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563

What’s Driving The Digital Banking Boom In Latin America

Via Crunchbase News 

High smartphone penetration in Latin America is the key factor driving digital banking and financial inclusion in the region. One of the most prominent fintechs is Brazil’s Nubank, which is the largest digital bank outside of Asia and the highest-valued digital bank in the world. Mexico and Argentina are two other fintech ecosystems with albo and Ualá attracting much attention. 

The major trends that are influencing Latin America are: increased focus on small business banking, regulatory initiatives, bank-fintech collaborations and China’s banking services as a source of inspiration for Latin American fintechs.  (more…)

Analytics, Banks, Mobile-first banks

September 8, 2019

451

Digital banks on track to treble customers . . . but profits harder to come by

via AltFi

Digital banks based in Britain are expected to almost triple new customers across the globe to 35 million, according to a new report.

New banks such as Revolut, Monzo and Starling will see their ease of use, lower operating costs and widening customer profiles drive new accounts across Europe and the US, said new research from professional services firm Accenture. These banks currently have around 13 million customers, which has more than doubled over the previous 12 months. (more…)

Analytics, Banks, Global trends

September 3, 2019

972

Neobanks’ have secured a record $2.5 billion in funding this year

via Business Insider

The first half of 2019 is proving to be a lucrative one for neobanks, which raised $2.5 billion this year through the end of July across 55 deals, reports Business Insider citing CB Insights data. (more…)

Analytics, Banks, Mobile-first banks

August 15, 2019

1043

What Prevents Full Digital Onboarding Among APAC Banks?

via finews.asia

While digital transformation is underway among financial institutions in Asia, they face several roadblocks, with changing regulations, digital KYC/AML and legacy infrastructure among major barriers to successful implementation. (more…)

Analytics, Banks, InspirAsia

June 6, 2019

761

As Challenger Banks Grow In Popularity, Incumbents Must Innovate

via Fintechnews Singapore

Using technology and digital channels, challenger banks are reimagining banking, delivering superior digital customer experience and challenging incumbents to reinvent themselves.

These are growing in importance and incumbents must “transform themselves from slow moving caterpillars to agile butterflies,” according to a report titled Bank X: The New New Banks by Citi Research.

These challenger banks that are also sometimes referred to as neo banks, are designed around meeting current customer expectations and leverage data insights to offer better personalization and fully digital banking experiences. (more…)

Analytics, Banks, Global trends

May 28, 2019

1299

New study: Challenger banks overtake traditional banks in customer satisfaction, in 4 charts

via Tearsheet

Challenger banks have leapfrogged to the forefront in overall customer satisfaction, according to a new study from FIS.

The 2019 FIS Performance Against Customer Expectations (PACE) surveyed almost 1800 US consumers.

Customers increasingly like challenger banks

63 percent of direct bank customers report being “extremely satisfied”, compared to 52 percent of credit union customers and just 19 percent of customers of the top 50 global banks. (more…)

Analytics, Banks, Mobile-first banks

April 17, 2019

833

New Challenges, Competitive Threats Sharking Financial Waters

via The Financial Brand

In banking, there’s no shortage of new challenges and competitive threats keeping financial marketers up at night. Facing increasingly intense pressure, traditional institutions are innovating faster than ever. (more…)

Analytics, Banks, Global trends

April 15, 2019

859

Supply Chain Finance Stumped By KYC

via PYMNTS

The Asian Development Bank’s estimates that the global trade finance gap has reached $1.5 trillion has jumpstarted a new wave of competition between banks and FinTechs working to address the biggest challenges to landing capital in the hands of global traders.

FinTech has identified a particularly large opportunity in the trade finance market, pegging traditional banks as too slow to innovate, without the agility to manage the complex processes often linked with financing trade with smaller businesses. Banks’ massive compliance burdens cannot be ignored, either.

