The 5G generation of cellular technology is right around the corner. As countries begin to roll it out, 5G will transform the way we live and work — and this will open up fresh opportunities for retail banking.
As the coronavirus Covid-19 is spreading worldwide, financial institutions are being forced to move their customer services fully online.
Half a century ago ATMs caused a revolution in the banking industry, eliminating the need to visit a bank branch to withdraw cash or deposit a check. Multifunctional ATMs that could perform basic financial transactions such as money transfers between accounts that previously were handled by tellers debuted in 1971. They showed that banking operations could be performed without the need for a branch or operator.
Almost a year ago, Apple introduced its first financial product – Apple Card. The project was implemented in partnership with Goldman Sachs and MasterCard.
The leaders in cloud technologies – Amazon and Microsoft – are paving the way to enhanced data processing and storage services. Businesses around the world are quickly coming round to the potential of these new opportunities. Cloud infrastructure is used by various business sectors, including financial organizations.
In 2014 Facebook acquired WhatsApp messenger and more than a year ago successfully launched its pilot in India. This February, the National Payments Corporation of India (NPCI) gave permission for the official rollout of the payment system.
The success of any business depends on demand for its products, profitability and customer loyalty, which is directly related to product quality and its rapid adaptation to changing customer needs.
