5 Trends to Watch in Banking Technology in 2018

At a time when financial industry analysts are seriously debating whether Amazon will get into banking, it's clear the banking market is in a state of flux when it comes to technology. Of course, mobile banking is nothing new, but it is now a "table stakes" experience, especially for younger bank customers, meaning it is a bare minimum all banks must now meet. If a bank does not have a solid mobile app, they are an also-ran, industry experts and analysts say. That way of thinking will soon apply to lots of new and emerging technologies, as banks strive to keep pace with the likes of Apple, which earlier this month introduced Apple Pay Cash, allowing customers to send and receive money via Apple Pay. "The big decision-makers are really leaning on the idea of, 'Mobile technology is taking over and there is a digital-first movement that is taking hold in the marketplace,'" says Chris George, senior vice president of client strategy at NYMBUS, a core banking modernization company.