How intelligent apps are shaping the future of finance

Published by Paul Dignan, Global Technical Account Manager, Finextra, July 13, 2017

The world of finance is changing. Consumers are becoming more demanding for ease of engagement, while financial institutions are under pressure to transform services using advanced technology. With a host of start-ups threatening the major players through innovative approaches to the market, it’s becoming an increasingly complex landscape to navigate. The one clear theme underpinning these shifts is applications. The financial sector is set to be transformed by the evolution of apps, whether adapting working methods to achieve greater efficiency or by consumers looking to better understand and manage their finances. 

F5 Networks recently commissioned a report called The Future of Apps conducted by the Foresight Factory, which unveils some fascinating insights into major trends and projections that will significantly impact society over the next decade. The findings include important trends that will affect the finance industry and, in particular, the use of blockchain. With new breakthroughs in technology set to influence businesses across a variety of industries, the report sheds light on where action must be taken to capitalise on the opportunities and avoid areas of increasing threat.

... for some experts, the mid-term will still be about helping humans to make better decisions. We are looking at the horizon closer to 10 years before AI and machine learning are really in the driving seat. Jana Eggers of Nara Logics comments: “To me, what's next is how we can empower humans ... the computer can calculate many more options and the human can do a better job at deciding between those options. Very little of what we do is actually computing; a lot of it is decision and reasoning – and computers really aren't there yet.

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