=\"https:\/\/expleo.com\/global\/en\/insights\/blog\/breaking-barriers-to-trust-using-robotic-process-automation\/\" rel=\"noreferrer noopener\" data-wplink-url-error=\"true\">preferences of customers<\/a>.<\/p><p>That said, there is still work to be done in convincing customers that a personalised service from a chat bot who can understand your speech, gestures and even your facial expressions is a good thing.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-73ad066 gg-display-none-print elementor-widget elementor-widget-image\" data-id=\"73ad066\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"450\" src=\"https:\/\/expleo.com\/global\/en\/wp-content\/uploads\/2021\/10\/inspiration-for-the-tech-sector-1280x720-1-1024x576.jpg\" class=\"attachment-large size-large wp-image-1967\" alt=\"Android and human hand\" srcset=\"https:\/\/expleo.com\/global\/en\/wp-content\/uploads\/2021\/10\/inspiration-for-the-tech-sector-1280x720-1-1024x576.jpg 1024w, https:\/\/expleo.com\/global\/en\/wp-content\/uploads\/2021\/10\/inspiration-for-the-tech-sector-1280x720-1-300x169.jpg 300w, https:\/\/expleo.com\/global\/en\/wp-content\/uploads\/2021\/10\/inspiration-for-the-tech-sector-1280x720-1-768x432.jpg 768w, https:\/\/expleo.com\/global\/en\/wp-content\/uploads\/2021\/10\/inspiration-for-the-tech-sector-1280x720-1.jpg 1280w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-244b7f8 gg-font-v8 gg-custom-dark-purple-color elementor-widget elementor-widget-heading\" data-id=\"244b7f8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">4. Do not write off the human touch<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e7d8b1f elementor-widget elementor-widget-text-editor\" data-id=\"e7d8b1f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>One of the many benefits\u00a0of digital transformation is its ability to automate the most routine office tasks. Undoubtedly, this upheaval will cause widescale restructuring in FIs. However, employers will still need people with the soft skills, who can create a human experience for customers and keep the brand relevant to everyday community life.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f1bc4c6 gg-font-v5 gg-custom-dark-purple-color elementor-widget elementor-widget-heading\" data-id=\"f1bc4c6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">To the future<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-26930c6 elementor-widget elementor-widget-text-editor\" data-id=\"26930c6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>As technological advances revolutionise FIs, efforts to drive efficiencies, improve processes and overhaul supply chains will become central to delivering best-in-class customer service.<\/p><p>The challenge for FIs, is to assure that whilst these innovations offer significant benefits to businesses and consumers alike,\u00a0<a href=\"https:\/\/www.forbes.com\/sites\/alanmcintyre\/2019\/03\/25\/people-trust-banks-but-banks-need-to-continue-to-earn-that-trust\/?sh=581c6f603472\" target=\"_blank\" rel=\"noreferrer noopener\">transparency and trust<\/a>\u00a0is set to become the \u2018crucial\u2019 offering.<\/p><p>By\u00a0<strong>Stephen Magennis, MD for UK Quality Business at Expleo,<\/strong> a trusted partner for end-to-end, integrated engineering, quality services and management.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The 2010&#8217;s have been a decade of significant change, driven by technological advances which are showing little sign of slowing.<\/p>\n","protected":false},"author":78,"featured_media":1945,"parent":0,"template":"","meta":{"_oasis_is_in_workflow":0,"_oasis_original":0,"_oasis_task_priority":"","footnotes":""},"topic":[164,145],"insights-single-templates":[316],"industry-taxonomy":[38],"content-type":[23],"country":[130],"service":[216,54,59,48,79,208,60,83],"class_list":["post-2320","insights","type-insights","status-publish","has-post-thumbnail","hentry","topic-artificial-intelligence-and-robotics","topic-digital-transformation","insights-single-templates-old-template","industry-taxonomy-banking-and-financial-services","content-type-blog","country-united-kingdom","service-digital-transformation","service-software-quality-assurance","service-application-transformation-assurance","service-big-data-analytics-ai-and-advanced-algorithms","service-expleo-academy-training-and-upskilling","service-quality-testing","service-tech-enabled-business-processes","service-transformation-consultancy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.0 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Expleo | The future of finance and technology<\/title>\n<meta name=\"description\" content=\"The 2010&#039;s have been a decade of significant change, driven by technological advances which are showing little sign of slowing. 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