Companies throughout the financial services industry are engaged in massive changes on the technology front -- they're embracing mobile systems, social media, real-time processing and more. The smart ones see the shifts as ripe opportunities for business growth and they're preparing their IT staffs to step into these new arenas, armed with specialized training and career support.
The advent of mobile payment systems, including tools based on near-field communications technology as well as old-fashioned bar codes, is expected to transform the industry. Yet progress means overcoming obstacles, including U.S. consumers' concerns about security. Experts say the rate of NFC adoption will be further slowed by the fact that banks, IT vendors and wireless carriers are creating competing alliances and vying with one another to partner with third parties like retailers and transit agencies. But everyone agrees that change is coming, as faster and more feature-rich smartphones keep hitting the market, and as consumers grow more interested in making payments using smartphones and tablets.