INNOVATION IN ENTERPRISE TECHNOLOGY
For enterprise technology firms, innovation has never been more important. Even with the threat of an economic downturn, tech firms know that traditional processes will only result in being left behind. To remain future ready, they are increasingly investing in innovations and leveraging technological partnerships that will help them stay resilient, reach new customers and drive growth.
©2023 FIS
FIS and the FIS logo are trademarks or registered trademarks of FIS or its subsidiaries in the U.S. and/or other countries. Other parties’ marks are the property of their respective owners. 2270538
linkedin.com/company/fis
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of executives struggle with data management
About FIS
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our more than 55,000 people are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology
in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a Fortune 500® company and is a member of Standard & Poor’s 500® Index.
Insights on 4 Innovation Trends from the Global Innovation Report 2023
Finding the best route
of executives struggle with data management
Let’s talk
Q: What impact do you expect the following trends to have on your organization over the next 12 months?
In the next three years?
Metaverse
Cryptocurrency
Embedded finance
BNPL
180%
160%
140%
120%
100%
80%
60%
40%
20%
0%
23%
14%
9%
22%
23%
25%
25%
12%
9%
12%
13%
23%
11%
29%
27%
12%
15%
15%
31%
17%
14%
12%
30%
17%
30%
17%
14%
19%
11%
27%
18%
24%
Change sales and/or distribution models
Reduce risk
Increase operating costs
Strengthen customer relationships
Drive revenue
Increase risk
Increase competition
Decrease operating costs
Download the report to explore the full findings. Then, let’s connect to map out your next steps.
LET’S INNOVATE TOGETHER
How will innovation impact your business?
How are early adopters responding?
What’s holding firms back from embracing these innovations?
Which strategies can you deploy to turn innovation to your advantage?
12 months
3 years
The Metaverse Cryptocurrencies Embedded Finance Buy Now Pay Later (BNPL)
84%
77%
83%
84%
81%
74%
84%
86%
Drive loyalty
Protect payments
The best digital payment systems come with the ability to automatically update payment details if policyholders replace their card or switch bank accounts. So, when details change, there’s less chance of losing out on a policy renewal.
High levels of security are another way that digital systems can improve retention. As well as making it easier to comply with data security regulation, tokenization and encryption technologies reduce risk and, again, help increase payment card acceptance.
LESS CHURN
4
3
2
1. The Metaverse
%
0
89
%
said the metaverse is currently
impacting their organization
%
0
89
%
said the metaverse will impact their organization within 3 years
Of firms predicting major or moderate imapct...
%
0
52
%
said the metaverse is currently impacting their organization
%
0
55
%
said the metaverse will impact their organization within 3 years
Of firms predicting major or moderate imapct...
Enterprise technology executives believe the top three impacts of the Metaverse will be strengthened customer relationships, risk reduction, and changing sales and/or distribution models. Moreover, execs who see the Metaverse as having a major impact feel these effects will only increase within the next three years, spurring the need for action.
Enterprise tech impact
Alternative realities, a 3D virtual environment, new digital experiences – for enterprise tech firms, the Metaverse offers opportunities to find new customers and create new products with clients and partners.
Creating new realities
1. The Metaverse
Firms that see a major impact are focused on hiring or partnering for Metaverse expertise to bolster their capabilities and help them navigate the Metaverse ecosystem. To stay on top in the Metaverse landscape, they plan to build and purchase new technology. Expected payoffs include stronger customer relationships, new growth opportunities and increased revenues.
Top actions tech firms are taking
Enterprise tech firms that say the Metaverse will have major impact on their organization
Are currently addressing skills and knowledge gaps
Expect to invest in new technology within 3 years
60%
50%
40%
30%
20%
10%
59%
49%
Key strategies for turning the impacts of the Metaverse to your advantage will be boosting skill sets, finding a partner with the expertise to help build a foundation in the space and investing in new technology.
Capitalizing on the Metaverse
When asked what factors are holding firms back from Metaverse adoption, some potential hurdles were shared by more than a quarter of tech firm respondents. These included concerns about content moderation and behavioral standards (cited by 33%), followed by apprehension over unfamiliar risks (28%) and the prospect of insufficient users on platforms (24%).
