From the spectacular increase in bitcoin’s value to the rise of automation and machine learning, it’s been a mad, wonderful and exciting year for financial services.
To celebrate this I’ve brought together some of the most valuable lessons we learned across this industry in 2017…
1. The potential for co-creation between finance and insurance
Co-creation is the big idea that obsessed us all in 2017. But what does it mean in the context of financial services?
The second episode of our financial services podcast gave us an answer.
Andrew Hilton, director and co-founder of the Centre for the Study of Financial Innovation (CSFI), acted as host. He was joined by Fujitsu’s Anthony Duffy and Mark Boulton.
Together they discussed the need for co-creation between finance and insurance and the mutual benefits both industries can expect to see as a result.
Listen to the podcast to find out more.
2. What RPA really means for banking and insurance
The next big lesson of 2017 was that robots – or at less, robotic process automation (RPA) are poised to make a big difference in FS.
In this blog post, we revealed the hidden facets of RPA – the technology that’s set to revolutionise 64% of management, business and financial tasks by 2020.
We’re all aware of RPA’s potential to save hours of work for our employees, but not many people have considered how many hours of work will be needed to implement it.
This is an important ‘behind the scenes’ look at the technology that will shape the business world for the next few years – a worthy lesson for 2017.
3. How IoT could change the way we think about home insurance
Home is where the heart is.
Or at least that used to be the case. Now home often feels like more of a network of connected devices, and the number of connected devices is expected to grow to 193 million by 2020 globally.
Fujitsu’s insurance sector lead Mark Boulton took us through the new landscape of home insurance in light of connected tech.
We’ll have an overwhelming amount of data about our customers’ homes, so what should we do with it? Read Mark’s blog post to find out.
4. Why Hybrid IT could be a solution to the cyber security offensive
Cyber security is a priority for all businesses, especially after a year of high-profile hacks.
So it’s an ideal moment to return to the wise advice of our financial services CTO Ian Bradbury.
In his blog post, he provides his perspective on the cyber security crisis, suggesting an easy answer: employ hybrid IT, which can protect legacy systems at a fraction of the cost.
Hybrid IT is a trend we expect to grow in the next few years – check out Ian’s post to get ahead of the game.
5. Highlights from Fujitsu Forum
This year’s Forum marked another exciting moment for the financial services sector.
Some of the brightest financial minds met to discuss everything from blockchain to fintech.
A particular highlight was the breakout session led by the Royal Bank of Scotland, in which we learnt how to empower employees by building a digital office.
Take a look at our highlights from Forum to find out more.
Clearly, it’s been a big year for financial services.
If we can learn the lessons from the last twelve months we can make the next 12 the biggest yet.
Latest posts by Mike Foster (see all)
- The fast and the friendly: What can we expect from the bank of the future? - March 6, 2018
- Financial services at Fujitsu Forum 2017: everything you need to know - December 22, 2017
- Five lessons in financial services tech from 2017 - December 22, 2017