The first website was published about 27 years ago and had around 153 words. In little more than a quarter of a century, the Internet has become mainstream, it’s within everyone’s reach, and it’s where we look for information and entertainment, and where we do business and make money.

In 1995, less than 1% of the world’s population was connected to the Internet and now more than 50% is. We are witnessing how the internet is transforming the world, it is changing human interaction, commerce and trends. It is necessary to adapt to what the Internet means today and prepare for the changes that it is about to undergo. This will be fundamental for the survival and growth of many businesses.

If we look at the communications sector, the transformation has been radical for telephone operators. They now offer voice, data and all kinds of products that emerged thanks to the management of platforms with millions of users and with proprietary voice and data communication services, etc. We are also witnessing how telephone operators are transforming themselves into banks, backed by powerful international companies, their offers are highly competitive. The Orange Bank, for instance, has just opened in Spain.

I am convinced that Orange will soon be joined by other operators and that in the near future there will be many other Internet businesses that will be transformed into banks. This should remind us of reverse transformation models, which possibly many other companies have in mind; companies that manage millions of customers, have access to privileged information, and can use today’s technology to offer global telephony services.

Why not consider a bank that would offer its customers the best voice and data communication services thanks to its knowledge of customer needs, existing infrastructures and capacity to penetrate the market. The platforms used by banks can be the launch pad for the development of intelligent and secure communication channels between their customers. No one can offer us more security than a bank when it comes to keeping our assets. Perhaps, we will soon be able to ask banks to safeguard our data, our communications, our blockchain-certified smart insurance, etc.

 

 

Posted by Juan M. Corchado

Catedrático en el Área de Ciencias de la Computación e Inteligencia Artificial de la Universidad de Salamanca. Director del Grupo de Investigación BISITE // Full Professor in Area of Computer Science and Artificial Intelligence at University of Salamanca. Director of the BISITE Research Group