Real-time interactions are the gold standard for today’s digital-enabled consumer experience. Yet retail banking and insurance firms are struggling to keep up with these high demands because their traditional IT infrastructures hold them back from making progress in incorporating digital technologies and competing against new disruptors.
With more and more organizations using the cloud to host their applications, the scope of e-commerce and the volume of non-cash payments will continue to increase. The greatest growth will be found in developing countries where wireless communications and mobile devices are reaching even the remotest corners.
We surveyed more than 100 financial services experts to learn how they’re handling key competitive issues and opportunities while preparing for the future. In a new report, published by Finextra and sponsored by Equinix , find out how the right interconnection strategy can help you embrace retail banking’s new digital frontier: Interconnection and Data at the Edge: A New Frontier of Competitive Advantage in Financial Services.
In Hong Kong, businesses have responded late to Digital Transformation. Playing catch-up, a lot of enterprises are now going through their own transformations quickly as they realize it is key to staying relevant. Hong Kong in general is a cautious market; businesses don’t jump feet first – they wait for industry movements, assess these movements to see if they’re a fad, and ask themselves, “Do we really need to do it?”
What does the digital edge have to do with payments? The answer lies in the fact that the world has gone digital, which is changing almost every aspect of how payments are processed. The digital edge is enabling payment providers to connect to their customers where they are, to deliver services that are fast and secure.
To ensure the legitimacy and security of each transaction using distributed ledger technology, a shared public ledger, or transaction record called the “blockchain,” is kept. Blockchain records and verifies all transactions across a public network of distributed participants in a chain that is open and visible to all.