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4 Tech Trends That Will Transform Banking in 2021 The industry is entering a critical phase. Legacy technology will finally be superseded by a combination of cloud computing and AI, putting banks and credit unions closer to par with fintechs. But without phasing out the traditional product silo/back-office environment, that change won’t happen. The increasingly … Read more
Forget bitcoin — FinTech is the ‘real Covid-19 story’ JPMorgan thinks bitcoin is an “economic side show,” despite the cryptocurrency’s monster rally. Bitcoin has gained traction with major Wall Street banks and Fortune 500 companies like Tesla and Mastercard. The rise of digital finance is the “real financial transformation story of the Covid-19 era.” Bitcoin … Read more
Post-Brexit Fintech Big Bang with Hubs and Tech Visas U.K. Chancellor Rishi Sunak plans to introduce new visas for financial technology workers in the March 2021 budget, part of a package of proposals in a report aimed at boosting the industry in the country, according to newspapers. The fast-track visa program is designed to lure … Read more
Top 2021 Banking and Security Regulations In 2020, financial institutions found themselves forced to engage with their customers almost solely through digital channels, namely e-banking and financial mobile applications. The pandemic’s restrictions on movement and in-person meetings also meant that they had to onboard a significant cohort of older and less digitally aware clients. This … Read more
Fintech’s future lies in artificial intelligence Artificial intelligence (AI), along with credit analysis, is increasingly becoming an essential part of the FinTech sector, especially commercial lending. AI and large-scale data analysis bridge the gap between fully automated and fully manual credit assessment, allowing an efficient, semi-automated process while still preserving some of the customization necessary … Read more
What do you get when you combine the buzziest tech sector with the most high-profile public policy issue? Financial technology combating climate change. It would seem an unlikely pairing, but the last year witnessed an explosion in climate-focused fintech products and companies. The public’s focus on climate change is here to stay, which could continue … Read more
COVID-19 Accelerates the FinTech Revolution Fintech has long been on the rise, but could the novel coronavirus pandemic finally be the accelerant that makes financial technology the norm for everyone? Financial technology – FinTech – has become increasingly important to both consumers and businesses over the past six months. The onset of the coronavirus pandemic, … Read more
Here are 5 trends shaping the future of the Financial Technology (FinTech) industry. Invisible Payments Consumer Education Multi-Service Platform Blockchain and Big Data Localization and Regulations The fintech industry is reassessing itself at every level. New moves and continued initiatives are accounted for and closely monitored by both customers and regulators. Fintech companies are at … Read more
Aritra Chakravarty, founder of London-based online accounts and investments provider Dozens, admits it’s a tough time to be seeking up to $19 million for a start-up. Chakravarty is seeking funding for Project Imagine, the company behind his fintech ventures. He is looking to crowd funding and government-backed COVID 19-support schemes for technology firms to make … Read more
Mastercard is buying another fintech, this time scooping up Finicity in a transaction valued at nearly $1 billion. Mastercard (ticker: MA) has agreed to pay $825 million for the data aggregator. Finicity’s shareholders also have the potential to receive $160 million in earn-outs if performance targets are met, according to a statement. The company says its acquisition … Read more
It is the greatest magic trick in modern history. A string of fintech and crypto companies across the globe collapse and seemingly lose track of billions of dollars, but the blinding glow of technology continues to mesmerize everyone to the risks. The contrast in the financial services industry is stark. Banks are not permitted to … Read more
AI in Fintech Market to Reach $22.6 Billion by 2025, but Most Fintechs Still Prefer In-House Over Buying AI Software from Third Parties The global AI in Fintech market was valued at about $6.67 billion last year and is now projected to reach $22.6 billion by 2025. As noted in ResearchAndMarket’s recent report, the AI … Read more