What holds some firms back
To quickly understand both the technology and capabilities within the Metaverse, execute internal proofs of concepts and have your
team build out use cases based on your customers' expectations. Then engage directly with the Web3 ecosystem to probe the possibilities.
Tip for Success:
“To move from interest to action in the Metaverse, find ways to place to your brand in various virtual worlds and explore opportunities for transaction-oriented use cases.”
Head of Strategy and New Initiatives, FIS
Himal Makwana
“When times are tough, investing in innovation may seem like a luxury. But innovations offer real opportunities. The first step is to understand how each one can benefit you and your customers. Start by executing internal proofs of concept and building out use cases to explore the technology and its capabilities. For example, when it comes to the Metaverse, find ways to place your brand in various virtual worlds and explore opportunities for more transaction-oriented use cases.”
Keep iterating. Stay agile and competitive by continuing to evaluate the data and making small adjustments.
Tip:
Key strategies for turning the impacts of the Metaverse to your advantage will be boosting skill sets, finding a partner with the expertise to help build a foundation in the space and investing in new technology.
Capitalizing on the Metaverse
Facing a growing regulatory and compliance burden, it will become more important for enterprise tech firms to embrace innovative RegTech solutions. When purchasing technologies, a knowledgeable partner with streamlined, seamless solutions on modernized platforms will be essential in helping firms stay agile as regulations continue to change.
Embracing RegTech Innovation
Have begun investing in new technology
Plan to increase their technology or R&D budgets within 3 years
70%
60%
50%
40%
30%
20%
10%
61%
62%
Enterprise tech firms that expect RegTech to have major impact on their organizations
Well over half of tech firms that predicted a major impact from RegTech are already building and buying new technology in response. Nearly half are also augmenting skills by hiring or seeking partners. Within the next few years, they expect to increase funding for technology or R&D to address RegTech requirements.
Top actions tech firms are taking
SVP, Embedded Finance, B2B & Strategic Innovation, FIS
Taira Hall
“We live in an increasingly hyperconnected digital world where both competitors and innovative technologies are disrupting traditional business models. To succeed, you need to create greater value for your customers and markets in a new, highly differentiated and contextualized way.”
Make sure your strategy and investments are client-centric. Continually listen to your customers to understand their preferences now and in the future.
Tip:
With enterprise tech firms currently prioritizing the filling of knowledge gaps, partnering with an experienced provider will help firms embrace embedded finance with confidence, as well as accelerate time-to-market. The right partner, offering the API technology that powers embedded finance, will also be critical as tech firms invest in new technology.
Strategies for capitalizing on embedded finance
The main concern regarding embedded finance adoption, cited by more than 25% of tech firm respondents, is that risks are unfamiliar and/or difficult to mitigate (36%). Other possible barriers cited by this group include cybersecurity concerns (35%) and a lack of demand from customers (32%).
Possible barriers to adoption
Are currently addressing skills and knowledge gaps months
Plan to invest in new technology within 3 years
60%
50%
40%
30%
20%
10%
53%
53%
Enterprise tech firms that say that embedded finance will have major impact on their organization
Seeking partners and hiring in order to round out their expertise are the top actions currently underway, according to tech firms that that expected a major impact from embedded finance. Over the next few years, investing in new technology will become a priority.
Top actions tech firms are taking
%
0
91
%
said embedded finance is currently impacting their organization
%
0
93
%
said embedded finance will impact their organization within 3 years
Of firms predicting major or moderate impact...
%
0
47
%
said embedded finance is currently impacting their organization
%
0
53
%
said embedded finance will impact their organization within 3 years
Of firms predicting major impact...
There’s no question that embedded finance is having a significant impact on tech firms—both positive and negative—as the majority of our respondents confirmed. The findings indicated these impacts will likely increase over the next few years. The top three impacts cited were the opportunity to open up new sales and distribution models, operating cost increases and the ability to drive revenue.
