Trends That Will Impact the Finance Industry 2019 – 2020 and Beyond
It is undeniable that the pace of technological advancement is the major force behind the changes happening in the global financial services industry (FSI). Financial institutions are left with no choice but to adapt their business models accordingly to remain competitive in the markets they operate.
FSI outlook reports for 2019 to 2020 and beyond by two top financial consulting firms in the world, PwC and Deloitte, show that FinTech, digitization of operations, data analytics, client self-service, and blockchain are the most likely sources of disruptions in the financial services industry over the next two years. This article captures the real-world implications of these changes and provides insight on how organizations can prepare to win in the increasingly dynamic playing field.
FinTech to Steer the new Business Model
Today, there is nothing more disruptive in finance than FinTech. Using service-oriented innovative technology, FinTech start-ups have finally become the unopposable tools for breaking into financial services. A recent Global FinTech Survey by PwC showed that traditional players are worried of losing about 25% of their business to standalone FinTech start-ups within the next 5 years.
In a smart move to remain competent in the industry, incumbents are smartly embracing disruptions. Large to small financial institutions have come to the realization that it is no longer about integrating technology into business operations but using financial technology as a central facet of new business models.
Analytics: Key Decision-making Tool
Data has never been more critical to businesses like it is today. Data analytics combined with artificial intelligence and machine learning will be key technological trendsetters for the financial services industry in 2019 and beyond.
Business analytics is continually becoming an essential tool for truly transforming financial institutions into data-driven organizations. Financial institutions are expected to invest in technologies surrounding data analytics to realize the massive power of data on hand and that which they can collect (big data). 2019 and 2020 will therefore witness massive increase in data utilization by these institutions. Even institutions that offer products for Forex trading for beginners are keen to use advanced data utilization technologies to ensure that their customers are able to make profitable Forex trades from the onset of their careers.
Retail banking, payments, insurance, and wealth management are areas in which digitization of operations is already taking place at great lengths industry-wide. With internet development and continuous technological advancement, financial institutions are putting more investments into digitization of more and more business operations to achieve more efficiency.
The e-commerce way of doing things has become the new normal in financial services. This is evidenced by the tendency by financial organizations to transform traditional operational units into e-business units. This trend has also caught pace in financial regulatory institutions.
Shift to Client Self-service and Increasing Value of Customer Intelligence
Delivering superior client experience is one of the major competition grounds for banks, insurance companies and investment management firms. Every other day, these organizations are looking for new technologies to provide more relevant services to their clients and in the most seamless ways. Self-service platforms are especially growing in popularity.
As services become digitized, financial institutions are keen to provide technology-based solutions that add value and enhance client experience. It is no longer just increase the number of self-service functionalities.
Of critical importance is making sure that technological capabilities being developed are customer-intelligent. Customer intelligence deals with how an organization interacts with its customer as it seeks to meet the client’s needs. Being customer intelligent is a key trend that will potentially drive FSI revenue and profitability going forward.
Blockchain Will Become an Integral Part of Financial Institutions
Just recently, one of the world’s biggest banks, HSBC, reported how using a blockchain-based system enabled it to make significant cost savings on Forex transactions. It is evident that blockchain has started shaking things up in financial services. There is a surge in funding and innovation in FinTech and blockchain. There are convincing signs that the use of blockchain is likely to become a crucial part of financial institutions’ operational and technological infrastructure.
Adaptability: How to Win in Financial Services
Future winners in FSI are institutions that can envision and execute initiatives at a faster pace than the speed of change. The institution must have an evolving mindset and culture to enable it acquire the right talent and capabilities that will help to develop flexibility and innovativeness. It must also be prepared to invest adequately in securing its brand as a technology leader among its competitors. This is the only way to gain sustainable growth in the increasingly digital future.
