Weekly Analysis & Opinion Highlights – 30 November 2020

For this week, we bring you expert voices and opinions from fintech industry leaders. We look at how Google Pay will contribute to a downward spiral for P2P payments, find more on improving CX with customer identity and access management (CIAM) tools, analyze the shift from CeFi to DeFi, take a sneak peak on the implications of Brexit for Open Banking, gather the latest information on RegTech, and try to find an answer the question “How much debt is too much?”.

Enjoy the reading! 

Will Google Pay be the end of P2P payments?

Google Pay on the web will soon kill off peer-to-peer payments (XDA)

According to Brandon Russell, writer at XDA, Google Pay is moving ahead into the US market, with only an app format from 2021 onwards. The mobile app supports existing features like tap-to-pay and peer-to-peer transfers, and has further updates in terms of PFM and more. With a simple feature like peer-to-peer payments disappearing from Google Pay on the web, the new experience on mobile will make up for it. Read more

Improving CX with customer identity and access management (CIAM) tools…

How to improve CX without sacrificing security (Fintech Futures)

Dustin Maxey, product and solution leader at Ping Identity, highlights the importance of accommodating clients’ needs within the retail banking sector. The move to e-banking makes the customer experience of critical importance, thus also more pressure is being put on customer identity and access management (CIAM). Read more

From CeFi To DeFi: How Banking And Investing Are Evolving At Warp Speed (Forbes)

Lawrence Wintermeyer, co-founder & principal at Elipses, emphasizes an upcoming shift for the financial markets, with millions of people leaving the traditional centralized financial institutions (CeFi) for decentralized finance (DeFi). This migration of capital to DeFi protocols has added up to $14 billion worth of digital assets ‘locked’ into projects, with around 150k Bitcoins now locked onto the Ethereum network. Read more

Implications for Open Banking post-Brexit…

Brexit: what next for Open Banking? (

Paul Marcantonio, executive director, UK & Western Europe, ECOMMPAY, identifies the uncertainties lying ahead for the UK firms and their capacity to deliver open banking offerings onto the EU market in a post-Brexit world. The main struggle that businesses face when preparing for this shift is the provision of a seamless digital experience for customers. In terms of  the UK Open Banking standard, which is broader than the EU’s PSD2, experts think that the UK standard may be used as a global blueprint. Read more

Fintech Integration…

2020 has proven that fintech integration will gather pace (Fintech Bulletin)

Amid Covid-19, Steve Taklalsing, UK Managing Director & CFO at Amaiz Business, reports a growing trend in terms of fintech, which regards technology adoption rates among different target groups. As such, the first challenge that fintech managed to overcome was convincing two unlikely groups to adopt cashless payments, namely older people and micro business owners. Furthermore, the rapid developments in biometrics have made security more seamless, and the introduction of 5G is expected to further change mobile networks and consequently, give rise to new fintech opportunities. Read more

Regulations & Compliance…

Less regulation, better supervision (Eiopa)

In a speech given by Fausto Parente at the Annual Conference of the Associazione Europea per il diritto bancario e finanziario, more soft regulatory tools and better supervision tools to check how regulation is applied are needed in today’s economic climate. In terms of effective supervisory tools, EIOPA’s supervisory toolkit provides guidelines and recommendations in order to ensure an uniform application of EU law and/or common regulatory or supervisory practices. Read more

What’s in store for pensions?

EIOPA Q&A: Interview Gabriel Bernardino for European Pensions (Eiopa)

In a recent interview with the European Insurance and Occupational Pensions Authority (EIOPA) chairman, Gabriel Bernardino, topics regarding Pan-European Personal Pension Product (PEPP), improved data harvesting, and the organisation’s future projects are discussed. With digitalization gaining a prominent role in people’s lives, the PEPP project plans to communicate, interact and attract new audiences, such as the younger generations, in an online format. Read more

On Debts…

How Much Debt Is Too Much? (Project Syndicate)

According to Raghuram G. Rajan, former governor of the Reserve Bank of India, governments have now the upper hand when it comes to today’s ultra-low interest rates to borrow and spend without limit in order to support the economy. Starting with Covid-19, governments acted accordingly to support households and small businesses, which led to spending between 15% and 20% of GPD in many instances. Advanced economies are seeing a trend that typically encourages consumers to spend, but not necessarily higher revenues. Thus, the next few years might see higher inflation rates. Read more

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