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how the world will be in finance and banking by 2029 (characteristics (low…
how the world will be in finance and banking by 2029
90% of the entities will have disappeared and will be committed to transparency.
It can represent 20% of the financial market in about ten or twenty years.
Depend on the leadership capacity of the main authorities
characteristics
low costs
minor commissions
easy access
The relationship with the customer will be online
advanced analysis
transformation would occur through point-to-point loans (P2P)
The intermediation of traditional companies disappears.
Payment in real time through distributed accounting books.
out of cash
The old intermediation scheme - with banks, and financial, and traditional insurance companies - has no future.
Finances operate in real time, so that periodic reports will become obsolete.
Industry professionals have to adapt their skills as these new technologies impact on their jobs
New models of service delivery will appear as robots and algorithms join a more diverse financial workforce.
Fintech
union of the words finance and technology
consists of a relatively recent phenomenon of companies trying to change the financial industry
through
raid of online solutions.