Members of the 2020 Dietary Guidelines Advisory Committee Announced
Scientific Experts Will Review Scientific Evidence on Key Nutrition Topics To Inform Development of New Guidelines
To ensure America’s dietary guidance reflects the latest science, U.S. Secretary of Agriculture Sonny Perdue and U.S. Health and Human Services (HHS) Secretary Alex Azar today announced the appointment of 20 nationally recognized scientists to serve on the 2020 Dietary Guidelines Advisory Committee. The independent advisory committee will review scientific evidence on topics and questions identified by the departments and will provide a report on their findings to the secretaries. Their review, along with public and agency comments, will help inform USDA and HHS’ development of the 2020-2025 Dietary Guidelines for Americans (DGAs).
“USDA is committed to ensuring everything we do is data-driven and based in scientific facts, which is why this expert committee’s work in objectively evaluating the science is of the utmost importance to the departments and to this process,” said Secretary Perdue. “The committee will evaluate existing research and develop a report objectively, with an open mind.”
“The scientists we selected to serve on the committee are national leaders in the areas of nutrition and health,” said HHS Secretary Alex Azar. “HHS, USDA, and all Americans will benefit from the collective experience and expertise of the committee, which will conduct a rigorous examination of the scientific evidence on several diet-related health outcomes, including the prevention of cancer, type 2 diabetes, and cardiovascular disease, which are three of the leading causes of death in the United States.”
The list of members appointed to the expert committee can be found here.
The committee’s work will kick off at a public meeting to be announced in the coming weeks. The committee will review scientific evidence on specific nutrition and health related topics and scientific questions that, for the first time, reflect both public comments and federal agency input. Throughout their deliberations, the public and other stakeholders will be encouraged to provide comments and feedback.
“In our continuing commitment to transparency and customer service, we invite the American public to engage in this process,” said Secretary Perdue. “We want to hear from everyone and all viewpoints. I encourage everyone with an interest to attend public meetings and to send comments through the Federal Register once the committee begins their work.”
The next edition of the Dietary Guidelines for Americans will continue to focus on dietary patterns of what Americans eat and drink as a whole, on average and over time, to help prevent disease and keep people healthy. Additionally, the review process will take a life-stage approach and will, for the first time, include pregnant women and children from birth to 24 months as mandated by the 2014 Farm Bill.
The Dietary Guidelines for Americans are updated every five years and serve as the cornerstone of federal nutrition programs and policies, providing food-based recommendations to help prevent diet-related chronic diseases and promote overall health.
USDA’s Food and Nutrition Service (FNS) works to reduce food insecurity and promote nutritious diets among the American people. The agency administers 15 nutrition assistance programs that leverage America’s agricultural abundance to ensure children and low-income individuals and families have nutritious food to eat. FNS also co-develops the Dietary Guidelines for Americans, which provides science-based nutrition recommendations and serves as the cornerstone of federal nutrition policy. For information and links, go to DietaryGuidelines.gov.
The HHS Office of Disease Prevention and Health Promotion (ODPHP) provides leadership for disease prevention and health promotion initiatives on behalf of the HHS Secretary and as part of the HHS Office of the Assistant Secretary for Health. ODPHP co-develops the Dietary Guidelines for Americans with USDA and leads the development of Physical Activity Guidelines for Americans. ODPHP also leads the Healthy People initiative, which sets evidence-based, 10-year national goals and objectives for improving the health of all Americans.
Land Rover North America today announced something to celebrate in the New Year, the next-generation Land Rover Defender will be offered for sale in both the U.S. and Canada, starting in 2020.
Testing of the new vehicle is already underway around the world with the first development mules and prototypes reaching North American shores earlier this month. Testing on the continent provides valuable data to engineers given the wide variety of terrain and surfaces available in America. Engineers will subject the vehicle to rigorous test extremes to make sure the new Defender is the most off-road capable Land Rover vehicle ever; operating in temperatures from -40F to +120F while driving the test vehicles on- and off-road at altitudes of more than 13,000 feet above sea level.
