TOP DIGITAL SKILLS TO UPSKILL FOR CAREER ADVANCEMENT IN NIGERIA | AFRICA

Professionals across various industries are recognizing the importance of digital upskilling to stay relevant and competitive. With technology reshaping traditional roles and creating new opportunities, understanding the top digital skills needed for career advancement is crucial. This article explores some of the most essential digital skills to develop for career growth, particularly in the context of the Nigerian job market.

The drive towards a digitally transformed economy has spurred numerous digital upskilling programs aimed at equipping individuals with the necessary competencies. For professionals seeking to elevate their careers, engaging in a digital upskilling program can be a game-changer. These programs often focus on bridging digital skill gaps and providing training in the best digital skills to learn in 2024.

Among the top digital skills to learn are data analytics and data science. In a world where data drives decision-making, understanding how to interpret and utilize data is invaluable. Proficiency in data analytics enables professionals to extract insights from complex datasets, helping organizations make informed strategic choices. For those pursuing career upskilling, mastering data analytics can open doors to high-demand roles in various sectors including finance, healthcare, and marketing.

 

Another key area in tech upskilling is software development. As technology continues to advance, coding and programming skills remain indispensable. Familiarity with programming languages such as Python, JavaScript, and SQL allows professionals to develop software solutions, automate processes, and contribute to innovative projects. This skillset is especially relevant as businesses seek to digitalize their operations and improve efficiency.

 

Digital marketing is also emerging as one of the top digital skills in demand. With the rise of online platforms and social media, understanding how to effectively market products and services in the digital space is essential. Digital marketing encompasses various techniques such as SEO, content marketing, and social media management. Mastery of these techniques helps professionals enhance brand visibility and drive consumer engagement.

 

In addition to the aforementioned skills, cybersecurity has become a critical area of focus. As cyber threats grow in sophistication, organizations are investing heavily in safeguarding their digital assets. Knowledge of cybersecurity principles, including threat detection and response, can significantly bolster a professional’s career prospects. This skill is increasingly recognized as one of the best digital skills to learn in 2024 due to its growing relevance and importance.

 

Cloud computing is another top digital skill that is shaping the future of technology. With more businesses migrating to cloud-based solutions, expertise in cloud platforms such as AWS, Google Cloud, and Microsoft Azure is highly valuable. Professionals with cloud computing skills can manage and optimize cloud infrastructure, ensuring that businesses can scale their operations efficiently and securely.

 

Furthermore, proficiency in artificial intelligence (AI) and machine learning is becoming indispensable. AI and machine learning technologies are transforming industries by enabling automation and enhancing decision-making capabilities. Understanding how to develop and implement AI models and algorithms positions professionals at the forefront of technological innovation. For those involved in career upskilling, acquiring skills in AI and machine learning can significantly impact their career trajectory.

 

UX/UI design is another critical skill set. The focus on user experience (UX) and user interface (UI) design has grown as businesses aim to create engaging and user-friendly digital products. Expertise in UX/UI design involves understanding user needs, creating intuitive interfaces, and ensuring a seamless user experience. This skill is essential for professionals involved in web and app development, making it one of the top digital skills to learn.

 

In tech upskilling, it’s also important to address emerging technologies such as blockchain. Blockchain technology offers secure and transparent solutions for various applications, from financial transactions to supply chain management. Knowledge of blockchain can position professionals as experts in a rapidly growing field with numerous potential applications.

 

The digital landscape is constantly evolving, and staying ahead requires continuous learning and adaptation. Investing in a comprehensive digital upskilling program can help bridge digital skill gaps and prepare professionals for future opportunities. This proactive approach to career upskilling not only enhances individual capabilities but also contributes to the broader goal of a digitally skilled workforce in Nigeria.

 

As we delve deeper into the nuances of digital skills and their impact on career advancement, it becomes evident that these competencies are not just supplementary but fundamental to thriving in today’s job market. The emphasis on acquiring the top digital skills to learn, participating in relevant digital upskilling programs, and addressing emerging tech trends underscores the importance of ongoing education and skill development.

 

With the rapidly changing technological landscape, professionals must stay informed about the latest advancements and continuously seek opportunities for growth. The journey towards mastering these skills requires commitment and strategic planning, but the rewards in terms of career progression and marketability are well worth the effort.