However, analysts also note that FinTechs have their own regulatory requirements as well (albeit, often much lower than those of banks), and because they aim to address the financing gap for smaller businesses seen as less lucrative by banks, the due diligence burden is lofty as well. A 2017 report by the Asian Development Bank found that, despite its efforts, FinTech had not yet made a dent on that global trade finance gap. (more…)

Analytics, Banks

April 15, 2019

915

Chase On Gen Z, Mobile Banking — 10 Years In

via PYMNTS

With more consumers than ever interested in fulfilling all their financial needs on mobile, both legacy banks and FinTech firms are focusing on creating digital-only banking services, designed to catch and keep customers using their smartphones to bank. What’s more, financial institutions (FIs) and payment providers around the world are trying their hand at providing all the capabilities of an established bank on the smartphone.

As consumers flock to banking apps, succeeding in the world of digital banking is not as easy as it used to be when mobile apps emerged a decade ago. In the new Digital Banking Tracker™, PYMNTS examines how startups are competing with legacy brands, social media services and even eCommerce companies that want to add financial capabilities to their platforms. (more…)

Analytics, Banks, Mobile-first banks

April 10, 2019

455

Open Banking Is a Reality for Some Commercial Banking Customers

via Accenture 

Open Banking is now a major global initiative. European Union regulations including the second Payment Services Directive (PSD2) are pushing banks to provide access to account information and to make it possible for third-party suppliers of payment services to make direct connections with banks’ customer accounts. (more…)

Analytics, Influences FinTech

March 19, 2019

Banking on Millennials: Balancing Branch Preferences And Digital Expectations

Via The Financial Brand 

Knowing what’s really important to consumers is critical to acquisition, retention and cross-selling in the banking industry. But Millennial stereotypes frequently fool financial marketers, muddling their marketing strategies with faulty assumptions. Turns out they love branches just as much as Gen X and Baby Boomers. And all generations share one thing in common: They expect more, particularly in digital channels.

(more…)

Analytics, Banks, Global trends

October 13, 2018

3837

HSBC highlights the six new banking careers of the future

HSBC is preparing for the ongoing revolution in banking, highlighting six new types of jobs that will be necessary to forge a career in a digitally-enabled financial services industry. (more…)

Analytics, Global trends

July 6, 2018

Blockchain Technology Sector Overview — Q1 2018

by Venture Scanner – research

The Blockchain Technology sector has seen a lot of buzz in the news, as the price of cryptocurrencies has seen large ups and downs over the last year.

(more…)

Analytics, Blockchain, Fintech news, Global trends

May 3, 2018

1327

UK and US banks in danger of losing SME customers to digital competition

By FIS,

A new study from financial services technology leader FIS™ (NYSE: FIS) has identified key gaps in the performance of larger U.S. and U.K. banks in serving the needs of their critical small and mid-sized business (SMB) client base. (more…)

Analytics

May 2, 2018

1437

EY Unveils New Blockchain Audit Technology

EY announced on Monday the launch of its new blockchain feature, EY Blockchain Analyzer. The company described the feature as a suite of blockchain audit technologies that enhances the ability to perform an in-depth review of cryptocurrency business transactions. (more…)

Analytics, Blockchain, Fintech news, Global trends

April 25, 2018

1405

Raisin moves into investments with ETF portfolios

Berlin-based savings startup Raisin is entering the retail investment market through a tie-up with asset manager Vanguard to add ETF portfolios to its German product offering. Investors can choose between four portfolios made up of ETFs and index funds with an equity share of 30, 50, 70 and 100 per cent respectively and invest in up to 16,000 individual securities globally. (more…)

Analytics, Fintech news, Hotnews, Wealth management

March 27, 2018

1168

Europe emerging as global InsurTech hub – Accenture

By Accenture

Global investment in the insurance technology (insurtech) industry surged in 2017, with Europe emerging as a new insurtech hub outside the U.S., according to new research from Accenture (NYSE: ACN). (more…)

Analytics, Global trends, Insurance

March 22, 2018

1219

Building A Good Cryptocurrency Model Is Harder Than You Think

By Daniel Chen, Founder at OpenToken, lead engineer at Andreessen Horowitz, Caltech Computer Science, Economics

As cryptocurrencies have exploded in value, so too have the attempts tounderstand them. Even more exciting is a recent uptick in quantitativeanalysis. Spreadsheet models have risen in popularity as a tool for evaluating and predicting trends. (more…)