“There are a handful of automobiles that are beloved around the world and stand for a brand, a country and a distinct way of life. The Land Rover Defender is such a singular vehicle,” said Kim McCullough, Vice President of Marketing for Jaguar Land Rover North America. “On behalf of Land Rover and our retailers, we are proud to announce the voices of American and Canadian customers has been heard: The all new Defender will be for sale here starting in 2020. This announcement is a holiday gift to our Defender fans in North America and a hint of what’s to come in the New Year.”
Series Land Rover vehicles have garnered a cult-like following for both their iconic design and reputation for rugged go-anywhere utility, making them among the world’s most capable off-road vehicles. In the time since they were sold in the U.S. and Canada, “NAS-Spec” Defender vehicles have appreciated in value significantly and are widely sought after as collectors’ items for both off-road enthusiasts and those who appreciate the design aesthetic of the vehicle.
The Series Land Rover vehicles haven’t changed much since the idea for the first model was dreamed up shortly after World War II by the Wilks brothers on the shores of Red Wharf Bay, Wales, more than 70 years ago. With each successive design – from the Series 1, 2, and 3 Land Rover vehicles, to the later “Defender” branded vehicles – changes were largely evolutionary, rather than revolutionary.
Even the design of the previous generation Defender remained largely unchanged for the 33 years it was produced. Instantly recognizable by its rugged squared-off exterior, round headlights and signature rear-mounted spare tire, the Defender and all Series Land Rover vehicles have been lauded the world over; driven by farmers, military and police, celebrities, and even royalty. By one measure, it’s estimated that a Series Land Rover was the first automobile many of the world’s population ever saw in person.
With an all-new exterior and interior design, as well as a suite of the latest driver assistance and connectivity features available, the next-generation Defender will be a revolutionary product for Land Rover with even broader public appeal. When it debuts in 2019, the new model will represent 70 years of innovation and improvement in just one model year; honoring the model’s history for rugged durability, while thoroughly remaining a Defender for the 21st century.
All will be revealed in 2019.
JAPANESE CITIES OF TOKYO, KYOTO AND OSAKA RECOGNIZED WITH CONDÉ NAST TRAVELER’S 2018 READERS’ CHOICE AWARD
Condé Nast Traveler magazine today announced the results of its 31st annual Readers’ Choice Awards, including the “The Best Cities in the World: Best Big Cities” list, featuring the Japanese cities of Tokyo, Kyoto and Osaka ranked as #1, #2, and #12, respectively.
“This wonderful recognition of three of Japan’s most prominent cities demonstrates the continued interest in Japan as a top destination among North American travelers,” stated Naohito Ise, Executive Director of the New York Office of the Japan National Tourism Organization (JNTO). “JNTO will continue to work to inspire travelers to visit even more destinations throughout the country, both within these popular cities as well as to more lesser-known regions.”
The Condé Nast Traveler Readers’ Choice Awards are the longest-running and most prestigious recognition of excellence in the travel industry and are commonly known as “the best of the best of travel.”
One of the most popular cities in the world, Japan’s capital city of Tokyo is a thriving center of culture and the hub of innovation where visitors travel with endless opportunities for diverse activities. In June 2018, Tokyo saw the opening of the world’s first digital museum, the MORI Building DIGITAL ART MUSEUM, bringing three-dimensional art to life in collaboration with renowned art collective group teamLab. On October 11, 2018, Tokyo’s world-famous 80-year-old Tsukiji Market will move into an entirely new space in Toyosu.
Two hours via bullet train from Tokyo, Kyoto, the former capital of Japan, offers rich history throughout the city and continues to be a favorite destination among travelers. In 2019, Kyoto will welcome many highly anticipated hotel openings, including the Ace Hotel and the Park Hyatt Kyoto. Even more, in June 2018, Kyoto City Tourism Association launched a new multi-language service to make restaurant bookings easier for incoming travelers, allowing tourists to make reservations and prepay at restaurants in Kyoto.
