What you need to know: Important trends show a move away from the current players that rely on analogue business models to digital disruptors. Big data will change businesses as online interactions and transactions increase. Cloud platforms will support report filing, investor reporting, and investment operations requirements. The use of outsourcing and new technologies allows the creation of products and services that are more appealing and reduce cost pressures. Traditional financial firms are now looking into different innovation approaches in order to catch up with fintech companies.
Why it is important: Digital businesses will be commercially viable because of the trends. They will be a threat to established business models thereby provoking a permanent change.
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