Hippodrome Experts Panel: 2024 Predictions

Finopotamus has assembled a panel of experts in a recurring series, The Hippodrome Experts Panel. Each month, we ask the panel a relevant technology question and share their informative responses. To kick off the new year, we asked our experts for their 2024 fintech predictions. Respondents are presented in alphabetical order by company name. The names below are hyperlinked for your convenience.

This article includes responses from:

• Landon Glenn, CEO, ASA
• Paula Beck, Channel Solutions Executive, Avivatech LLC
• Manish Gupta, Founder & CEO, Corridor Platforms
• Philip Paul, CEO, Cotribute
• Kirk Drake, CEO and Co-Founder, CU 2.0
• Simon Marchand, Vice President, Fraud & Risk Strategy, Geocomply
• Rick DeLisi, Lead Research Analyst, Glia
• Griffin McGahey, President, HC3
• Jerry Young, CEO, ieDigital
• Shanon McLachlan, President of Credit Union Solutions, Jack Henry
• Cody Willis, Integration Strategist, Kinective
• Pete Major, Vice President of Fintech Solutions, Member Driven Technologies
• Stuart Mackinnon, COO, NCR Atleos
• Doug Brown, President of Digital Banking, NCR Voyix
• Bob Child, COO, Origence
• Kristiane Mandraki, Vice President of Growth, Praxent
• Vladimir Jovanovic, Vice President of Innovation, PSCU
• Dr. Kathy Snider, Senior Vice President, Group Product Manager, PSCU/Co-op Solutions
• Will Bryant, COO and Co-Founder, Quantalytix
• Jim Van Dyke, Senior Principal, TransUnion
• Baron Conway, Senior Vice President of Client Relations, TruStage Digital Storefront
• Brian Kaas, President and Managing Director, TruStage Ventures
• Barry Kirby, Co-Founder and CRO, Union Credit
• Darron Dunn, CSO, ViClarity
• Scott Earwood, Director of Community Solutions, White Clay

Will Bryant, Chief Operating Officer and Co-Founder, Quantalytix

2024 will see a continued convergence of artificial intelligence (AI) and regulatory frameworks. The seismic shift experienced in 2023 highlighted the significance of AI in reshaping the fintech landscape globally. In the coming year, I foresee a heightened emphasis on responsible AI implementation and the formulation of comprehensive regulations.

The frenetic race to integrate AI into business roadmaps will likely persist, but with a greater focus on ensuring ethical and transparent practices. As legislators grapple with the civil impact of AI, we anticipate the development of clearer rules and regulations. This regulatory framework will play a pivotal role in fostering innovation while addressing societal concerns, striking a delicate balance between technological advancement and responsible use.

Additionally, the trajectory of cryptocurrencies will remain a key focus in 2024. The continued rise observed in 2023 prompted widespread discussions and contests within the financial technology sector. However, the year ahead may witness a more discerning approach as the industry consolidates. Companies will need to navigate the evolving landscape, considering the sustainability of concepts and initiatives in the cryptocurrency space.

There is a need for strategic foresight and adaptability now more than ever. As AI and cryptocurrencies reshape the industry, success will hinge on our ability to embrace innovation responsibly, navigate regulatory complexities, and make informed decisions that position our organization at the forefront of this dynamic and transformative era in fintech."

"From a technology perspective, AI and more AI talk and probably some acceleration in deployment for Credit Unions. Fintechs will continue to grow and hopefully more adoption will come albeit prudently and carefully. Cloud migrations will also continue.

Then there is cyber fraud. Cybersecurity and fraud management demand more vigilance than ever.

Consolidation continues as we are witnessing with major associations and some key processors. It will be interesting to see how the PSCU CO-OP merger will evolve, which should go well, under the management in charge of it.

Refreshing to see one of the major legacy core providers evolving nicely. However it is sad and concerning to see another struggling at this time. And finally we have a new entrant into the core space that is starting to show some promise. They have background in our space so that will help a great deal.

Get ready to suit up. Here we go again!

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To access the full article, see below:

https://www.finopotamus.com/post/hippodrome-experts-panel-2024-predictions

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