The second largest metropolitan area in Japan, Osaka offers modern attractions and classic landmarks throughout the region. Home to Osaka Castle, Shitennoji Temple, Universal Studios Japan, a rich local food scene and abundant nightlife offerings, Osaka has something for every traveler.
The results of the Readers’ Choice Awards will be published in the November 2018 issue of Condé Nast Traveler, on newsstands nationwide on October 16, 2018. The full list is available online at www.CNTraveler.com/rca.
ABOUT JAPAN NATIONAL TOURISM ORGANIZATION (JNTO):
As the official tourism board of Japan, JNTO is involved in a wide range of promotional activities to encourage international travelers to visit Japan. Through a variety of campaigns and initiatives, JNTO is inspiring more American travelers to visit Tokyo, Kyoto and beyond, and is raising awareness of Japan.
About Condé Nast Traveler
As the most discerning, up-to-the-minute voice in all things travel, Condé Nast Traveler is the global citizen’s bible and muse, offering both inspiration and vital intel. Condé Nast Traveler is the most trusted and celebrated name in travel with 6 National Magazine Award wins and 26 nominations in its 30-year history. www.cntraveler.com
Koshien Stadium (Photo by Joshua Mellin)
Considered by many to be Japan’s most popular sport, baseball was first introduced to the Japanese as a prep-school game by an American schoolteacher in the 1870s. Today, both Japan’s professional and high school leagues (or K d;shien) are extremely popular, drawing millions of fans from around the country. Japan’s Nippon Professional Baseball league has even been compared to the United States’ Major League; the league’s reigning champions, the Tokyo-based Yomiuri Giants, have been nicknamed “The New York Yankees of Japan.” The 2018 Nippon Professional Baseball series begins on October 27th and will take place in one of the many stadiums surrounding Tokyo. For more information and schedules, click here.
BRAVO MEDIA RENEWS MULTI-TIERED DEAL WITH LATE NIGHT TALK SHOW HOST AND EMMY™ AWARD-WINNING PRODUCER ANDY COHEN THROUGH 2020
Mazel all around! Bravo Media has signed a three year multi-tiered deal with late night talk show host and Emmy™ award-winning producer Andy Cohen, it was announced today by Frances Berwick, President, Lifestyle Networks, NBCUniversal Cable Entertainment. The deal, which extends through 2020, includes 3 more years of Cohen as host and executive producer of the only live late night talk show, “Watch What Happens Live with Andy Cohen,” a renewed first-look development deal with Cohen’s production company, Most Talkative, and his continuing as executive producer of the successful “Real Housewives” franchise as well as hosting reunions and specials.
“Andy is a creative multi-hyphenate dynamo, who through his cheeky charm, fascination and fandom, makes you want to hang out with him – either on the seat next to him or on the screen in front of you,” said Berwick. “He’s an integral part of the Bravo family and brand and we can’t wait to see where he takes ‘Watch What Happens Live with Andy Cohen’ next.”
“This is the show I have dreamt about hosting all my life and it’s as fun today as when we started over eight years ago,” said host and executive producer Andy Cohen. “Thanks to Bravo for supplying the booze to throw three more years of great parties!”
As host and executive producer of “Watch What Happens Live with Andy Cohen,” Cohen continues to go there–challenging both celebrities and Bravolebrities on the most interactive show in late-night television. The show also offers fans an unprecedented opportunity to interact with their favorite celebrities in real time whether calling in to ask questions or weighing in via live polls. “Watch What Happens Live with Andy Cohen” is consistently making headlines with revealing interviews viewers don’t see anywhere else, and because of this, the Bravo Clubhouse has become a nightly destination for some of the biggest names in pop culture. Whether “Pleading the Fifth,” “Opening The Vault,” or taking shots from the shotski, countless memorable moments have been created during the show’s eight year tenure. Guests this month include Kate Hudson, Will Ferrell, Gayle King, Macklemore, Kandi Burruss, John Mayer and Leslie Odom Jr.
