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S5
be shaped by new technologies, but
also by how readily they’re accepted
and embraced by the consumers and
businesses that use them.
“As data has become more im-
portant and, in fact, the primary value
driver, the ethical and secure use of data
can make or break companies,” Kalita
says. “ There have been companies that
have played fast and free with their data
but are now getting pushback on big
initiatives, because they burned through
public trust. There needs to be an indus-
try conversation about trust and what
standards businesses will follow. This
will require transparency and foresight
to think beyond how data is used today.”
Customers will also expect continu-
ous improvements to how they move
and manage their money as years go by.
“ The future of money is about
expanding access to better and more
cost-eff ective products and services,”
Kalita says. “ The defi nition of what is
‘better’ changes with the economy. As
an example, as people spend more time
online, the defi nitions of ‘convenience,’
‘security,’ and ‘cool’ have changed.
Money needs to be in step with these
changes and even help potentially lead
these changes.”
Whatever the industry comes up
with next, Kalita says it likely will have
seemed inconceivable just a few years
ago. “Tomorrow’s products and services
will make yesterday’s science fi ction into
reality,” he says.
And to develop this new reality, the
industry will need to continue to work
toge t her.
“I’m personally excited by how
fi nancial technology has gone from an
integrated ‘black box’ model to one that
is more like an app store, where you can
easily integrate best-in-class solutions.
Technologies like cloud, APIs [applica-
tion programming interfaces], and
microservices in tandem with things like
A.I. and blockchain could be transfor-
mational,” Kalita continues. “I’ve found
that the best results happen when you
combine strengths to solve customer
problems.” ■
“Tomorrow’s products and services
will make yesterday’s science
fi ction into reality.”
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