Consult Hyperion (CHYP): Consult Hyperion five forecasts for 2024

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:

1. 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.
2. 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?
3. 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.
4. 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.
5. 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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