This year has been a pivotal for the series. In 2017, the title of the show changed to “Watch What Happens Live with Andy Cohen,” (formerly “Watch What Happens Live”) and the series traveled to Los Angeles for the first time ever with a week of star-studded shows. In New York, the talk show moved into a larger, newly renovated Bravo Clubhouse that is better equipped to handle the interactive nature of the series while also doubling the size of its live audience.
“Watch What Happens Live with Andy Cohen” recently launched its own podcast! Fans can subscribe to hear every episode plus the live after show and exclusive behind-the-scenes content. To subscribe, click here.
“Watch What Happens Live with Andy Cohen” is the #1 late night ad-supported cable talk show of 2017 among F25-54.
Source: Nielsen, L7. 13 Late Night (11P-1A) Ad-supported cable talk shows: Talking w/ Chris Hardwick (AMC), Animal Nation (Animal Planet), Graham Norton Show (BBCA), WWHL, Daily Show (Comedy Central), At Midnight (Comedy Central), The Barstool Rundown (Comedy Central), Problematic (Comedy Central), The President Show (Comedy Central), World Star TV (MTV), Adam Carolla and Friends (Spike), Conan (TBS), and Desus & Mero (Viceland).
About Bravo Media:
Bravo Media is the premier lifestyle and entertainment brand that drives cultural conversation around its high-quality, interactive original content focusing on the network’s passion points of food, fashion, beauty, design, digital, and pop culture. The network’s diversified slate includes Bravo’s scripted series “Girlfriends’ Guide to Divorce,” “Imposters,” and “Odd Mom Out,” in addition to unscripted favorites such as Emmy Award-winning “Top Chef,” “Vanderpump Rules,” “Below Deck,” “Southern Charm,” and the popular “Million Dollar Listing” and “The Real Housewives” franchises, as well as the only live late-night talk show, “Watch What Happens Live with Andy Cohen.” Available in 87 million homes, Bravo is a program service of NBCUniversal Cable Entertainment, a division of NBCUniversal, one of the world’s leading media and entertainment companies in the development, production, and marketing of entertainment, news, and information to a global audience. Watch Bravo anywhere: on demand, online, or across mobile and connected TVs. Bravo has been an NBCUniversal cable network since December 2002 and first launched in December 1980.
Web video available to embed from YouTube:
From 2020 all new Jaguar Land Rover vehicles will be electrified. The company made the announcement at its inaugural Tech Fest, a series of debates and a free public exhibition about the future of mobility.
Dr Ralf Speth, Jaguar Land Rover Chief Executive Officer, said: “Every new Jaguar Land Rover model line will be electrified from 2020, giving our customers even more choice. We will introduce a portfolio of electrified products across our model range, embracing fully electric, plug-in hybrid and mild hybrid vehicles. Our first fully electric performance SUV, the Jaguar I-PACE, goes on sale next year.”
Jaguar E-type Zero
The electric Jaguar E-type Zero future-proofs one of the world’s most famous cars. Acclaimed by Enzo Ferrari as “the most beautiful car in the world”, the E-type now combines breathtaking design with electric power for the first time. E-type Zero is based on a 1968 Series 1.5 Roadster and features a cutting-edge electric powertrain for 0-60mph in just 5.5sec. It was engineered by Jaguar Classic at the company’s new Classic Works in Warwickshire, UK.
Jaguar I-PACE Concept
With I-PACE we started with a clean sheet and engineered a bespoke, tailored, pure electric SUV from the ground up, creating a beautiful design with everyday practicality. It’s a performance SUV, it looks stunning, is great to drive and will be on sale next year.
The Jaguar FUTURE-TYPE is a vision for the car of 2040 and beyond. The fully autonomous virtual concept explores mobility for the connected world of tomorrow, where vehicles could be shared not owned.