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Embracing disruption: Technology in the financial world

17 November 2017HighlightsEconomics

Embracing disruption: Technology in the financial world

  • From cryptocurrency to artificial intelligence, the financial world has welcomed recent tech advances
  • Citigold focuses on digital innovation with the launch of DocuSign, making signing your documents faster, easier and completely paperless

It could be said that technology is rapidly changing the world around us, creating a wealth of new opportunities that could both save money and increase efficiency. Indeed, the latest advances may be disrupting nearly every sector across the globe. Robotics, AI (artificial intelligence) and AR (augmented reality) may all be growing in prominence – everywhere from factory production lines to local supermarkets – and following suit, banking industry leaders are incorporating an increasing amount of technology into their field. Here we explore the recent innovations adopted by the financial world, which includes Citi's new DocuSign tool.


According to the Independent newspaper, cryptocurrency is on the rise, with more and more establishments accepting its most popular forms each day1. Even the entertainment industry has recognised this surge; Icelandic singer Björk recently partnered with a British blockchain company to allow fans to use cryptocurrencies to purchase her new album2. In recent months the bitcoin has soared to a record high of over $5000 – meaning each is worth four times more than one ounce of gold3.

Despite a seemingly positive trend in the cryptocurrency at present, bitcoin can still be seen as volatile. In its short history, it's been known to fluctuate due to a variety of factors – from security breaches4 to questions over its reputation. As it's still an unregulated market, Citi does not recommend investment in cryptocurrency at this time.

Artificial intelligence

Another technological advancement which could be seen to be flourishing in the finance sector is artificial intelligence (known as AI). AI isn't entirely new to banking – many institutions already use it to flag suspicious account activity5, but AI's ability to spot abnormal behavioural trends could also be used on a larger scale; to detect rogue trading or market misuse, for example. As reliance on technology seemingly grows and more businesses become digital, the risk of data compromise, hacking and other security threats may naturally grow too.

In response to these risks, financial bodies will most likely use AI's capabilities6 to counteract fraud, using predictive analytics, user spending habits data and smart phone location services, to prevent misuse.


Something technologically innovative for Citi is DocuSign, a cloud-based tool designed to ease transactions with your smartphone, computer or tablet.

With 93% of millennials (those born from the early 80s to the late 90s) using their phone to access the internet7 and 46% calling for banking services to be available on their smartphone, there's been a rise in the need for financial-based tech. One technology that's satisfying this need is Digital Transaction Management (DTM) – a collection of services that are designed to simplify document-based transactions. Launching new for Citi, DocuSign lets you review and sign documents electronically from your tablet, computer or smartphone. The programme works by securely storing your signature in a cloud-based server. After authenticating your identity, your documents can be reviewed within the platform, before being signed off with your stored signature and sent back to be processed.

At Citi, we work hard to bring you the conveniences of digital technology, while always keeping your security in mind. Read more about DocuSign, or contact your Relationship Manager for further advice.








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