The Top Technologies for Banks Now and Next Year

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.

Related: 5 Steps to Ensure Your Tech Stack Effectively Serves Today’s Clients