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Financial Industry Trends: The Finance Trends to Look Out For in 2020
Whether you work in finance or just like to know what is happening in the sector, keeping up to date with the latest news is worthwhile.
It not only allows you to grow your knowledge in this area but also to make the right decisions when it comes to your own money.
As we are now well into 2020, it is certainly worth looking at what major trends in finance we could see this year.
While 2019 was an exciting year with its own trends to look back on, 2020 could well offer plenty of its own.
But what might they be: financial industry trends?
Automated trading software in crypto
Cryptocurrency is worth keeping an eye on this year and we could see an increased use of robotic trading software by investors.
Systems including the Crypto Group website allow traders to profit from price moves on any coins they invest in but without having to do any of the hard work themselves.
The automated software these systems use analyses the market for you and with some accuracy for consistently profitable results.
Not only that, but the sophisticated technology they run on allows for lightning-fast trading which often is ahead of the market.
Automated trading software is perfect for those who want to get into crypto trading but have no experience, no free time to do it, or that simply want a hands-off trading journey.
As more people get into this area of finance in 2020, expect to see robotic trading platforms take off in a big way.
We couldn’t really mention financial trends in the coming year without bringing up Blockchain.
This is actually the tech which digital currencies are based on but it has emerged in recent times to offer much more.
This has enabled Blockchain to step out in its own right and get people in the whole financial sector very excited.
A big trend in finance for 2020 could well be the increased use of Blockchain-based systems and platforms across banking and financial services.
It also has a viable use as a vehicle for payment solutions which could see it cross over into areas like e-commerce and online casino play.
Many expect 2020 to be the year that this tech fulfills its potential and is rolled out into the real world for us all to use in increasing numbers.
Robots will be seen more in general financial services
We have already looked at how automated trading in crypto could become a major trend but the robots may be making other waves in financial services.
Many think a big trend for this year will be financial services companies using robots to answer FAQ’s or to give basic financial information.
While this will be done from the view of providing a better service to consumers, it will also help those companies reduce staffing costs and boost business efficiency.
Just don’t expect to see anything too sophisticated in this trending area for 2020 though! In-depth financial advice will still be handled by trained and approved human workers for now – until the tech is advanced enough to handle this as well.
Hyper-personalisation may be a thing
We all know that personalization is something that all sectors have put great efforts into in recent years. 2020 could see financial institutions step this up a notch, making hyper-personalization a major trend.
This has companies using more complex AI solutions and greater analysis of big data on individual consumers to offer a more personal experience when interacting with a client.
AI, in particular, could be used to help financial service companies connect with you across multiple channels and in real-time.
This could make finance more personal to the average consumer and also make us think more about how important it is to look after our money.
Greater regulation for financial institutions
Another key trend in finance for the coming year seems likely to be more focused on tighter regulations to protect consumers.
This is likely to be crucial as FinTech solutions continue to disrupt the sector and force those involved in finance to protect their customers’ data.
We already know that regulations such as GDPR have made a massive impact in the sector and it seems that more attention will be focused on legislation when it comes to financing businesses in 2020.
Naturally, this is great news for the public who can look forward to evening more protection for their data and money in the future.
The major trend to look out for could be the possible introduction of PSD3 laws and the impact this could have.
Financial industry trends: 2020 set to be a big year in finance
There is no doubt that the financial sector has seen a lot of change in recent years. As new technology continues to make this happen, it would seem that 2020 is set to carry on this trend.
From automated software for financial trading to more regulation and beyond, this next 12 months could be another exciting time for anyone that has to keep a professional eye on the sector and those of us that take an interest in what is going on in the world of finance.