As digital transformation continues to redefine industries in Nigeria and globally, professionals must adapt by embracing the top digital skills that align with market needs. This ongoing need for digital skill enhancement has led to an increased focus on career upskilling and the development of specialized competencies. By engaging in digital upskilling and addressing the prevalent digital skill gaps, professionals can enhance their employability and advance their careers.

 

One prominent area where digital upskilling is critical is in the field of big data. The ability to analyze and interpret vast amounts of data is essential for making strategic business decisions. Big data technologies, such as Hadoop and Spark, offer powerful tools for managing and processing large datasets. Professionals skilled in these technologies can drive data-driven decision-making and optimize business processes, making them highly sought after in the job market. For those focused on career upskilling, expertise in big data can provide a significant competitive edge.

 

Another significant area of focus is digital project management. With the increasing complexity of technology projects, effective management is crucial for successful implementation. Digital project management involves using tools and methodologies to plan, execute, and oversee projects from inception to completion. Familiarity with project management software like Jira and Trello, as well as methodologies such as Agile and Scrum, can greatly enhance a professional’s ability to lead projects and ensure their success. This skill set is vital for those seeking to advance in project management roles or looking to pivot into this field.

 

In the realm of digital design, proficiency in graphic design tools and techniques is highly valuable. Graphic design involves creating visual content that communicates messages effectively. Skills in software such as Adobe Photoshop, Illustrator, and InDesign are essential for crafting compelling graphics and layouts. As businesses increasingly rely on visual content for branding and marketing, expertise in graphic design can significantly boost a professional’s career prospects.

 

Furthermore, understanding the principles of e-commerce is becoming increasingly important. E-commerce encompasses various aspects such as online sales strategies, payment systems, and digital customer service. Professionals who can navigate these components and implement effective e-commerce solutions are well-positioned to contribute to the growth of online businesses. Mastery of e-commerce platforms like Shopify and WooCommerce, coupled with knowledge of digital payment systems, can greatly enhance a professional’s value in the retail and technology sectors.

 

In the context of Nigeria’s growing tech ecosystem, mobile app development is another area of significant opportunity. With the proliferation of smartphones and mobile devices, the demand for innovative mobile applications is on the rise. Skills in mobile app development, including proficiency in platforms such as Android and iOS, enable professionals to create and deploy apps that cater to various user needs. As mobile technology continues to advance, staying updated with the latest development tools and programming languages is crucial for those interested in this field.

 

Additionally, knowledge of Internet of Things (IoT) technology is gaining traction. IoT involves the interconnection of devices through the internet, allowing them to collect and exchange data. This technology is transforming sectors such as healthcare, agriculture, and smart cities. Professionals with expertise in IoT can work on projects that involve building and managing connected devices, analyzing data from these devices, and developing innovative solutions based on IoT technology. As the IoT landscape expands, understanding this technology can open new avenues for career growth.

 

Artificial Intelligence (AI) and Machine Learning (ML) remain at the forefront of digital skills development. These technologies are reshaping industries by enabling automation, enhancing data analysis, and driving innovations. Professionals with skills in AI and ML can develop algorithms and models that improve decision-making processes and create smarter systems. For those engaged in career upskilling, AI and ML offer exciting opportunities to work on cutting-edge projects and technologies.

 

Moreover, the rise of remote work has underscored the importance of digital communication and collaboration tools. Proficiency in tools such as Zoom, Microsoft Teams, and Slack is essential for effective remote work and collaboration. Understanding how to utilize these tools for virtual meetings, project management, and team communication can enhance productivity and facilitate smooth remote operations. This skill is particularly relevant in the current work environment where remote and hybrid work models are becoming more common.

 

As businesses continue to emphasize digital transformation, having skills in business intelligence (BI) tools is becoming increasingly valuable. BI tools like Tableau, Power BI, and Looker allow professionals to visualize data, generate reports, and provide actionable insights. Mastery of these tools enables professionals to contribute to strategic decision-making and drive business performance. For those focused on digital upskilling, acquiring proficiency in BI tools can significantly enhance their role within an organization.

 

Additionally, familiarity with web development is crucial for creating and maintaining an online presence. Web development encompasses both front-end and back-end development, involving skills in HTML, CSS, JavaScript, and server-side technologies. As businesses seek to establish and improve their digital footprints, web development expertise is essential for building responsive, user-friendly websites and applications.

