The U.S. economy continues to grow and the banking system is in its strongest position in decades, according to Gerard Cassidy, managing director of RBC Capital Markets.

The world of financial services has changed immensely over the last decade. With the after-effects of the financial crisis coupled with the rise of technological innovation, we have witnessed enhanced regulatory pressure including AML4/5, PSD2, to neobanks disrupting the financial market. 

As we enter the new decade, the need for security, safety, and trust in online transactions is greater than ever before. 94% of consumers want to complete transactions online, and 85% want to do it via websites that verify the identity of all users. As such, securing identities will be the critical differentiator for financial institutions throughout the next decade.