Finance, banking, and legal services

What are the trends of innovation poised to change the way we manage our money, pay for services, or access legal advice? What are the challenges and opportunities of tomorrow? Supertrends can help you anticipate and monitor them to keep your business always one step ahead.

What is changing?

The finance and banking as well as the legal services sector are already affected by a technological transition that is shaping new service management and delivery models around the world. Trends like fintech, regtech, and insurtech are all about the sectors relying more and more on digitalization as well as going in the direction of services and operations.

In an unprecedented push of digitalization to new frontiers, these sectors are ready to explore novel products, new types of money, and sustainability in finance.

Tapping into new facets of fintech

From growing partnerships with accelerator programs for promising startups to the acquisition of new talents and skills in the fields of IoT, artificial intelligence, and robotics, many organizations are challenging the status quo. Technologies such as blockchain and quantum computing – still at an early stage of development but interesting especially for its potential to crunch information hundreds of thousands of times faster than traditional computing – form the basis of experimental programs to find increasingly efficient uses in terms of improving processes and consumer experience.

Dealing with climate change and ESG

Financial institutions and insurance companies will play a key role in financing the transition toward a net-zero future via collaborating with and funding various industries while fast-changing regulations impose new obligations. The main challenge will be how to assess climate change-related risks and apply those in financial portfolios. Fossil fuel-linked companies could find themselves with reserves unusable in a net-zero future, forcing financial institutions to back their losses. As stakeholders are starting to call for trust and meaningfulness, how to assess the positive impacts on sustainability, societal, and governance objectives will become increasingly important.

The future of digital assets and cryptocurrency

Digital assets and cryptocurrencies – such as stablecoins, central bank digital currencies, and NFTs – are increasing their momentum, leading to new investment possibilities and opportunities. At the same time, financial players will need to further define and understand the risks and opportunities related to their future developments and their long-term impact on the commercial market, investment, and the monetary system, both from a regulatory and from a business perspective.

Key technologies and innovations to watch

Plug-and-play solutions

Tools that allow businesses to integrate various services into their existing software applications without technically intensive integrations. Clients can deploy a Plug-and-Play solution out of the box, reducing the launching time of financial solutions, and simplifying compliance and data security.

Financial services are provided seamlessly within digital applications, with cheaper and faster integration for the business.

Regtech

Regtech includes machine learning, Artificial Intelligence, and cloud-based processes that address cybercrime, digital privacy, and shifting compliance needs. Software for managing regulations allows financial institutions to streamline operations and comply with global regulations more efficiently.

Currently, there are more than 220 regulatory changes every day in the financial industry, leading to approximately US$240 billion in global fines for non-compliance.

NFTs

A NFT (Non-Fungible Token) is a unit of digital data stored in a blockchain, a form of a distributed ledger. NFTs can be sold, traded, and used as a digital asset. They could represent real-world or digital objects and artifacts such as art, music, in-game items, videos, virtual land, etc.

Blockchain, the most used technology behind NFTs, is considered safe. NFTs can help to diversify an investment portfolio.

Paint a map of the most likely future with data

We help you anticipate trends and their impact on your business and on the finance, banking, and legal sector as a whole. Through our multi-data sources, we enable a decision-making process that is informed, fast, and anchored in reality.

Labs

Multiple API data sources are cleaned with machine learning and monitored over time.

Experts

Qualified professionals from across academia and business make up our expert network.

Editorial Team

Our internal experts handle curation, quality control, and content management.

Crowdsourcing

The intelligence of the crowd validates predictions and improves accuracy.

Will advances in fintech be the real answer to the new digital customer who is increasingly demanding in the delivery of financial services? What will be the fate of cryptocurrencies, the relevance of ESG, and compliance with fast-changing regulations? Find the answers you seek, all at your fingertips.

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