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Shaping the future of finance

The top technologies for banks now and next year

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Two big consulting firms just released interesting reports about technology trends: McKinsey and Bain.

McKinsey’s report focuses upon the technologies that matter most, and found 14!

As usual, being consultants, they had to put them into a complex chart.

And then they assess the impact of these 14 technologies by industry. For financial services, the priorities will be AI, Cloud, machine learning, low-code and no-code, digital identity, Web3 and mobile.

Download the report and checkout more here.

The Bain report takes a slightly different tack, and is more an assessment of the technology sector itself, rather than the technologies that are key. They cite the fact that investment in the sector has crashed in 2022.

Nevertheless, CIOs expect their budgets to rise this year more than previous years.

Interesting. In fact, this chart on Page 19 is particularly important for us in finance.

Download the report and checkout more here.

I’m sure there are more reports out there, but these two stood out for me in the past month.

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Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog,, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...

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