Looking into the crystal ball

THIS WEEK'S TOPIC: Two predictions for 2020 (in business/industry or global affairs): - one that you wish to see fulfilled - the other that you hope will not materialise

Dan McConaghy President FICO in Asia Pacific

I think that 2020 is the year of the digital-only banks in Asia. The market conditions, technology and regulation are all converging to create opportunities for established banks and new players to serve customers entirely on their smartphones. I predict we will see a lot of clever authentication and identity proofing technologies deliver on the promise of being able to open an account and transact without walking into a bank, while satisfying rigorous anti-money laundering and know-your-customer laws.