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Report Link: Consult Hyperion’s Live 5 for 2024 – Consult Hyperion (chyp.com)
This is a blog post rather than a brochure download. Consult Hyperion (CHYP) are a highly respected, well established consulting firm having delivered projects globally and regularly turned to by the large schemes for their expertise.
As such their annual forecast is always worth a read. The highlights often take a huge leap and often the predictions are accurate in the sense that the idea starts to shape somewhere globally rather than become a fully embraced change. Within this context, the trends CHYP highlight are:
- Open Banking in the USA: the size and scale of the market with the finally arrived capability will likely start slowly in adoption like most other markets experienced but will increasingly accelerate.
- Smart Wallets Providing Control Without Complexity: the future of identity is credential based, and a smart, intelligent wallet will be needed by customers, but who will provide this trusted wallet?
- Mobile Driver’s Licences (mDLs) for Online Use Cases: an interesting idea whilst we wait for smart wallets. The standards that govern these align with the EU Digital Wallet standards and rather interestingly part 7 of the ISO standard addresses how mDLs can be used in online transactions. The potential this offers is enormous.
- Machine Customers Turning the Tables on Business: Imagine if you could turn the chatbot tables – with your own bot acting on your behalf, making decisions for you. For organisations that provide service to customers there is a lot to think about – including change to the relationship with the customer and whether there is an opportunity to provide the automation capabilities.
- Confidential Computing Providing Trust at Scale: Confidential computing is a privacy-enhancing technology (trusted execution environments) and enables secure computation at scale, which is essential to build trust in the future digital world.
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