According to Sandstone Technology’s Chief Customer Officer Jennifer Harris, 2024 will bring a return to ‘normality’ – or the closest we’re likely to get, post pandemic. Jen and colleague Michelle Yu, Chief Product Officer, came together to discuss the question: ‘what does 2024 have in store for financial services organisations?’ Below, we cover regulatory changes, Gen AI, cybersecurity threats and more.

The pandemic, economic volatility, social and behavioural change, followed by corresponding waves of tech advances - all have had tremendous impacts on financial institutions. With the final weeks of 2023 fast approaching, we look back at the trends that have been re-shaping the finance sector and continue to drive its evolution. 

Whether it is personalised content on your social media feeds, instructing Alexa to change the song or using FaceID to gain access to encrypted details on your smart phone, Artificial Intelligence (AI) is something we can no longer ignore and in some cases, we can’t imagine living without it.

AI is making a huge difference in digital banking solutions; and beyond that, in consumers’ everyday lives. For countless businesses worldwide, AI is fundamental to their operations.

Straight-through processing (STP), powered by artificial intelligence (AI) and machine learning (ML), isn’t just going to take the manual element out of loan applications. It’s going to help us turn open banking into an opportunity, it’s going to personalise customer interactions and shape banking strategy well into the future.

Whether it is personalised content on your social media feeds, instructing Alexa to change the song or using FaceID to gain access to encrypted details on your smart phone, Artificial Intelligence (AI) is something we can no longer ignore and in some cases, we can’t imagine living without it.