Analytics, Cryptocurrencies, Global trends

March 19, 2018

1306

Jack Dorsey: Square Will Go Further With Bitcoin Than Buy/Sell Option

Jack Dorsey, CEO of San Francisco-based payment service Square, revealed the company’s plans to focus on developing increased options for Bitcoin (BTC) use in a conference call Tuesday, Feb. 27 with Market Watch. (more…)

Analytics, Blockchain, Hotnews, POS/mPOS and online acquiring

March 1, 2018

1464

Dropbox S-1 Analysis – The King Of Freemium

By Tomasz Tunguz from Redpoint Ventures for his blog

Founded in 2007, Dropbox epitomizes the freemium go-to-market. Dropbox has grown from 0 to 500 million users over that time period. 2% of those users convert to paid and pay an average of $9.33 per month. 90% of revenue originates through self serve channels – an astounding figure for company that generated more than $1B in revenue last year. (more…)

Analytics

February 26, 2018

Why does Sweden produce so many startups?

By World Economic Forum,

John McKenna, Formative Content

(more…)

Analytics, Global trends, Government activities

February 26, 2018

UK fintech hoovered up record-breaking VC investments in 2017

Venture capital investment in UK fintech firms more than doubled in 2017 to reach $1.8 billion, with 54% of the total coming from overseas VCs who appear largely untroubled by the UK’s imminent break from the European Union. (more…)

Analytics, Global trends

February 8, 2018

2084

1788

McKinsey: Banks Cannot Afford to Wait Any Longer as Digital Entrants Impact Bank Performance

McKinsey recently published a report on the global banking industry. While stating the financial recovery has helped old finance regain their footing the future is not quite so clear. According to the authors; (more…)

Analytics, Banks, Global trends, Hotnews

October 30, 2017

2210

The Rising Stakes In SaaS

By Tomasz Tunguz from Redpoint Ventures for his blog

Last week, I participated in two discussions about the changes in the SaaS world. I believe they are fundamental. The most important force shaping the industry today is competition. The level of competition in many core SaaS segments is intense. (more…)

Analytics, Columns

October 23, 2017

1470

JD.com: Unprecedented Growth Ahead

By David Krejca for Seeking Alpha

Summary:

JD.com is a rapidly growing Chinese e-commerce business which has underperformed compared to its peers.

This might change soon and the company is expected to turn profitable this year and trades at an extremely low price-to-sales multiple.

My valuation model suggests that JD’s shares could appreciate by as much as 70 percent annually over the next three years.

(more…)

Analytics, Global trends, Hotnews, InspirAsia

October 23, 2017

Amazon vs Alibaba: the R&D spending war

By Steven Millward for Tech in Asia

Alibaba this week announced a big push to do more research and development, ploughing US$15 billion into new innovation over the next three years. Here’s how that stacks up to what Amazon is already doing. (more…)

Analytics, Fintech news, Global trends

October 16, 2017

1733

Engaging customers: The evolution of Asia–Pacific digital banking

By Vinayak HV, Stuart Kamp, Sergey Khon, and Gillian Lee for Mckinsey Insights

Consumers across the region are adopting digital banking. Our latest study finds banks must act quickly to take full advantage. (more…)

Analytics, Columns, Fintech news, Global trends, Hotnews

September 21, 2017

1555

In Asia Pacific, Cash Usage Swell With Growth of ATMs

By PYMNTS

In the Asia-Pacific, cash is fighting tooth and nail with emerging digital payment methods and is seemingly winning the race. (more…)

Analytics, Hotnews, InspirAsia

September 18, 2017

Envestnet/Yodlee debuts AI-based FinCheck Wellness app

By Envestnet / Yodlee

Envestnet | Yodlee (NYSE: ENV), a leading data aggregation and analytics platform powering dynamic, cloud-based innovation for digital financial services, is demonstrating its vision of the Artificial Intelligence (AI) FinCheck app at FinovateFall in New York City. (more…)

AI / Machine Learning / Big Data, Analytics, Deals, Fintech news, Global trends

September 13, 2017