• Ian Bradbury, CTO for Financial Services at Fujitsu UK and Ireland


• 10.04.2019 11:45 am
Machine Learning , financial services

According to our own research, 73% of the public believe banking has already been dramatically changed by technology, while 95% of financial services leaders agree technology is driving change in their organisation. Machine learning is a key part of this and, coupled with new technology, it’s set to change the face of the industry entirely.

For legacy players, the challenge is to understand how the combination of new technology and different consumer behaviour is changing the nature of the banking. They need to rapidly work out how to digitise, simplify and rebuild their processes to become more agile and adapt to this new environment.

In contrast, start-up banks may be able to embed new technologies, such as quantum, more quickly; but they do not always have the infrastructure to secure their systems, comply with regulation, or develop the policies needed to ensure that technology meets its potential.

In our modern era of financial services, no organisation is “perfectly” set-up – the speed of change and the transformational nature of it makes that impossible. The key is to be flexible and adaptive enough to be able to take advantage of the enormous benefit on offer from technologies such as Machine Learning.