 

Understanding digital ethics and privacy is also increasingly important. As data privacy concerns grow, knowledge of ethical considerations and regulations, such as GDPR and local data protection laws, is vital for ensuring compliance and protecting user information. Professionals who are well-versed in digital ethics can help organizations navigate the complex landscape of data privacy and build trust with customers.

 

In the context of career upskilling, it is essential to continually assess and update one’s skills to stay aligned with industry trends and technological advancements. Participating in relevant digital upskilling programs and pursuing certifications in these top digital skills can provide a structured path to acquiring and validating expertise. By proactively addressing digital skill gaps and embracing ongoing learning, professionals in Nigeria can position themselves for sustained career growth and success.

Professionals must adapt to remain competitive and advance their careers. This adaptation requires embracing and mastering the top digital skills that are increasingly vital in today’s job market. The journey towards career upskilling involves engaging with a variety of ss designed to bridge skill gaps and equip individuals with the necessary tools to succeed.

One critical area of focus for digital upskilling is in Virtual and Augmented Reality (VR/AR). These technologies are not only revolutionizing sectors such as entertainment and education but are also making significant strides in areas like healthcare and real estate. Mastery in VR/AR involves learning 3D modeling, immersive experience design, and programming for these environments. For those seeking to stand out in tech upskilling, acquiring skills in VR/AR can provide a substantial advantage as businesses continue to seek innovative ways to enhance user experiences and engagement.

 

Blockchain technology is another pivotal skill set that has grown beyond its initial cryptocurrency applications. The ability to work with blockchain involves understanding decentralized ledgers, smart contracts, and cryptographic security. As companies explore blockchain for its potential to increase transparency and efficiency, having expertise in this area can greatly enhance a professional’s marketability. For career upskilling, blockchain knowledge represents one of the top digital skills to learn, given its increasing relevance across various industries.

 

Similarly, Robotic Process Automation (RPA) is reshaping how businesses handle repetitive tasks and streamline operations. RPA involves using software robots to perform routine tasks such as data entry and process management. Gaining proficiency with RPA tools like UiPath and Automation Anywhere can significantly boost career prospects. For those focused on career upskilling, RPA provides an opportunity to contribute to operational efficiency and innovation within organizations.

 

Digital project management is another area of significant importance. With the complexity of technology projects increasing, the ability to manage these projects effectively is crucial. Digital project management requires skills in planning, executing, and overseeing projects using tools and methodologies such as Agile and Scrum. Mastery of project management software like Jira and Trello is essential for those looking to lead and manage successful projects. This skill is particularly relevant for individuals pursuing roles in project management or those looking to pivot into this field.

 

In the domain of digital design, expertise in graphic design tools is highly valued. Graphic design involves creating visual content that communicates effectively with audiences. Proficiency in software such as Adobe Photoshop, Illustrator, and InDesign is essential for producing compelling graphics and layouts. As businesses increasingly rely on visual content for branding and marketing, strong graphic design skills are critical for career growth.

 

E-commerce is also becoming a significant area for career advancement. With the rapid growth of online shopping, understanding e-commerce strategies, payment systems, and digital customer service is crucial. Skills in platforms like Shopify and WooCommerce, combined with knowledge of digital payment solutions, can significantly enhance career prospects in the retail and technology sectors. Professionals with e-commerce expertise can help businesses succeed in the digital marketplace.

 

The rise of mobile app development is another crucial area. As the use of smartphones and mobile devices continues to grow, there is a strong demand for innovative mobile applications. Skills in mobile app development, including proficiency in Android and iOS platforms, are vital for creating and deploying apps that meet user needs. For those interested in tech upskilling, mobile app development offers exciting opportunities to work on dynamic and impactful projects.

 

Furthermore, expertise in Internet of Things (IoT) technology is gaining importance. IoT involves the interconnection of devices, allowing them to collect and exchange data. This technology has transformative potential across sectors such as healthcare, agriculture, and smart cities. Professionals with IoT skills can work on projects related to building and managing connected devices, analyzing data, and developing innovative solutions. As IoT technology continues to evolve, knowledge in this area offers significant career growth opportunities.

 

Artificial Intelligence (AI) and Machine Learning (ML) are at the forefront of digital innovation. These technologies enable automation and enhance data analysis, making them critical skills for modern professionals. Proficiency in AI and ML involves developing algorithms and models that improve decision-making and create smarter systems. For those engaged in career upskilling, AI and ML offer a pathway to work on cutting-edge projects and technologies that are shaping the future.