Enterprise tech impact
Customers are looking for new, more frictionless experiences in non-bank environments and enterprise tech firms are already harnessing embedded finance solutions to move their businesses forward.
Embed new solutions
Embedded finance
Head of Crypto and Emerging Business, FIS
Nabil Manji
“As you think about the digital world, NFTs and blockchain are absolutely a critical a part of that. So as the metaverse starts to creep into everyday life, I think we’re going to see more and more people start to transact with NFTs in that metaverse.”
Seek out opportunities to invite clients and partners into co-creation and ideation sessions to chart new paths in the NFT universe.
Tip:
Key strategies for turning the impacts of the Metaverse to your advantage will be boosting skill sets, finding a partner with the expertise to help build a foundation in the space and investing in new technology.
Capitalizing on the Metaverse
As enterprise tech firms search for financial technology partners to help them build a presence in the NFT universe, they will do well to seek partnerships offering collaborative innovation and API technology—enabling the emergence of new, alternative products in this exciting space.
NFT opportunities
Enterprise tech firms that say NFTs will have major impact on their organization
Tech firms are placing a big priority on seeking partners and hiring, our survey showed. In fact, in regard to NFTs, building partnerships and teams was cited more than twice as many times as increasing technology or R&D budgets, or as investing in technology.
Top actions tech firms are taking today
%
0
89
%
said NFTs are currently impacting their organization
%
0
88
%
said NFTs will impact their organization within 3 years
%
0
49
%
said NFTs are currently impacting their organization
%
0
48
%
said NFTs will impact their organization within 3 years
Of firms predicting major impact...
Enterprise tech firms see the ability to strengthen customer relationships and reduce risk as the top impacts of NFTs, followed by the ability to drive revenue. These impacts are expected to continue steadily with no sign of slowing into the next several years.
Enterprise tech impact
As tokenized versions of assets that can be traded on a blockchain, NFTs are increasingly being used for everything from audio recordings to pieces of art. They’re also playing a part in reshaping the financial landscape. It’s likely that a growing number of people will use NFTs as a means of transacting in the Metaverse.
Harnessing NFTs
NFTs
60
%
More than 60% of enterprise tech firms will increase their technology and R&D budgets to respond to RegTech requirements over the next three years.*
Video clip here
Of firms predicting major or moderate impact...
Are currently filling skills and knowledge gaps
Expect to fill skills and knowledge gaps within 3 years
70%
60%
50%
40%
30%
20%
10%
67%
57%
The Metaverse
RegTech
Decentralized Finance (DeFi)
Tokenized Assets
Embedded Finance
NFTs
%
0
92
%
said RegTech will impact their organization within 3 years
%
0
92
%
said RegTech is currently impacting their organization
Of firms predicting major or moderate impact...
%
0
50
%
said RegTech will impact their organization within 3 years
%
0
48
%
said RegTech is currently impacting their organization
Of firms predicting major impact...
Nearly all enterprise tech executives surveyed feel that RegTech will have at least a moderate impact on their organizations. Respondents stated that the rising push for RegTech is leading to higher operating costs, changes to their sales and/or distribution models, and increasing competition in the market. With these impacts expected to continue or grow, tech firms need ambitious strategies for addressing them today.
Enterprise tech impact
Changing regulatory technology requirements in the coming years will drive a greater need for regulatory technology (RegTech) solutions.
Investing in RegTech
2. RegTech
Have begun investing in new technology
Plan to increase their technology or R&D budgets within 3 years
70%
60%
50%
40%
30%
20%
10%
61%
62%
Enterprise tech firms that expect RegTech to have major impact on their organizations
Well over half of tech firms that predicted a major impact from RegTech are already building and buying new technology in response. Nearly half are also augmenting skills by hiring or seeking partners. Within the next few years, they expect to increase funding for technology or R&D to address RegTech requirements.
Top actions tech firms are taking
More than 60% of enterprise tech firms will increase their technology and R&D budgets to respond to RegTech requirements over the next three years.**
Keep iterating. Stay agile and competitive by continuing to evaluate the data and making small adjustments.
