Over the past few years, there has been a growing interest in both Blockchain technology and cryptocurrency markets, which the financial regulatory authorities of developed countries have struggled to respond to. As high-speed mobile access to the internet is now available in even the most remote areas worldwide, the banking market has expanded and is now challenging traditional approaches. The rapidly increasing use of sensors, machine learning and Big Data is changing approaches to asset-based risk assessment, as organizations overhaul traditional management structures, reducing both the number of employees and labour costs, while increasing productivity.
How can the traditional banking system adapt to constantly changing market demands? What transformations might the banking system undergo in the coming years? To what extent, and how quickly must the banking system be transformed in order to take full advantage of future opportunities?