6 Modern Trends in the Finance World

Crisis is a period of old foundations crumbling while new ones are built. Constant updating and development is performed due to the fact that more advanced models enable new players to settle in the market.

Crysis Recent gaining popularity motivating picture that flashes often at various conferences is the image of the Chinese character for the word "crisis" composed of two separate characters "opportunity" and "danger". Eastern experts reflect the essence of the crisis and motivate their Western counterparts using it.

What current trends in the financial sector young, developing professionals need to draw on?

1. Full transition to cashless transfers - since 2008 people have begun to give up the cash and prefer to pay with bank cards or electronic purses (the proportion increased to 27%) for purchases. It is safe, simple, convenient and profitable, moreover it is possible to receive bonuses and cashback from any purchases, which is the major motivator.

Сash payments are substituted with the mobile devices (e-wallets, mobile banking and NFC) services that have built-in biometric identification. Further introduction of cashless technology opens up prospects for development in the field of biometric identification, the production of special equipment for contactless payments, as well as the development of new software (designed for electronic wallets and mobile banking) and intermediary services engaged in payments software development.

2. Insurance with a human face requires a fundamental change in the insurance business. Due to consolidation of companies, creation of individual insurance packages that combine insurance of life, property and so on, as well as the specialization in the homogeneous audience of clients, the industry will be able to reach a new level and offer a better product. This creates prerequisites for development in the field of work with huge data arrays (clients database) and its populating from external sources as well as marketing research.

3. The participation of insurance companies in the clients' lives - Currently, the emphasis is placed on partnership between the customer and the company, in this case, the first will protect their own risks, and the second will get a predictable customer. Increased role of monitoring through car telemetry that provides information about speed, pressure, as well as compliance with traffic rules and technical inspection of the vehicle to user as well as continuous monitoring of the physical condition and sensors to ensure premises safety (devices that monitor temperature, water and smoke). This will influence the development of sensors for cars and houses production and installation along with devices that control human health and compatible systems that process data.


4. Investment projects alternatives - statistics show that people generally have assets in bank deposits, and only a few of them make investments, therefore, the trend is to call the interest in investment from the side of general public. The creation of the popular «IPO» can become a part of this, because it will attract both private investors and crowdfunding. The best aggregators of projects alongwith audit and projects rating software developers for investors and projects interaction platforms would be ble to take a benefit.

5. Personal finances and client investment management - it requires constant and active control of personal finances. This trend may be shaped through the development of individual financial matters counseling and personal finance management system, including the provision of opportunities to enter stock markets. It may lead to the creation of personal money management, counseling systems and services that will recommend the best brokers and stock exchanges, financial solutions and products.

6. Customization of client relations - it is assumed that the large companies should pursue their clients and get to know them. The so-called Product Management service aims to build it from the client's objectives, as well as to produce financial products for a specific client. Introduction of CRM-systems and marketing research of customer preferences will be developed rapidly.