Tip for Success:
Key strategies for turning the impacts of the Metaverse to your advantage will be boosting skill sets, finding a partner with the expertise to help build a foundation in the space and investing in new technology.
Capitalizing on the Metaverse
Facing a growing regulatory and compliance burden, it will become more important for enterprise tech firms to embrace innovative RegTech solutions. When purchasing technologies, a knowledgeable partner with streamlined, seamless solutions on modernized platforms will be essential in helping firms stay agile as regulations continue to change.
Embracing RegTech Innovation
%
0
53
%
said embedded finance will impact their organization within 3 years
%
0
47
%
said embedded finance is currently impacting their organization
Of firms predicting major impact...
%
0
93
%
said embedded finance will impact their organization within 3 years
%
0
91
%
said embedded finance is currently impacting their organization
Of firms predicting major or moderate impact...
There’s no question that embedded finance is having a significant impact on tech firms—both positive and negative—as the majority of our respondents confirmed. The findings indicated these impacts will likely increase over the next few years. The top three impacts cited were the opportunity to open up new sales and distribution models, operating cost increases and the ability to drive revenue.
Enterprise tech impact
Customers are looking for new, more frictionless experiences in non-bank environments and enterprise tech firms are already harnessing embedded finance solutions to move their businesses forward.
Embed new solutions
3. Embedded finance
Are currently addressing skills and knowledge gaps
Plan to invest in new technology within 3 years
60%
50%
40%
30%
20%
10%
53%
53%
Enterprise tech firms that say that embedded finance will have major impact on their organization
Seeking partners and hiring in order to round out their expertise are the top actions currently underway, according to tech firms that expected a major impact from embedded finance. Over the next few years, investing in new technology will become a priority.
Top actions tech firms are taking
Video clip here
SVP, Embedded Finance, B2B & Strategic Innovation, FIS
Taira Hall
“The next wave of value creation will be around providing a single pane of financial services. It’s time to activate that journey for your customers.”
Make sure your strategy and investments are client-centric. Continually listen to your customers to understand their preferences now and in the future.
Tip for Success:
With enterprise tech firms currently prioritizing the filling of knowledge gaps, partnering with an experienced provider will help firms embrace embedded finance with confidence, as well as accelerate time-to-market. The right partner, offering the API technology that powers embedded finance, will also be critical as tech firms invest in new technology.
Strategies for capitalizing on embedded finance
The main concern regarding embedded finance adoption, cited by more than 25% of tech firm respondents, is that risks are unfamiliar and/or difficult to mitigate (36%). Other possible barriers cited by this group include cybersecurity concerns (35%)
and a lack of demand from customers (32%).
Possible barriers to adoption
%
0
48
%
said NFTs will impact their organization within 3 years
%
0
49
%
said NFTs are currently impacting their organization
%
0
88
%
said NFTs will impact their organization within 3 years
%
0
89
%
said NFTs are currently impacting their organization
Are currently filling skills and knowledge gaps
Expect to fill skills and knowledge gaps within 3 years
70%
60%
50%
40%
30%
20%
10%
67%
57%
* All data is based on a survey of 351 worldwide retail firms. The survey was conducted by Longitude Partners on FIS’ behalf between July and September 2022.
Enterprise tech firms are focused on innovation. But in today’s climate, they also need resilience to weather the challenges ahead, from slowing economic growth to soaring costs and increasing competition.
As well as solving problems for customers, enterprise tech firms need to bolster their capabilities, invest in technology and R&D, and create new opportunities for growth. That means partnering with experts that can help them navigate today’s challenges, while freeing them up to focus on what they do best.
As the world’s largest fintech, FIS has both scale and a track record of delivering innovative solutions – from helping firms embed payments to launching the FIS metastore at our FIS Emerald client event. With open fintech, streamlined API-powered solutions and the as-a-service model, we can help you embrace these innovations, leverage economies of scale and speed up your time to market.
We can provide the tools you need to build the future, with the resources and staying power to support you at every stage of your growth.
