If current banking and tech trends persist despite global uncertainty, a new report extrapolating these patterns could offer timely, usable insights.
AI, the Internet of Things (IoT), and edge computing are expected to reshape digital banking over the next decade, according to a market research and advisory firm’s report on digital experiences in that industry.
The report explores key innovations reshaping banking, including conversational AI-powered assistants, embedded finance through IoT-driven intelligence, and real-time autonomous decision-making supported by edge computing. Together, these advancements are expected to make digital banking more personalized, seamless, and human-centered.
Five key predictions include:
- Financial institutions will leverage AI-driven assistants to deliver multimodal, intuitive, and emotionally aware banking experiences.
- AI-enhanced IoT solutions will generate predictive insights, enabling banks to provide real-time financial recommendations.
- The maturation of 5G and the emergence of 6G will drive instantaneous analytics, optimizing efficiency and scalability for banking services.
- Consumers will see more automation in financial tasks, with AI systems providing tailored insights and recommendations.
- Robust governance frameworks will be essential for ensuring ethical AI deployment in banking, with consumer confidence dictating and shaping this trend.
The report also contains analyst views that, as digital ecosystems expand, banks will increasingly partner with fintechs and technology providers to co-create innovative services. This collaborative approach is expected to accelerate the adoption of emerging technologies, while open banking APIs and cloud-native platforms will enable seamless integration, rapid product launches, and greater flexibility in meeting evolving customer demands.
According to principal analyst Aurélie L’Hostis, Forrester, the firm releasing its paid report: “Conversational banking has emerged in recent years, and advancements in AI are set to further transform consumer interactions within financial services. The future of digital banking will be defined by modern, intuitive, and human-centered interfaces. AI-powered virtual assistants will observe, gather information, learn, and communicate with consumers. This will allow organizations to gain deeper insights into consumer intent and emotions, enabling them to generate multimodal responses that incorporate appropriate tone, emotion, and visual elements.”
