Embedded finance, cryptocurrencies, the Metaverse and DeFi are four innovations most senior executives are zoning in on. Over the next 12 months, around 80% of FI and non-FI executives expect these four trends to affect the way they do business. FIS surveyed 2,000 senior executives in both sectors to find out their views and strategies. Here are the key takeaways. (...) The MetaverseWhile many businesses lost their shirts in 2022, luxury brands such as LVMH, Gucci, and Burberry boosted their sales riding the Web3 NFT wave. It makes sense 85% of senior executives in tech companies believe it will be strategically important to have a presence in the Metaverse. Most FI executives (83%) say that venturing into the so-called “Ether” will improve their brand image and increase their competitive advantage. And 83% of non-financial executives believe it will change their operations, mainly their sales and distribution models. The most popular strategies among FI executives are to build new tech (38%) and hire more skilled people (38%). Non-FI executives will increase their R&D budgets (35%), hire skilled people (29%), and build new technologies (25%). (...) Full story here
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