Contact us today to learn more about the Global Innovation Report or explore the full findings to assess your strategy.
Let’s innovate together
Q: You indicated that the following trends would have a major impact on your organization over the next 12 months.
What activities is your organization currently involved with to respond to these trends?
Let’s talk
Connect with us
©2023 FIS FIS and the FIS logo are trademarks or registered trademarks of FIS or its subsidiaries in the U.S. and/or other countries. Other parties’ marks are the property of their respective owners. 2270538
linkedin.com/company/fis
twitter.com/fisglobal
www.fisglobal.com
fintechforinnovators@fisglobal.com
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our more than 55,000 people are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a Fortune 500® company and is a member of Standard & Poor’s 500® Index.
*All data is based on a survey of 78 executives from APAC (Australia, Hong Kong, Singapore), 44 from Europe (Germany, U.K.), 42 from North America (Canada, U.S.) and 29 from Latin America (Brazil). The survey was conducted by Longitude Partners on FIS’ behalf between July and September 2022.
This content is for information purposes only. We have taken care in the preparation of this information but will not be responsible for any loss or damage including loss of profits, indirect, special or consequential loss arising as a result of any information in this document or reliance on it. The content of this material may not be reproduced without prior consent of FIS.
About FIS
But which innovative developments offer the greatest potential?
The FIS® Global Innovation Report 2023 reveals insights into some of today’s most important innovations, based on a survey of 193 enterprise technology senior executives.* Survey questions included:
**Global Innovation Report 2023, FIS
But which innovative developments offer the greatest potential?
The FIS® Global Innovation Report 2023 reveals insights into some of today’s most important innovations, based on a survey of 193 enterprise technology senior executives.* Survey questions included:
How will innovation impact your business?
How are early adopters responding?
What’s holding firms back from embracing these innovations?
Which strategies can you deploy to turn innovation to your advantage?
1. The Metaverse
2. RegTech
3. Embedded Finance
4. NFTs
Enterprise tech impact
Of firms predicting major or moderate imapct...
Of firms predicting major or moderate imapct...
Enterprise technology executives believe the top three impacts of the Metaverse will be strengthened customer relationships, risk reduction, and changing sales and/or distribution models. Moreover, execs who see the Metaverse as having a major impact feel these effects will only increase within the next three years, spurring the need for action.
Enterprise tech impact
Of firms predicting major or moderate imapct...
When asked what factors are holding firms back from Metaverse adoption, some potential hurdles were shared by more than a quarter of tech firm respondents. These included concerns about content moderation and behavioral standards (cited by 33%), followed by apprehension over unfamiliar risks (28%) and the prospect of insufficient users on platforms (24%).
What holds some firms back
Key strategies for turning the impacts of the Metaverse to your advantage will be boosting skill sets, finding a partner with the expertise to help build a foundation in the space and investing in new technology.
Capitalizing on the Metaverse
To quickly understand both the technology and capabilities within the Metaverse, execute internal proofs of concepts and have your team build out use cases based on your customers' expectations. Then engage directly with the Web3 ecosystem to probe the possibilities.
Tip for Success:
1. THE METAVERSE
Alternative realities, a 3D virtual environment, new digital experiences – for enterprise tech firms, the Metaverse offers opportunities to find new customers and create new products with clients and partners.
Creating new realities
Enterprise technology executives believe the top three impacts of the Metaverse will be strengthened customer relationships, risk reduction, and changing sales and/or distribution models. Moreover, execs who see the Metaverse as having a major impact feel these effects will only increase within the next three years, spurring the need for action.
2. REGTECH
Nearly all enterprise tech executives surveyed feel that RegTech will have at least a moderate impact on their organizations. Respondents stated that the rising push for RegTech is leading to higher operating costs, changes to their sales and/or distribution models, and increasing competition in the market. With these impacts expected to continue or grow, tech firms need ambitious strategies for addressing them today.
Enterprise tech impact
Of firms predicting major or moderate impact...
%
0
92
%
said RegTech will impact their organization within 3 years
%
0
92
%
said RegTech is currently impacting their organization
Of firms predicting major impact...
