Fintech has transformed banking as we once knew it, and now fintech-as-a-service (FaaS) is providing financial technology as a service through integrated API-based solutions to a wide market. From processing payments to meeting compliance requirements, FaaS is set to drive coordinated financial innovation further, with no end in sight.
Who could have predicted that a health crisis would result in a banking metamorphosis, with banks adopting the digital-platform model as consumers embrace digital self-service channels? Banks need to follow a series of steps to stay ahead on the journey to an agile, data-driven future, providing services embedded in their customers’ lives.
India, second only to China in population, is home to one of the world’s most active tech sectors, with innovative firms popping up all over the vast nation, attracting significant interest from foreign investors. Time will tell if these enthusiastic start-ups live up to their expectations and reward their investors with soaring profits.
The infiltration of multiple digital technologies in banking operations continues unabated, with the goal of outpacing customers’ expectations and fintechs’ competition. From mixed reality to voicebots and robotisation, the race to digitalize financial services securely but optimally has no end in sight. How can banks compete strongly?
The pandemic has stressed the importance of digitization in banking. Zambia National Commercial Bank had established a firm digital foundation before 2020 and has continued to build on it throughout the crisis, growing its customer outreach, increasing its profits and confirming its position as Zambia’s undisputed digital financial leader.
Financial-technology and financial-services firms are transitioning from competitors to partners, exploiting the advantages and resources that each offers—with fintechs bringing technological proficiency and agility and banks providing large and loyal customer bases. Four recent partnerships confirm just how rewarding these unions can be.
The COVID-19 pandemic has driven a step-change across the European payments industry. We’ve seen an acceleration of cashless payments across markets where cash has historically been dominant. And an exponential increase in e-commerce activity as consumers were forced to stay at home during national lockdowns
Technology has soared during the COVID crisis, but the outlook for fintech funding has been mixed, as investors prioritized surety, especially during the pandemic’s early days. Although fintech funding experienced a pronounced drop during the first half of 2020 across VC, PE and M&A, it has recovered impressively, auguring well for 2021.
Cryptocurrencies have circulated for a while but are still plagued by scepticism. Recently, cryptos have received endorsements from high-profile advocates, and the credibility of this asset class is growing—along with its prices. What are the top cryptos, where are their prices heading, and are they worth serious investor consideration?
Some people and business owners still do not have bank accounts, most in rural communities of developing nations. But the situation is improving as technology opens doors to financial inclusion for the previously excluded. In what specific ways is increased banking access being achieved, with governments working alongside financial firms?