How technology is shaping the future of financial services

At Credit Week last week, one message was clear: financial service firms need to be nimble and ready to adapt to any situation. Why? From global economic shifts to the rapid evolution of digital technologies and the rise of AI, the industry is in a state of continuous transformation.

Add to that the growing demand for seamless, personalised customer experiences, increasingly complex compliance requirements, and the overwhelming volume of data businesses must manage—and it’s no surprise that many are feeling mounting pressure.

While this can create uncertainty, it also opens the door to opportunity —especially for those businesses willing to embrace innovation. In fact, many businesses are starting to fundamentally rethink how they operate to succeed and drive sustainable growth.

At the heart of this is a renewed focus on how data, technology, and analytics are being used—not just adopting the latest tools, but making smart, strategic choices that align with long-term goals. That means being clear about which technologies will deliver real value for both the business and its customers. Beyond the technology itself, leaders are also considering whether they have the right internal capabilities and a tech-driven culture in place.

When it comes to what technology to focus on, three technology trends stood out in a recent survey of our clients: automation, cloud adoption, and integrated solutions.

Most businesses are already on an automation journey—moving away from manual processes like underwriting and embracing machine learning to accelerate operations and improve accuracy.

Cloud-based solutions are also gaining traction, as companies look to simplify their tech stacks and scale more efficiently. It's all about a focus on flexibility, speed, and future-proofing.

One particularly striking insight: more than half of respondents said they prefer all-in-one solutions. Managing multiple vendors is increasingly seen as inefficient and complex. What businesses want is simplicity—an integrated ecosystem that can bring everything together in one place.

That’s exactly why we built the Experian Ascend Platform. It brings together all of Experian’s capabilities—data, analytics, decisioning, fraud, and identity solutions—into one powerful, cloud-based ecosystem.

Ultimately, the pace of change in financial services isn’t slowing—but with the right focus, it doesn’t have to be overwhelming. By investing in the right technologies, building trust in data, and fostering a culture that’s ready to adapt, businesses can turn complexity into clarity—and position themselves to lead in the years ahead.