1、1Economist Impact 2022As payments,technology and e-commerce disrupters cut banks out of the equation with embedded finance solutions,banks must harness emerging technologies to create their own digital ecosystems and remain at the centre of the banking universe.New technologies will have the biggest

2、 impact on banks in the next five yearsmore than changing customer demand and evolving regulation.Generative artificial intelligence(AI)in particular is expected to impact banking,according to 75%of respondents to a survey conducted by Economist Impact.More than 70%of survey respondents see unlockin

3、g value from AI as a key differentiator between winners and losers.Collaboration with fintechs or other technology providers is key to access expertise in emerging technologies as open-banking initiatives multiply across the world.Banks see their business model evolving in the next 12-24 months,offe

4、ring banking-as-a-service to brands and fintechs,and enabling embedded finance within their own products and services79%of survey respondents agree that banking will become“embedded”in consumers lives and businesses value chains.Nearly two-in-five banks(38%)foresee acting as a true digital ecosystem

5、 offering own and third-party banking and non-banking products and services.Improving personalised and embedded customer experiences remains a top strategic priority.Three-quarters of survey respondents agree that banks will seek to differentiate on customer experience rather than products in the ne

6、xt five years.Customer centricity is driving banks to offer more embedded environment,social and governance(ESG)propositions to their customers(73%),as well as providing capital to environmentally friendly projects(74%).With the focus on lowering their carbon footprint,as well as the increasing use