Latest KPMG report, “How financial institutions are embracing fintech to evolve and grow”, presents the fintech industry as a major business disruptor for financial services. The main challenge explored in the study regards companies adapting and integrating the fintech innovations, keeping up with the customers’ demands, being faster and more cost-effective. KPMG proposes a guide on how financial institutions can integrate fintech, by focusing on redefining the initial business strategy and goal alignment. Read more
For the last period, Netherlands has seen a decline in offline and online purchases from “heavy shoppers”, according to After Pay Insights. The analysis shows that the main reason for the shift in consumer behavior is due to uncertainty regarding the financial situation, making people more cautious and saving up money, thus buying less. The motivations behind purchases also shifted in consumers in times of Covid-19, with people moving more towards online shopping, which presents benefits such as cheaper prices. Read more
BusinessFinancing.co.uk analysed 10,000 FinTech startups to find the industry’s hot spots. As part of the conclusion, the top fintechs in each continent belong to a different sector. SoFi in the US is North America’s highest-valued outfit, and it’s a personal finance company. OPay in Nigeria, Africa, is a $170-million (€143m) mobile payments platform. Riskified is a Middle Eastern risk management firm, based in Israel and backed with $228m (€192m). Moreover, new models of lending and spending attempt to ‘disrupt’ the unwelcomed finance industry practices of yesteryear. Read more
Business bank Allica Bank has combined data and insight from over 1,000 UK SMEs with a multiple regression analysis to determine what factors most closely aligned with an SMEs’ chances of success and separated the highest-performing businesses from their peers. The full report identifies six behaviours for small and medium businesses to follow, to maximise their chances of a successful Covid-19 recovery. Read more
The IFC report “Towards monitoring financial innovation in central bank statistics” has reviewed the state of affairs and outlined a targeted road-map to construct fintech statistics.The road-map consists of six steps, such as formulating a classification of fintech that encompasses the various financial market segments of fintech, listing fintech enterprises, linking these lists to existing data in official statistics, intra- and inter-institutional cooperation, sourcing internet data and complement the resulting information with surveys or reporting. Read more
PWC’s “Financial Services Technology 2020 and Beyond: Embracing disruption” looks at new automation trends, blockchain technology, public cloud, and potential consequences of cyberattacks, fintech as the driver for a new business model and further advancement in robotics. Moreover, there is a need of alignment at an internal level for companies in order to successfully adopt these new technological innovations and to succeed in this rapidly changing landscape. As such, IT executives will need to agree with the rest of the management team on the posture they wish to adopt. Read more
Visa has released the Visa Back to Business study assessing the increasing shift to ecommerce in response to the COVID-19 pandemic. Nearly 78% consumers worldwide have changed how they pay in order to reduce contact and more than two-thirds of SMBs (67%) have tried a new approach – whether launching an ecommerce site or changing POS technology – to keep their business on track. Read more
White Stars Capital explores in their report, “Sector Overview: Fintech”, how fintech has changed the banking system, allowing for customer centric approaches, improving the UX, maintaining a higher level of transparency, and value-for-money. Currently, the second wave of fintech is in store, led by two new trends, more specifically, the development of core banking infrastructure and enabling technologies, and also the increased specialization of financial and insurance offerings. Read more
“The State Of Fintech Q2’20 Report: Investment & Sector Trends To Watch” by CB Insights features data from technology insights platforms. Fintech funding rebounds in Q2’20 but deal activity continues to fall. Fintech mega-rounds hit a new quarterly high of 28 as the largest companies in the space raised additional funding. Asia was the only continent without a dollar funding rebound in Q2’20. Read more
Digital currencies could be a long-waited solution to cut out the middlemen and reduce costs of transactions. Furthermore, according to Harvard Business Review, blockchain-based payment systems can bring the more than 1.7 billion people who are unbanked or underbanked (including 25% of U.S. households) into the formal economy.
Do you have any news to share: please put feed@https://hollandfintech.com/ on your press list.
Read here our other sections of this week:
- Weekly funding highlights 7 August 2020
- Weekly news highlights 7 August 2020
- Weekly analysis & opinion highlights 7 August 2020
Subscribe & read the full newsletter here: https://hollandfintech.com/featured/newsletters/