As technology continues to develop in all scopes of life, financial services are expected to be integrated into the new digital experience. The opportunities are available to innovate and use data to boost the customer experience and provide tools for decision-making.
The financial industry in the US and PR is very different. In the US, the industry represents over $1.4 trillion (7.4% of GDP) with over 5,000 commercial banks and a robust loan profile for commercial businesses. On the island, there are a total of 4 commercial banks for retail consumers with a robust credit union sector.
As we now head into almost 2 years since the beginning of the COVID pandemic, the future of finance remains murky. Whether these months will usher in the beginning of sustained global economic prosperity or if uncertainty regarding COVID will lead to more restrained growth, one thing is clear. Information and analysis will be necessary in order to guide businesses into the future.
Finance being a quantitative-driven field, our firm uses the latest in artificial intelligence in order to create economic projections that are accurate and data-driven. Some of our indicators include:
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