Tag Archive | FinTech

How Open Banking will Enable Disruptive New Services

How Open Banking will Enable Disruptive New Services

According to Juniper Research, the total number of Open Banking users — who share data via Open Banking APIs to access new services — will double between 2019 and 2021; reaching 40 million in 2021, that’s up from 18 million in 2019.

via Digital Lifescapes

Fintech: The Short- and Long-Term Outlook

Fintech: The Short- and Long-Term Outlook

While deals and dollars to global fintech companies are both down, certain parts of the fintech ecosystem actually stand to benefit long-term from the COVID-19 pandemic. Mirroring other sectors, fintech activity and investment has been muted through the first five months of 2020.

via CB Insights

Blockchain Innovation in the Financial Services Sector

Blockchain Innovation in the Financial Services Sector

The benefits of blockchain for customers underpin the benefits for insurers and the financial services industry more widely. Clear audit trails and the ability to monitor and audit financial transactions in real-time enhance the ability of regulatory supervisors to ensure the stability of the financial system.

via World Economic Forum

Online Retail Transactions will Reach $4.8 Trillion by 2024

Online Retail Transactions will Reach $4.8 Trillion by 2024

According to Juniper Research, total online retail transaction values will reach $4.8 trillion by 2024 — that’s up from $3.3 trillion anticipated in 2020. This growth will be driven by emerging markets, with China having 62 percent value growth over the next 4 years.

via Digital Lifescapes

Fintech Open Source Prepares for a Post-Pandemic Upside

Fintech Open Source Prepares for a Post-Pandemic Upside

“Big tech has already, largely, mastered the Open Source way, using it as the backbone of much modern technology, making Foundations like the Linux Foundation or the Apache Software Foundation the largest shared technology investments in the world.”

via FINOS

How Fintech Innovation Transforms the Banking Sector

How Fintech Innovation Transforms the Banking Sector

The total number of digital banking users will exceed 3.6 billion by 2024 — that’s up from 2.4 billion in 2020 and a 54 percent increase, according to the latest worldwide market study by Juniper Research.

via Digital Lifescapes

Why Banking Leaders Seek a Global Digital Currency

Why Banking Leaders Seek a Global Digital Currency

A global group of central banks from the United Kingdom, the eurozone, Japan, Sweden and Switzerland assisted by the Bank for International Settlements (BIS) are pooling their research and experiences in the pursuit of a central bank digital currency (CBDC).

via INSEAD

Rethinking Financial Services with Artificial Intelligence Tools

Rethinking Financial Services with Artificial Intelligence Tools

“Using AI merely to revamp traditional products and processes in banks and credit unions misses the point of such digital innovation. Instead of improving old recipes, use new tools to shift from a fixation on product cross-selling to serving consumers’ long-term needs for financial direction and problem-solving.”

via Financial Brand

Online Payment Fraud will Reach $202 Billion by 2024

Online Payment Fraud will Reach $202 Billion by 2024

The digital payment era is here. Record numbers of online payments are being processed. And, nearly half the world will be using digital wallets by 2024, with transaction values to increase by almost 60 percent reaching over $9 trillion, according to Juniper Research.

via Digital Lifescapes

The Fintech Talent Trends for Traditional Banks

The Fintech Talent Trends for Traditional Banks

Today’s banks are losing employees not only to other banks, but also to techfin firms. Amazon, Apple, Facebook, and Google are all making forays into banking, and they’re always on the lookout for people who can help their engineering teams understand the financial payments and risk disciplines.

via Everest Group