Mercator Advisory Group reckons the prying open of financial data vaults (PSD2, Open Banking) remains on track to take place in Europe and the U.K. early next year has spurred much of this interest. The legislation effectually creates widely accessible consumer data pools that will need to be leveraged by market participants in order to make timely and relevant offers and thereby deliver value to consumers.
As the IT services industry foresees a shift in business towards digital and services delivery through technologies such as cloud, more professionals within the sector look to gain new skills in digital technology-based projects.
The modernization of economies in Asia has generated even greater need for adept understanding and use of these growing consumer data pools to facilitate the generation of products and services that resonate with consumer sets, in additional to the expanded need in the western economies served by IT expertise in Asia. We recognize the investments China has made encouraging the development of machine learning has been in anticipation of this inundation of available consumer financial data.
Overview by Joseph Walent, Associate Director, Customer Interactions Advisory Service at Mercator Advisory Group
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