Venezuela native Julio M. Herrera Velutini has years of experience as the chairman of the board for an online international bank with offices in Puerto Rico and Florida. In 2016, banking professionals like Julio Herrera Velutini will be anticipating changes in industry trends, including an increased need for technological investment.
Analysts and banking-sector professionals are suggesting that 2016 banking trends will necessitate a larger budget allowance for technological spending by up to 10 percent, with much of the additional cost put toward enhanced security measures. In light of recent data breaches that have become news for many high-profile companies, banks may look to advanced systems that incorporate biometrics, analytics, and blockchain systems to offer clients greater security without diminishing the ease of the online customer experience.
According to a study performed by SourceMedia, many banks also expect greater investments in mobile banking and online banking developments. Additional predictions for 2016 banking trends include a heavy reliance on data analytics, and the insights that it provides, to allow businesses to evolve and make changes that align with customer values.