Global Business Intelligence

Future Banking and Payments

Financial services firms are collaborating with fintechs to leverage advanced technologies and future-proof their businesses. Here we explore evolving consumer demands, the need for banking and payments wholesale transformation, the impact of cryptocurrencies, and more.

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A budding relationship

As consumer demands reshape the banking and payments landscape, the industry is making friends with fintechs that can help cut costs and drive growth.

Worldwide spending on information technology (IT) by financial services companies is expected to reach nearly US$500bn by 2021, up from US$440bn in 2018, according to market research firm International Data Corporation (IDC). According to IDC’s research, there are three main reasons financial services firms are pouring money into IT: to improve the customer experience; to modernise legacy systems such as payments, lending and claims; and to bolster fraud, security and compliance needs.

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Using Digital Payments to Unlock Revenue

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Mobile – the key to overcoming late payment

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Banking on Blockchain

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The way we pay is transforming at meteoric speed

                               

Bitcoin at the tipping point

Is it time for wholesale adoption of cryptocurrencies?

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Banking: Why freedom of choice is needed in the industry

Banks are traditionally known for being slow to innovate, leaving them with slow processes and outdated applications.

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Fighting cyber fraud in a real-time world

Cybercrime remains a top threat to the financial sector, with cyberattacks considered the number one man-made global risk by the World Economic Forum.