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Digital technology is revolutionising the financial sector but the Italian ecosystem isn’t ready yet to seize the big changes taking place and is falling behind on the most significant technology trends. There is growing attention for financial Big Data but only 40% of international banks mentions them in their strategy plans. Just in the last two years 750 Fintech startups have been founded, financed with 26.5 billion dollars: the competition with traditional players is underway. Asset Management automation is under development, Robo Advisors are putting their head round the door, but only 18% of operators uses advanced digital tools for investment consulting. Banks are starting to implement Blockchains, however, there is a climate of uncertainty regarding prospects and timing.
Digitalization has brought compelling and substantial change to the world of banking and finance, changes that have been happening for over a decade already, with consequences that (...)
Digital Rethinking in Banking and Finance
The challenges for the banking system are increasingly pressing, competition no longer comes only from historical banking competitors but also from major technology players and more recently emerged actors. (...)