Fintech and AI Will Transform Financial Services
“63% of GlobalData survey respondents in banking, financial services, and insurance currently prioritize investments in artificial intelligence (AI), compared to only 54% of companies across all vertical markets.”
via IT Connection
Mobile Financial Services Upside in Emerging Markets
According to the latest worldwide market study by Juniper Research, the total transaction value of the MFS market will exceed $1 trillion by 2024 — that’s rising from $580 billion of current transaction value in 2019.
How Fintech Disrupted Brokers with Zero Trading Fees
“The past few days should be a wake-up call for everyone in financial services. For any firm, the time to power up digital and CX transformation work is here — the disruptors are at the gate, but it is not too late.”
How Fintech is Reshaping Financial Services
“Over the past several years, fintech firms have disrupted traditional banking paradigms. By combining modern technology with a laser focus on improving consumer experiences, large and small fintech firms have brought unprecedented changes to the banking industry.”
via Financial Brand
Digital Wallet Spending Surges in Europe and America
Spending via digital wallets across Europe and North America will increase by 40 percent this year to nearly $790 billion, according to Juniper Research. The largest growth in 2019 will come from in-store payments, with mobile contactless payments more than doubling across these regions.
How Quantum Computing will Impact Data Protection
“The race to quantum-safe security is on, but businesses cannot afford to watch from the sidelines. Those that rely on the secure transmission of data, particularly those in the financial sector, should monitor the situation closely and start developing a plan.”
B2B Cross-Border Transactions to Reach 14.8 Billion
A new global market study found that more than 14 billion B2B cross-border transactions will be processed by 2023; rising from 13.5 billion in 2019 — that’s a 7% increase. This will be driven by blockchain-based payment networks.
via Juniper Research
Global Fintech and Open Banking Market Outlook
The fintech revolution continues to gather momentum. Global investment in fintech ventures more than doubled from $26.67 billion in 2017 to $55.33 billion in 2018. During the same period, the number of deals rose by 18.5% to 3,251.
How Financial Services Disruption Created Opportunities
According to Juniper Research, driven by the increasing acceptance of alternative approaches to traditional banking solutions, fintech platform revenues will reach $638 billion by 2024 — that’s up from an estimated $263 billion in 2019.
Digital Payments Reach $6.7 Trillion in B2B Transactions
According to the latest worldwide market study by Juniper Research, B2B transactions processed by pureplay digital payment operators will reach $14 trillion by 2023 — that’s up from $6.7 trillion in 2018.
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