News
Finance: A Look into 2024!
| Stefano Casu, Innovation Officer ReActive
The year 2023 concluded with one of the most important events for financial ecosystems: the “Salone dei Pagamenti”.
As a company directly involved in the digital transformation of the finance industry, we had the opportunity to once again observe the important role of institutions in promoting innovation initiatives, also thanks to the European push (as seen, for example, in the Digital Euro).
This confirms a virtuous trend in which the Italian and European regulators 'communicate' with financial operators, responding to their requests more quickly and directly than in the past.
In this context, the call for proposals from the Milan Hub of the Bank of Italy, dedicated to different areas of innovation, and the consortium for the European EUDI Wallet stood out. This consortium involve several Italian operators to standardize the management of digital identity and citizen data in accessing public and private services.
ESG (Environmental, Social, and Governance) and AI (Artificial Intelligence) will significantly impact the innovative strategies of the finance industry. For ESG, the validating element will be linked to increasingly stringent regulatory obligations starting from 2024. As for AI, the market enthusiasm (end-users) and the intuitively recognized potential - particularly in terms of service personalization/customer relations - will accelerate its adoption.
Finally, among the themes that could be defined as "mainstream," the issue of DLT (Distributed Ledger Technology) solutions remains, where there is a great deal of excitement, including on the regulatory front.
Therefore, 2024 promises to be very interesting!
The real challenge for the finance industry will be to channel all these "impulses" into structured paths of innovation and business models that meet the real new needs of the market (citizens and businesses).
Technology will as always be crucial, but only if accompanied by highly qualified functional skills capable of dynamically managing changes in demand and regulations, ensuring competitiveness based on innovative, secure, and sustainable solutions in the long term.
For further insights, also watch the video interview of our COO, Marco Cometti, at the “Salone dei Pagamenti” 2023
The year 2023 concluded with one of the most important events for financial ecosystems: the “Salone dei Pagamenti”.
As a company directly involved in the digital transformation of the finance industry, we had the opportunity to once again observe the important role of institutions in promoting innovation initiatives, also thanks to the European push (as seen, for example, in the Digital Euro).
This confirms a virtuous trend in which the Italian and European regulators 'communicate' with financial operators, responding to their requests more quickly and directly than in the past.
In this context, the call for proposals from the Milan Hub of the Bank of Italy, dedicated to different areas of innovation, and the consortium for the European EUDI Wallet stood out. This consortium involve several Italian operators to standardize the management of digital identity and citizen data in accessing public and private services.
ESG (Environmental, Social, and Governance) and AI (Artificial Intelligence) will significantly impact the innovative strategies of the finance industry. For ESG, the validating element will be linked to increasingly stringent regulatory obligations starting from 2024. As for AI, the market enthusiasm (end-users) and the intuitively recognized potential - particularly in terms of service personalization/customer relations - will accelerate its adoption.
Finally, among the themes that could be defined as "mainstream," the issue of DLT (Distributed Ledger Technology) solutions remains, where there is a great deal of excitement, including on the regulatory front.
Therefore, 2024 promises to be very interesting!
The real challenge for the finance industry will be to channel all these "impulses" into structured paths of innovation and business models that meet the real new needs of the market (citizens and businesses).
Technology will as always be crucial, but only if accompanied by highly qualified functional skills capable of dynamically managing changes in demand and regulations, ensuring competitiveness based on innovative, secure, and sustainable solutions in the long term.
For further insights, also watch the video interview of our COO, Marco Cometti, at the “Salone dei Pagamenti” 2023