Putin and Erdogan give positive assessment to joint efforts in Astana processWorld October 21, 3:03
Privileges to certain languages in Ukraine’s education law to worsen situation — diplomatRussian Politics & Diplomacy October 20, 21:46
International balance of forces in Syria after Raqqa’s liberation unclear yet — expertMilitary & Defense October 20, 21:05
Russia to resume import of aubergines, pomegranates from Turkey since October 30Business & Economy October 20, 20:18
International station to orbit Moon at 70,000 km distance from EarthScience & Space October 20, 20:09
US indulging in lies to have UN-OPCW mission’s mandate extended — Foreign MinistryRussian Politics & Diplomacy October 20, 19:31
This week in photos: Diplomatic kiss, Paddington's dance and French bank in flamesSociety & Culture October 20, 17:46
Scientific team unlocks secret to supercaps’ vast capacity as ‘the battery of the future’Science & Space October 20, 17:40
Russian economy’s losses from cyber threats may surge fourfold in two yearsBusiness & Economy October 20, 16:52
Digital technologies (cloud-based data storage, predictive analytics, machine learning, blockchain, etc.) are changing the fundamentals of business approaches in the financial sector, with leading banks by the minute turning into IT companies with a licence to provide financial services. The consumers are following in lockstep, quickly adapting to changes in the industry. KPMG predicts that brick-and-mortar banks will disappear by 2030 and be replaced by electronic assistants.
The digital revolution is bringing changes to the business models in multiple industries. The financial and banking sector is no exception to that.
Very soon, the technological progress will enable banks to do without staff, branches, cash or even direct engagement of online customers. For example, the IoT development will bring about refrigerators that make food orders and pay for them all by themselves.
The use of advanced technologies in finance increases the ease of doing business, and also improves customer experience.