 

Content creation and management also play a crucial role in digital marketing and brand engagement. The ability to create compelling content whether written, visual, or multimedia is essential for capturing and retaining audience attention. Skills in using content management systems (CMS) like WordPress and strategies for effective content distribution can greatly impact a professional’s ability to contribute to marketing efforts. For those focused on career upskilling, strong content creation skills are crucial.

 

With the increasing prevalence of remote work, digital communication and collaboration tools have become indispensable. Familiarity with tools such as Zoom, Microsoft Teams, and Slack is essential for effective remote work and team collaboration. Understanding how to leverage these tools for virtual meetings, project management, and communication can enhance productivity and facilitate successful remote operations.

 

Sustainability and green technologies are also gaining traction as global emphasis shifts towards environmental responsibility. Skills in renewable energy, environmental impact assessment, and sustainable practices are becoming increasingly valuable. Professionals knowledgeable in these areas can contribute to reducing environmental footprints and supporting global sustainability goals, making these skills highly relevant in the context of career upskilling.

 

Lastly, while technical skills are crucial, soft skills such as effective communication, problem-solving, and adaptability is equally important. These skills help professionals thrive in a digital environment, facilitating collaboration across diverse teams and managing complex projects. For career upskilling, developing these soft skills alongside technical expertise is essential for overall career success.

 

Navigating the digital landscape requires a commitment to continuous learning and adaptation. By engaging in digital upskilling programs, staying informed about emerging technologies, and addressing digital skill gaps, professionals in Nigeria can enhance their career prospects and achieve sustained growth. Embracing these top digital skills and integrating them into career development strategies will ensure that individuals remain competitive and successful in an increasingly digital world.

There are no secrets to success. It is the result of preparation, hard work, and learning from failure.

- Paul Tournier

Content Ideation: Tools & Techniques

Whether you are building an enterprise web portal or a state-of-the-art website, you always need the right modern tools. Well-built and maintained PHP frameworks provide those tools in abundance, allowing maintained PHP frameworks provide those tools in abundance, allowing developers to save time, re-use code, and streamline the back end. As software development tools continuously change to follow the latest. Despite the competition from startups and the ever-present economic challenges, the banking industry is gradually adopting what the latest technologies have to offer.

From cloud technology to cyber risk management to machine learning in investment banking, join us as we explore the banking industry trends for 2019 and beyond. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Cloud Technology as New Foundation

Cloud has become the new normal for nine of ten enterprises across industries. The average IT environment in both SMBs and larger companies is becoming increasingly cloud-based. Companies also diversify their delivery models, with Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) gaining more and more traction. Plus, a slew of new job positions have emerged to manage different aspects of cloud in the enterprise, including architecture and safety.

One of the new trends in the banking industry, ensuring fail-safe security will also be a core question regardless of the type of a cloud solution and its scale. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Risk Management Banking Industry Trends

Existing risk management systems at banking organizations might not be ready to face the challenges of the rapidly changing world. Poised to become the top banking industry trends for 2019 and years to come, AI-driven solutions with machine and deep learning algorithms provide a solution. As for cyber risk management, experts at Deloitte point at the following trends in the banking industry:

  1. Strengthen basic controls like IT asset, patch, and vulnerability management to identify and manage risks related to implementation of cloud and migration to open architecture.
  2. Use analytics tools and AI with security in mind.
  3. Build an IT infrastructure with security as a top priority: it should be able to withstand systematic attacks and long stress periods.
integrio blog layers 2
Risk Management Banking Industry Trends

Fintechs and nonbanks now have a substantial influence in the banking industry. They are highly agile, innovative, and aim at exceeding the demands of modern customers in banking services and experiences. Established retail banks need to compete and often play catch-up. Still, they acknowledge the need to change, and change fast.

There are no secrets to success. It is the result of preparation, hard work, and learning from failure.

– Paul Tournier

Thus, adopting the same approach is a potent solution for retail banks that aim at adopting the latest trends in the banking industry quickly and impactfully.

