The innovation in the banking industry has quickly moved-on from mere transactional activities to the increasing use of data to facilitate digital processes. The use of proactive measures to sieve information, figures and insight to satisfy customer expectations and improve their experiences is the entire focus of these innovation trends. Most of all, it will to a large extent influence the choice of banking and finance project topics for students in this field.
The way things are going in this industry, there is going to be a review in the entire study curriculum of banking and finance students. This can also mean that students are going to be studying topics regarding the digitization of banking and seal the studies with their final year research projects. The basic step to becoming native to banking digitization is following trends that unfolds with time. Currently, the following trends are already invoked and will become very popular as 2019 unfolds. So, let’s see what they look like.
According to reports from the Financial Brand published December 3, 2018 the following are likely to unfold in 2019 for the banking industry.
Delivering proactive advice
Through data and analysis, banks can easily access information about their clients which enable them to give information based on their expectations and perceived needs. This is true. The first time an ATmachine in another banked called me by name pricked something in me. I realized that technology has gone beyond what we knew.
Introduction of new mobile applications
The banking industry is likely going to deploy new mobile application that will enable them personalize their services. These applications in view are likely going to be voice-aided to make conversation between the customer service and clients more intimate and personal.
They intend to stratify their target demographics
This simply means that they are going to partition their clients into different categories and serve them following the perceived needs of those in that category. Such stratification includes lifestyle, values, aspiration, mindset, age and other underserved needs of their clients.
Therefore, following these agenda for the banking industry in 2019 will award you a great plus especially in your final year project. Looking at the entire focus of this new innovation trends, it brings to bear the fact that the banking industry is trying modify their customer services and experiences. If that be the case, what is your own lot as a banking and finance project student?
Your place is simple and that is drawing your successors in research, your research audiences, your supervisors and instructors to the consciousness that your research in not complete when it does not reserve some knowledge for the future. What is that future if I may? It is technology.