Weekly Research Highlights – 17 November 2020

Weekly Research Highlights – 17 November 2020

Weekly Research Highlights – 17 November 2020

For this week’s research piece, we further bring you the latest numbers and statistics in order to keep you up to date with the latest trends. We focused on innovations, retail banking, cloud systems, US fintechs to watch out for, the aftermath of the first Covid-19, RegTech, digital payment schemes, and a comprehensive financial literacy guide. Enjoy the materials!

Innovation & Retail Banking

In a report conducted by Efma, Infosys Finacle and The Financial Brand, an overview in terms of how banks are adapting to the changes imposed by Covid-19 is presented. Gathering responses from over 750 senior banking executives over the world, the study highlights important topics, such as the shift in terms of technology innovations, digital transformation for financial institutions, best solutions and practices for banking, the benefits and challenges when innovating. Read more

The Gulf Cooperation Council (GCC) and Banking Industry

“GCC Banks: Lower Profitability Is Here To Stay” report by S&P Global Ratings highlights the challenges facing the banking industry, due to the economic recovery and the gradual withdrawal of regulatory forbearance measures. As main findings, the report suggests that a protracted economic recovery in the Gulf Cooperation Council (GCC) countries translates into a stagnant lending increase rate in the next one to two years, and a fast decline of banks’ asset quality. Read more

Leveraging the power of the Cloud for financial services

A recent study by Finextra Research in association with Mambu and Amazon Web Services (AWS) reports that cloud migration system is an essential step for banks or payment providers. Due to the fact that the process varies from business to business and is complex, financial institutions need to form partnerships and collaborate with the right cloud service providers, and the right technology partner to ensure a successful transition. One consideration that still remains to be explored is the security and compliance for the firms adopting cloud systems. Read more

US Fintech Startups Map Overview

According to CB Insights, the US is seeing a rapid development of fintechs across sectors such as payments, investing, and insurance. Various fintech companies are filing for IPOs, going public, or getting acquired, including: Lemonade (InsurTech), Opendoor (iBuyer), nCino (cloud software). By collecting data from 44 US startups, CB Insights reports that over $12.2B has been raised in equity funding. Read more

First wave of Covid-19 and Fintech status

A new survey by The Fintech Power50 shows how a cross-section of fintech businesses, such as payment processors, digital banks, and mobile payment platforms have coped with the first wave of the pandemic. Many companies report that the biggest obstacles have been to work remotely and onboard new staff members. Other highlights and trends include a drop in travel insurance, and the increase in demand for personal finance management solutions. Read more

RegTech Investment Status Update Q3’20

According to Fintech Global, the RegTech sector is experiencing its first decline in terms of investments since 2015. In Q3’20, RegTech companies raised $5.1bn across 221 deals. This period further saw a 3.4% decline in total funding compared to the same period last year, along with a 4.3% decrease in deal activity. In addition, the report argues that this demise is expected to continue, as investors are being more cautious and reassessing their investment deals. Read more

Digital Payment Schemes across banks and fintechs

“Fintech in Europe: Promises and Threats” study by the International Monetary Fund (IMF) highlights the growing trend of digital payment schemes, which are expanding within EU countries, although cross-border and pan-euro area instruments are not yet popularized. With minimal regulations to proceed, fintechs are acquiring balance sheets and forcing banks to innovate and adopt innovative tools and technologies. Moreover, Covid-19 offers fintechs the opportunity to fully take advantage of their existing market position, and further  acknowledge the structural shift in demand toward virtual finance. Read more

Financial Literacy Guide

The OECD Recommendation on Financial Literacy provides a comprehensive guide of steps and advice on financial literacy to assist governments, other public authorities, and relevant stakeholders in their efforts to design, implement and evaluate financial literacy policies. The study touches three main areas to be addressed: national strategies for financial literacy, financial literacy regarding the financial landscape and effective delivery of financial literacy programmes. Read more

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Curious to read and find out more from fintech? Then subscribe & read our full newsletters here: https://hollandfintech.com/featured/newsletters/. In order to see our other weekly highlights, see the following links: funding, analysis & opinion, news.

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