As we near the end of 2024, some key trends continue to reshape the financial industry. There was a focus on customer experience, security, and accessibility, while technological innovation continues to drive the industry forward.
So what are some of these main key trends?
Digital Wallet Transformation
This was a big one. Digital wallets such as Apple Pay and Google Pay have evolved, becoming important finance t tools for consumers worldwide. These platforms now offer features other than basic payments, including investment options, cryptocurrency trading and cross-border payment capabilities.
AI – in the back office and beyond
AI was fully immersed in 2024. Moving into 2025, it will be used more often as it automates day-to-day tasks like processing transactions, reconciliation, data entry, compliance and fraud detection. This is because the efficiency has huge gains and the reduction in human error leads to significantly reduced operational costs.
Talking about AI… the next is:
Chatbots And AI Assistants In Customer Service
We have seen the rise and rise of autonomous chatbots becoming indispensable in customer service, offering 24/7 support and capable of dealing with more sophisticated interactions than we thought was possible. As we head into 2025, we will begin to see these bots evolve into agents that are capable of handling tasks that require multiple actions and far more complex problem-solving skills.
Sustainable finance products And ethical investment
Sustainable finance emerged in 2024 as essential to modern financial services, with some environmental considerations a main place in product development and part of investment decisions. As we go into 2025, customers will be demanding sustainable and ethical financial products from finance companies. Banks and other institutions will be expected to be honest and transparent about data such as energy use and carbon emissions generated by transactions. This will help customers to make educated decisions about how their financial choices impact their environmental footprint.
A roundup
The financial services industry – and the responsibility of financial directors and finance managers has always been about trust, security, and service. So what’s changing in 2025? How these fundamentals are delivered. The banks and other financial institutions that will succeed aren’t just adopting new technologies – they’re reimagining what banking means in the digital age. The future of banking isn’t just digital/AI/robotic – it’s intelligent, sustainable, and more human than ever.
Learn more at our financeSHOWCASE events in 2025. More info here