Magic Leap Glasses Review: Enterprise Usage

Whether you are building an enterprise web portal or a state-of-the-art website, you always need the right modern tools. Well-built and maintained PHP frameworks provide those tools in abundance, allowing maintained PHP frameworks provide those tools in abundance, allowing developers to save time, re-use code, and streamline the back end. As software development tools continuously change to follow the latest. Despite the competition from startups and the ever-present economic challenges, the banking industry is gradually adopting what the latest technologies have to offer.

From cloud technology to cyber risk management to machine learning in investment banking, join us as we explore the banking industry trends for 2019 and beyond. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Cloud Technology as New Foundation

Cloud has become the new normal for nine of ten enterprises across industries. The average IT environment in both SMBs and larger companies is becoming increasingly cloud-based. Companies also diversify their delivery models, with Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) gaining more and more traction. Plus, a slew of new job positions have emerged to manage different aspects of cloud in the enterprise, including architecture and safety.

One of the new trends in the banking industry, ensuring fail-safe security will also be a core question regardless of the type of a cloud solution and its scale. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Risk Management Banking Industry Trends

Existing risk management systems at banking organizations might not be ready to face the challenges of the rapidly changing world. Poised to become the top banking industry trends for 2019 and years to come, AI-driven solutions with machine and deep learning algorithms provide a solution. As for cyber risk management, experts at Deloitte point at the following trends in the banking industry:

  1. Strengthen basic controls like IT asset, patch, and vulnerability management to identify and manage risks related to implementation of cloud and migration to open architecture.
  2. Use analytics tools and AI with security in mind.
  3. Build an IT infrastructure with security as a top priority: it should be able to withstand systematic attacks and long stress periods.
integrio blog layers 2
Risk Management Banking Industry Trends

Fintechs and nonbanks now have a substantial influence in the banking industry. They are highly agile, innovative, and aim at exceeding the demands of modern customers in banking services and experiences. Established retail banks need to compete and often play catch-up. Still, they acknowledge the need to change, and change fast.

There are no secrets to success. It is the result of preparation, hard work, and learning from failure.

– Paul Tournier

Thus, adopting the same approach is a potent solution for retail banks that aim at adopting the latest trends in the banking industry quickly and impactfully.

Your Guide to Free Open BIM Software

Whether you are building an enterprise web portal or a state-of-the-art website, you always need the right modern tools. Well-built and maintained PHP frameworks provide those tools in abundance, allowing maintained PHP frameworks provide those tools in abundance, allowing developers to save time, re-use code, and streamline the back end. As software development tools continuously change to follow the latest. Despite the competition from startups and the ever-present economic challenges, the banking industry is gradually adopting what the latest technologies have to offer.

From cloud technology to cyber risk management to machine learning in investment banking, join us as we explore the banking industry trends for 2019 and beyond. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Cloud Technology as New Foundation

Cloud has become the new normal for nine of ten enterprises across industries. The average IT environment in both SMBs and larger companies is becoming increasingly cloud-based. Companies also diversify their delivery models, with Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) gaining more and more traction. Plus, a slew of new job positions have emerged to manage different aspects of cloud in the enterprise, including architecture and safety.

One of the new trends in the banking industry, ensuring fail-safe security will also be a core question regardless of the type of a cloud solution and its scale. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Risk Management Banking Industry Trends

Existing risk management systems at banking organizations might not be ready to face the challenges of the rapidly changing world. Poised to become the top banking industry trends for 2019 and years to come, AI-driven solutions with machine and deep learning algorithms provide a solution. As for cyber risk management, experts at Deloitte point at the following trends in the banking industry:

  1. Strengthen basic controls like IT asset, patch, and vulnerability management to identify and manage risks related to implementation of cloud and migration to open architecture.
  2. Use analytics tools and AI with security in mind.
  3. Build an IT infrastructure with security as a top priority: it should be able to withstand systematic attacks and long stress periods.
integrio blog layers 2
Risk Management Banking Industry Trends

Fintechs and nonbanks now have a substantial influence in the banking industry. They are highly agile, innovative, and aim at exceeding the demands of modern customers in banking services and experiences. Established retail banks need to compete and often play catch-up. Still, they acknowledge the need to change, and change fast.

There are no secrets to success. It is the result of preparation, hard work, and learning from failure.

– Paul Tournier

Thus, adopting the same approach is a potent solution for retail banks that aim at adopting the latest trends in the banking industry quickly and impactfully.

