In the dynamic landscape of finance, where innovation is the currency of the future, it's crucial for industry leaders to not only keep pace but also anticipate the trends that will shape tomorrow's banking experience. 

In this year’s edition of Bankers as Buyers (marking the 21st), we hone in on concepts that challenge tradition and redefine the way we perceive technology, intelligence and business relationships. 

In a world where AI often takes the spotlight, it's essential to recognize the irreplaceable value of human intelligence, especially as it's related to the implementation of AI. 

“People trust people; they don’t necessarily trust technology,” said Peter Major, VP of fintech solutions of MDT. 

 While AI undoubtedly offers transformative capabilities, it’s the fusion of human experience, insight, and technology that truly propels us forward. People, as the “tip of the spear” in any transformative endeavor, bring an understanding of why things are done and how to apply this knowledge for optimal outcomes. However, this doesn’t discount the significance of AI; rather, it emphasizes the symbiotic relationship between human ingenuity and technological advancements. 

The hallmark of exceptional technology lies in its seamlessness—where it easily integrates into our lives, functioning effortlessly to fulfill our needs. Invisible technology exceeds the cumbersome barriers often associated with traditional tech interactions, offering experiences that are intuitive, smooth, and inherently satisfying.  

“It used to be that functionality of the technology was enough,” said Erin Wynn, executive director of product management for digital banking at NCR Voyix. “But in 2024, bankers are concerned not only about functionality, but also about the end user experience and the customer journey.” 

As consumers, we recognize the stark contrast between a frustrating technological encounter and one that feels inherently right. Achieving this level of excellence requires meticulous design and flawless execution—an endeavor worth following in our pursuit for technological advancement. 

The fintech explosion presents both opportunities and challenges for financial institutions. According to Statista, there were nearly 30,000 fintechs worldwide at the start of 2024, up from just over 26,000 a year ago and a little more than 12,000 in 2018. U.S. firms continue to dominate the industry, with 13,100 fintechs in 2024. 

As leaders embrace innovative solutions to drive growth and enhance customer experiences, they must also navigate the complexities inherent in these growing relationships. While some fintech partnerships thrive, others may falter—a reality that necessitates strategic planning and agile adaptation. In this ever-shifting terrain, banks must balance risk with reward, leveraging technology to fortify their positions while remaining vigilant to emerging threats and disruptions. 

Navigating the Path Forward 

By embracing actual intelligence alongside artificial intelligence, crafting seamless experiences through invisible technology, and adeptly managing the complexities of fintech relationships, financial leaders can chart a course toward sustainable growth and unparalleled success. 

In the world of finance, where change is the only constant, adaptation is not a choice—it's a necessity.  

Interested in reading the full Bankers as Buyers report? Download your free copy, here.