The banking industry is looking to achieve strong customer authentication, consent and reliability as required by PSD2, Open Banking and GDPR.
European mobile banking unicorns, like the Thiel-backed N26, are heading stateside. Regulation and competition from U.S. banks may well hobble them.
Forecasts issued by Frost & Sullivan suggested that the market of mobile payments services in China will grow at a compound annual growth rate (CAGR) of 21.8 percent from 2017 to 2023, growing three-fold from US$29.93 trillion to US$96.73 trillion.
Natural language generation and understanding are also being added to the mix to absorb raw information in large datasets, understand and detect trends and correlations as well as identify inferences, risks or investment opportunities.