%
0
50
%
said RegTech will impact their organization within 3 years
%
0
48
%
said RegTech is currently impacting their organization
Enterprise tech firms that expect RegTech to have major impact on their organizations
Well over half of tech firms that predicted a major impact from RegTech are already building and buying new technology in response. Nearly half are also augmenting skills by hiring or seeking partners. Within the next few years, they expect to increase funding for technology or R&D to address RegTech requirements.
Top actions tech firms are taking
Have begun investing in new technology
Plan to increase their technology or R&D budgets within 3 years
70%
60%
50%
40%
30%
20%
10%
61%
62%
Facing a growing regulatory and compliance burden, it will become more important for enterprise tech firms to embrace innovative RegTech solutions. When purchasing technologies, a knowledgeable partner with streamlined, seamless solutions on modernized platforms will be essential in helping firms stay agile as regulations continue to change.
Embracing RegTech Innovation
Keep iterating. Stay agile and competitive by continuing to evaluate the data and making small adjustments.
Tip for Success:
60
%
More than 60% of enterprise tech firms will increase their technology and R&D budgets to respond to RegTech requirements over the next three years.**
Investing in RegTech
Changing regulatory technology requirements in the coming years will drive a greater need for regulatory technology (RegTech) solutions.
Customers are looking for new, more frictionless experiences in non-bank environments and enterprise tech firms are already harnessing embedded finance solutions to move their businesses forward.
Embed new solutions
3. EMBEDDED FINANCE
There’s no question that embedded finance is having a significant impact on tech firms—both positive and negative—as the majority of our respondents confirmed. The findings indicated these impacts will likely increase over the next few years. The top three impacts cited were the opportunity to open up new sales and distribution models, operating cost increases and the ability to drive revenue.
Enterprise tech impact
Of firms predicting major impact...
Of firms predicting major impact...
Seeking partners and hiring in order to round out their expertise are the top actions currently underway, according to tech firms that expected a major impact from embedded finance. Over the next few years, investing in new technology will become a priority.
Top actions tech firms are taking
Enterprise tech firms that expect RegTech to have major impact on their organizations
The main concern regarding embedded finance adoption, cited by more than 25% of tech firm respondents, is that risks are unfamiliar and/or difficult to mitigate (36%). Other possible barriers cited by this group include cybersecurity concerns (35%) and a lack of demand from customers (32%).
Possible barriers to adoption
With enterprise tech firms currently prioritizing the filling of knowledge gaps, partnering with an experienced provider will help firms embrace embedded finance with confidence, as well as accelerate time-to-market. The right partner, offering the API technology that powers embedded finance, will also be critical as tech firms invest in new technology.
Strategies for capitalizing on embedded finance
Make sure your strategy and investments are client-centric. Continually listen to your customers to understand their preferences now and in the future.
Tip for Success:
As tokenized versions of assets that can be traded on a blockchain, NFTs are increasingly being used for everything from audio recordings to pieces of art. They’re also playing a part in reshaping the financial landscape. It’s likely that a growing number of people will use NFTs as a means of transacting in the Metaverse.
Harnessing NFTs
4. NFTS
Enterprise tech firms see the ability to strengthen customer relationships and reduce risk as the top impacts of NFTs, followed by the ability to drive revenue. These impacts are expected to continue steadily with no sign of slowing into the next several years.
Enterprise tech impact
Of firms predicting major or moderate impact...
Of firms predicting major impact...
Tech firms are placing a big priority on seeking partners and hiring, our survey showed. In fact, in regard to NFTs, building partnerships and teams was cited more than twice as many times as increasing technology or R&D budgets, or as investing in technology.
Enterprise tech firms that say NFTs will have major impact on their organization
Top actions tech firms are taking today
As enterprise tech firms search for financial technology partners to help them build a presence in the NFT universe, they will do well to seek partnerships offering collaborative innovation and API technology—enabling the emergence of new, alternative products in this exciting space.
NFT opportunities
Seek out opportunities to invite clients and partners into
co-creation and ideation sessions to chart new paths in the NFT universe.
