High-tech innovations make banking more secure and practical
Implications - Consumers are in dire search of financial institutions that will offer them a simultaneous rise in security, speed and efficiency. Product innovators are combining modern technology with customized products and services, from designer credit cards to pay-by-phone and USB train tickets.
Trend Themes
1. Biometric Security - Businesses that are able to deliver the most advanced technology and cutting-edge innovations in their products will likely generate high-levels of success.
2. Mobile Wallets - Products that enable phone payments and allow users to purchase products remotely will change the way consumers pay for goods.
3. Customized Designs - Financial institutions that offer consumers customized products and services, such as designer credit cards, will experience greater success due to rising demand for uniquely personalized financial solutions.
Industry Implications
1. Finance - Business professionals in the finance industry can explore the rise of biometric security, mobile wallet adoption, and customized design offerings to develop innovative solutions that align with consumer demands.
2. Retail - Retail professionals can benefit from the trend of mobile wallets to offer a more streamlined and technology-driven shopping experience for customers.
3. Technology - Professionals in the technology industry can explore biometric security to develop new and innovative solutions to protect sensitive data and offer more secure devices for personal or business use.
