Martin Tillisch, a financial sector expert at PA Consulting Group, is quoted in a 2018 prediction article in Finanswatch talking about what digital and technological trends will disrupt the sector in the coming year. The article highlights key trends like cryptocurrencies, although it believes the overarching theme for 2018 will be an increase in broader collaboration within the sector.
Martin sees a need for more collaboration between all participants due to the increasing regulatory demands being placed upon the sector.
Financial companies will most likely keep key areas like customer experience and customer interface to themselves and work together in business areas where they are required to meet minimum standards and are able to use new technologies to bring down investment and development costs.
Martin goes on to predict that new fintech players will finally have their breakthrough within the sector.
"For years fintechs have been a promising area but we have not yet seen any major disruption. I think this will finally happen in 2018, most notably within areas such as payments, regtech or investment," says Martin.
Martin adds: "We are seeing an increased maturity in the fintech market both in the Nordics and in Denmark, with the trade association Copenhagen Fintech and some of their members reaching that level of maturity. At the same time the Danish FSA is making it easier for fintechs to pass through the system and this will help make 2018 the year when new fintech companies will emerge to disrupt the financial sector.”