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Weekly Research Highlights – 3 November 2020

As a follow-up from last week, we present you further trends and statistics from the fintech research sector. Building up on public digital currencies, suptech & regtech, AI, InsurTech, digital assets, debt repayments and lendings, we further documented new potential points of interest for you. This week we showcase an overview of current challenges faced by the fintech sector amid Covid-19, dive into the Portuguese ecosystem, self-service and personalization-as-a-service for banking, customer authentication, investments, regulatory frameworks and climate change initiatives for finance. Enjoy the materials!

Challenges faced by the fintech sector amid Covid-19

A report from Plaid, “The Fintech Effect: Spotlight on COVID-19”, highlights the major challenges that fintech has been undergoing, and also the economic impact on financial services. The tools provided by the fintech industry helped boost the way people are managing their financial lives, despite the challenges imposed by the new climate. As main findings, the survey shows that in the US, fintech adoption is accelerating amid the global COVID-19 pandemic, with most people viewing fintech as their “new normal” for managing money. Read more

Current state of the Portuguese fintech market

In a late study, “Portugal Fintech Report 2020”, an overview of the Portuguese fintech ecosystem is provided. The findings report industry statistics, as well as a reflection on the main drivers and trends, bringing the insights of experts alongside real examples of partnerships, and listing the top 30 Portuguese fintechs in 2020 to watch out for. Read more

Personalization-as-a-Service for banking & finance

Finextra, FICO and Amazon Web Services (AWS) showcase in their most recent study on Personalization-as-a-Service for the banking and payment industries, the importance of presenting clients with customized offerings and solutions. As such, results find that 33% of consumers expect specialised treatment for loyalty and anticipate rewards for past interactions. However, many current financial institutions fail to notice the relevance of personalization, leading to clients re-evaluating their providers. One solution to regain customers’ interests is to be proactive and anticipate customers demands and needs in the current digital age. Read more

Fintech & DFS Regulatory Frameworks

“The Global Covid-19 FinTech Regulatory Rapid Assessment Study” conducted by World Bank Group and Cambridge Center for Alternative Finance shows how Covid-19 is impacting financial regulators’ approach to fintech and digital financial services (DFS). The report highlights the need for a legal and regulatory framework for the growth of the sectors and their ability to advance financial inclusion. Following a quantitative and qualitative method of analysis, the report gathered data from over 118 regulatory authorities in 114 jurisdictions around the world, encompassing central banks, securities and capital market authorities, insurance regulators and other regulatory and supervisory authorities in order to present a complete overview on the regulatory innovation initiatives. Read more

Fintech Q3’20 Investments Overview

“The State Of Fintech Q3’20 Report: Investment & Sector Trends To Watch” by CB Insights investigates global fintech investment trends in finance, new partnerships and collaborations, transactions, and top deals. As main findings, the synthesis shows that the 25 mega-rounds analyzed by the study for Q3’20 ($100M+ deals) accounted for 60% of total fintech funding. However, deal activity declines for the fourth consecutive quarter, down 24% year-over-year (YoY). Read more

Climate change initiatives implementation for business and finance

The “Task Force on Climate-related Financial Disclosures: 2020 Status Report” by Task Force Climate-Related Financial Disclosures (TCFD) shows a series of recommendations on how to take into consideration the effects of climate change and integrate the information into the business routine and financial decisions, and also how to progress towards a more sustainable, lower-carbon economy. With climate change becoming an increasingly important issue for the private sector, investors, lenders, and insurance underwriters need to develop better strategies and decision-making initiatives. Read more

Q3’20 fintech market updates

The “CEO Monthly Market Update & Analysis” by FT Partners includes latest highlights on fintech Q3’20, historical fintech financing, IPO, M&A volume and deal count statistics. The findings also show the most active fintech investors, corporate VC activity and strategic investor participation, fintech sector breakdowns, regional statistics, and other industry trends. In addition, the study also includes detailed analysis of the InsurTech sector and the healthcare payments domain. Read more

Future perspectives on Insurance

“The future of life insurance: Reimagining the industry for the decade ahead” report by McKinsey offers advice and solutions that insurers can implement in practice in order to enhance their offerings and attract customers’ attention. The findings highlight three areas where insurance companies can focus on, in order to experience maximum benefits for the upcoming period, such as: personalization of customer experience, development of flexible product solutions and reinventing skills and capabilities. Read more

Insurance trends Q3’2020

According to CB Insights, the insurtech industry sees a recovery, with further 104 deals closed and over $2.5B raised. As key findings, the analysis shows that for Q3, the early-stage deal share grew to 57% — returning to pre-Covid levels, India overthrows China in terms of funding rounds, a disproportionate amount of L&H startups raised large rounds, and commercial insurtechs are gaining more investor traction. Read more

Digital Financial Service Usage Among Women in India

Based on studies conducted by MSC and BSR’s HERproject, the financial behavior of low-income women in global supply chains highlights the lack of financial inclusion progress in India. In order to build and educate the female workers’ knowledge, it’s important to provide them with the right skills and confidence in order to adopt and use technology. Read more

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