2018 is seen as a pivotal year in the financial services sector. In order to deliver excellent service, they must keep up with the current financial trends. Here are the top 5 most anticipated financial trends that are expected to be realized next year.
Commercial Real Estate
This is considered as a dynamic and ever-changing sector, and is a critical sector to watch out for in 2018. The shift in demographics, rise of startups and financial technologies will most likely have a big impact in this sector.
Blockchain is considered as the building block of cryptocurrency. This trend will most likely evolve in the coming years as well. Blockchain applications are already seen as potential investments for major financial institutions.
Process efficiencies are currently being looked at by most financial players. Trade finance has much potential that is yet to be discovered, and will most likely be one of the top trends next year.
PSD2 is considered to be a revenue opportunity for banks. This will pave the way for PISPs, or Payment Initiation Service Providers, to look into potential banks. It will also enhance security and safety of transactions.
Universal Business Language or UBL will continue to be the choice for automation and standardization of invoice processes in the financial services.
These top trends will hopefully offer a glimpse of what to expect in the financial sector and services. These developments will also help in driving economic growth in this sector.