The financial services industry is dealing with a number of business opportunities and challenges in the deployment of technologies that will have significant impact on business models in banking, insurance, and capital markets. Many overlap and/or will affect other initiatives, so careful planning will be necessary. This list is a high-level representation of technology topics and research tracked by the global analyst team at IDC Financial Insights and represents a high-level categorization of the top technology and business trends affecting projects and investments.

Key Takeaways

• Artificial intelligence (AI), machine learning (ML), and generative AI (GenAI) have gained great interest and investments in financial services, sometimes to the detriment of other initiatives.

• Environmental, social, and governance (ESG) programs are becoming increasingly important in financial institutions, with a focus on sustainability and responsible finance added to carbon impact.

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• Fraud, risk, and compliance continue to be major drivers of technology investments, with institutions needing to improve their ability to manage risks and comply with complex regulations.