How AI will Transform the Financial Services Sector
Artificial intelligence (AI) is in the process of transforming a variety of models in the global financial services industry, a global survey jointly conducted by the Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge Judge Business School and the World Economic Forum suggests.
The Upside for Fintech Adoption in North America
While the adoption of fintech services has skyrocketed globally, adoption rates in Canada and the U.S. are some of the lowest in the world. Is this good news for legacy financial institutions or a warning sign for the future? Here’s the answer.
via Financial Brand
Point-of-Sale Terminals Upgrade to Contactless Payments
Contactless transactions at POS are increasingly displacing cash in multiple markets. The study found that the average value per contactless transaction will grow from under $19 in 2019 to over $23 in 2024, with mobile payments and increasing contactless card issuance in the U.S. driving transaction growth.
Distributed Ledger Innovation: Beyond the Hype
“Another year has rolled on by, and while many things in the blockchain space have changed, a lot remains the same. 2019 saw a continued cooling of indiscriminate funding and a renewed focus on quality over hype.”
International Money Transfer Innovation Gains Momentum
According to the latest worldwide market study by Juniper Research, global international digital money transfer transaction volume will reach 2 billion by 2024 — that’s up from 1.1 billion in 2019.
Mobile Banking Market will Reach $1.8 Billion by 2026
The global mobile banking market reached $715.3 million in 2018 and is projected to reach $1,824.7 million by 2026, growing at a CAGR of 12.2% from 2019 to 2026. The customer-to-business segment is the fastest growing.
via AMR
Digital Banking: The Ongoing Disruption in 2020
In financial services, digital disruptors are coming, impacting traditional banks and credit unions as well as consumers. With the promise of personalized solutions and improved experiences delivered on digital channels, the potential for major changes to the banking ecosystem appears imminent.
via Financial Brand
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
Digital Payment Trends will Reshape the Global Economy
In recent years, cashless payment has become increasingly prevalent, whether using conventional methods or innovative and convenient financial services on mobile phones. This trend will make our economy and financial system more efficient.
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.”
via Forrester
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