Tip for Success:
Head of Crypto and Emerging Business, FIS
Nabil Manji
“As you think about the digital world, NFTs and blockchain are absolutely a critical a part of that. So as the Metaverse starts to creep into everyday life, I think we’re going to see more and more people start to transact with NFTs in that Metaverse.”
Enterprise tech firms are focused on innovation. But in today’s climate, they also need resilience to weather the challenges ahead, from slowing economic growth to soaring costs and increasing competition.
As well as solving problems for customers, enterprise tech firms need to bolster their capabilities, invest in technology and R&D, and create new opportunities for growth. That means partnering with experts that can help them navigate today’s challenges, while freeing them up to focus on what they do best.
As the world’s largest fintech, FIS has both scale and a track record of delivering innovative solutions – from helping firms embed payments to launching the FIS metastore at our FIS Emerald client event. With open fintech, streamlined API-powered solutions and the as-a-service model, we can help you embrace these innovations, leverage economies of scale and speed up your time to market.
We can provide the tools you need to build the future, with the resources and staying power to support you at every stage of your growth.
Contact us today to learn more about the Global Innovation Report or explore the full findings to assess your strategy.
CONNECT WITH US
*All data is based on a survey of 78 executives from APAC (Australia, Hong Kong, Singapore), 44 from Europe (Germany, U.K.), 42 from North America (Canada, U.S.) and 29 from Latin America (Brazil). The survey was conducted by Longitude Partners on FIS’ behalf between July and September 2022.
This content is for information purposes only. We have taken care in the preparation of this information but will not be responsible for any loss or damage including loss of profits, indirect, special or consequential loss arising as a result of any information in this document or reliance on it. The content of this material may not be reproduced without prior consent of FIS.
**Global Innovation Report 2023, FIS
SVP and head of Strategy and New Initiatives, FIS
Himal Makwana
Head of Crypto and Emerging Business, FIS
Nabil Manji
“As you think about the digital world, NFTs and blockchain are absolutely a critical a part of that. So as the Metaverse starts to creep into everyday life, I think we’re going to see more and more people start to transact with NFTs in that Metaverse.”
Seek out opportunities to invite clients and partners into co-creation and ideation sessions to chart new paths in the NFT universe.
Tip for Success:
Key strategies for turning the impacts of the Metaverse to your advantage will be boosting skill sets, finding a partner with the expertise to help build a foundation in the space and investing in new technology.
Capitalizing on the Metaverse
As enterprise tech firms search for financial technology partners to help them build a presence in the NFT universe, they will do well to seek partnerships offering collaborative innovation and API technology—enabling the emergence of new, alternative products in this exciting space.
NFT opportunities
Enterprise tech firms that say NFTs will have major impact on their organization
Tech firms are placing a big priority on seeking partners and hiring, our survey showed. In fact, in regard to NFTs, building partnerships and teams was cited more than twice as many times as increasing technology or R&D budgets, or as investing in technology.
Top actions tech firms are taking today
Of firms predicting major impact...
Of firms predicting major or moderate impact...
Enterprise tech firms see the ability to strengthen customer relationships and reduce risk as the top impacts of NFTs, followed by the ability to drive revenue. These impacts are expected to continue steadily with no sign of slowing into the next several years.
Enterprise tech impact
As tokenized versions of assets that can be traded on a blockchain, NFTs are increasingly being used for everything from audio recordings to pieces of art. They’re also playing a part in reshaping the financial landscape. It’s likely that a growing number of people will use NFTs as a means of transacting in the Metaverse.
Harnessing NFTs
4. NFT
Read on to discover the four key trends enterprise technology firms are planning to harness in the next three years.
Click on each key trend
to learn more
The Metaverse
RegTech
Decentralized Finance (DeFi)
NFT
Tokenized Assets
Embedded Finance
Four
key trends
Four
key trends
Four
key trends
Four
key trends
Read on to discover the four key trends enterprise technology firms are planning to harness in the next three years.
Four
key trends
Four
key trends
Four
key trends