2024 Trends & Predictions: Tech & Infrastructure

The past decade has seen sweeping changes to payments technology and infrastructure. Much of the focus in this era of rapid innovation has been on the transformation of the front office—new ways for financial services providers to deliver payments, and novel modes for consumers to access and move their money. But the changes were not limited to what bank customers could see; shifts in technology and infrastructure hit the middle and back offices as well. While not as visible, these advances were just as important to the future of banking and payments.

The advice from Javelin Strategy & Research for 2024—and it’s good news for fans of change and disruption—is that technology shifts are not slowing. What’s more, the environment in which they are occurring will make planning investments and strategies even more complex. The impact of a rapidly shifting economy, increased competition, heightened regulatory scrutiny, and changing customer expectations will create a perfect storm for technology leaders at FIs as they plan for the coming year.