Financial services have a significant influence on each economy. We have been witnessing a huge push towards digital services in this sector. In addition to existing challenges like Fintech disruption, Exceeding consumer expectations, Cybercrime, and Customer retention, an uncertain economy is likely to pause digital investments for a short time.
However, the new way of working is likely to see a push towards more innovative products to retain or increase their market share. We foresee investments in Digital Wallets, On-Demand direct banking, Conversational banking, and Open banking increasing in the Digital space.