Tech Conference Events 2019/2020

Whether you are building an enterprise web portal or a state-of-the-art website, you always need the right modern tools. Well-built and maintained PHP frameworks provide those tools in abundance, allowing maintained PHP frameworks provide those tools in abundance, allowing developers to save time, re-use code, and streamline the back end. As software development tools continuously change to follow the latest. Despite the competition from startups and the ever-present economic challenges, the banking industry is gradually adopting what the latest technologies have to offer.

From cloud technology to cyber risk management to machine learning in investment banking, join us as we explore the banking industry trends for 2019 and beyond. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Cloud Technology as New Foundation

Cloud has become the new normal for nine of ten enterprises across industries. The average IT environment in both SMBs and larger companies is becoming increasingly cloud-based. Companies also diversify their delivery models, with Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) gaining more and more traction. Plus, a slew of new job positions have emerged to manage different aspects of cloud in the enterprise, including architecture and safety.

One of the new trends in the banking industry, ensuring fail-safe security will also be a core question regardless of the type of a cloud solution and its scale. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Risk Management Banking Industry Trends

Existing risk management systems at banking organizations might not be ready to face the challenges of the rapidly changing world. Poised to become the top banking industry trends for 2019 and years to come, AI-driven solutions with machine and deep learning algorithms provide a solution. As for cyber risk management, experts at Deloitte point at the following trends in the banking industry:

  1. Strengthen basic controls like IT asset, patch, and vulnerability management to identify and manage risks related to implementation of cloud and migration to open architecture.
  2. Use analytics tools and AI with security in mind.
  3. Build an IT infrastructure with security as a top priority: it should be able to withstand systematic attacks and long stress periods.
integrio blog layers 2
Risk Management Banking Industry Trends

Fintechs and nonbanks now have a substantial influence in the banking industry. They are highly agile, innovative, and aim at exceeding the demands of modern customers in banking services and experiences. Established retail banks need to compete and often play catch-up. Still, they acknowledge the need to change, and change fast.

There are no secrets to success. It is the result of preparation, hard work, and learning from failure.

– Paul Tournier

Thus, adopting the same approach is a potent solution for retail banks that aim at adopting the latest trends in the banking industry quickly and impactfully.

15 Secrets Of Digital Transformation

Whether you are building an enterprise web portal or a state-of-the-art website, you always need the right modern tools. Well-built and maintained PHP frameworks provide those tools in abundance, allowing maintained PHP frameworks provide those tools in abundance, allowing developers to save time, re-use code, and streamline the back end. As software development tools continuously change to follow the latest. Despite the competition from startups and the ever-present economic challenges, the banking industry is gradually adopting what the latest technologies have to offer.

From cloud technology to cyber risk management to machine learning in investment banking, join us as we explore the banking industry trends for 2019 and beyond. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Cloud Technology as New Foundation

Cloud has become the new normal for nine of ten enterprises across industries. The average IT environment in both SMBs and larger companies is becoming increasingly cloud-based. Companies also diversify their delivery models, with Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) gaining more and more traction. Plus, a slew of new job positions have emerged to manage different aspects of cloud in the enterprise, including architecture and safety.

One of the new trends in the banking industry, ensuring fail-safe security will also be a core question regardless of the type of a cloud solution and its scale. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Risk Management Banking Industry Trends

Existing risk management systems at banking organizations might not be ready to face the challenges of the rapidly changing world. Poised to become the top banking industry trends for 2019 and years to come, AI-driven solutions with machine and deep learning algorithms provide a solution. As for cyber risk management, experts at Deloitte point at the following trends in the banking industry:

  1. Strengthen basic controls like IT asset, patch, and vulnerability management to identify and manage risks related to implementation of cloud and migration to open architecture.
  2. Use analytics tools and AI with security in mind.
  3. Build an IT infrastructure with security as a top priority: it should be able to withstand systematic attacks and long stress periods.
integrio blog layers 2
Risk Management Banking Industry Trends

Fintechs and nonbanks now have a substantial influence in the banking industry. They are highly agile, innovative, and aim at exceeding the demands of modern customers in banking services and experiences. Established retail banks need to compete and often play catch-up. Still, they acknowledge the need to change, and change fast.

There are no secrets to success. It is the result of preparation, hard work, and learning from failure.

– Paul Tournier

Thus, adopting the same approach is a potent solution for retail banks that aim at adopting the latest trends in the banking industry quickly and impactfully.