The latest edition of Oaklen Consulting's industry watch highlights the role of technology in financial services innovation.
Slide
The latest edition of Oaklen Consulting's industry watch highlights the role of technology in financial services innovation.
The World Economic Forum describes how new technologies (artificial intelligence, cloud computing, distributed ledger, connected object, 5G, augmented reality and quantum computing) can be combined in the near future to build innovative financial services. In the field of payment, this opens up prospects in particular for (i) machine-to-machine payment, (ii) virtual purchasing or (iii) KYC / remote relationship entry.
The UK government is consulting with the market to develop a digital identity trust framework that structures the roles and responsibilities between different types of actors (identity service provider, identity attribute service provider, orchestration service provider, and identity attribute user) and in particular ensures interoperability of services and protection of personal data.
Deutsche Bank (DB) develops the concept of "programmable money". Although this concept has been around for a long time in the form of recurring transfers, DB explains how the digitalization of the economy introduces new needs for programmable currencies (M2M, iOT, pay-per-use, offline payments...) and how conventional payments or technologies based on crypto assets can fully or partially meet these needs for programmable currencies.
.png)
.png)
.png)
