It is going to be a fantastic year and a brilliant decade that we should be delighted to be part of. Here is why we should all be optimistic as technology is going to make our lives easier and help to minimise fraud in digital banking and authentication.

I believe we are going to see more changes and developments in the financial services industry over the next few years than we have seen in the last 5 decades. It is going to be very exciting for those that can embrace the change and it will be very stressful for those that cannot or will not. Technology is going to be the driving force for change which will be driven by the consumer.

Security & Authentication Changes

The first major trend that we are seeing is around security and authentication. Without this firmly in place – innovation will be stifled and the costs of doing transactions are set to increase.

It is hard to believe that almost two decades ago we lived through a disruptive cycle and attempted discredit when we were the pioneers in launching Mobile Banking using USSD. We stuck to our guns, despite the discredit that the industry threw at us and we are very thankful to the early adopters and innovative banks including Honduras, Mexico, Romania, Tanzania Zambia, South Africa, Nigeria, Rwanda, Namibia, Albania,  – and today Mobile banking and Mobile payments are an integral part of life and the accepted norm.

by Brian Richardson

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