Weekly Research Highlights – 5th October 2021

For this week’s research article, we explore the topics of digital payments, InsurTech, cloud, household finance and financial institutions. Discover the most relevant statistics and enjoy the selected materials!

Finance Minister of India Releases UN Report at Global FinTech Fest (Yahoo Finance)
Smt. Nirmala Sitharaman, Honorable Minister of Finance and Corporate Affairs, Government of India, released the UN Report on Responsible Digital Payments that revolves around good practices for financial consumer protection, putting users at the center of payment digitisation, especially women and people living in rural areas. She unveiled the report at the Global FinTech Fest on 28 September. Read more.

World InsurTech Report 2021 (Efma)
Capgemini and Efma realized The World InsurTech Report 2021, which explores the impact of exponential InsurTech growth and customer adoption on the insurance industry. They discover how insurers address this trend and should prepare for two scenarios, that can be  predicted in the InsurTech era. Read more.

Payments Modernisation: The Cloud Imperative (Volantetech)
Researchers at Volantetech realized a survey, conducted in early 2021, aimed to quantify trends in payments modernisation, cloud and ‘as-a-service’ delivery models for account-to-account payments. The paper also assesses the impact of the COVID-19 pandemic on financial institutions’ own operations, and on the needs and expectations of their customers, and the adoption rate of various domestic and cross-border payment networks. Read more.

Despite the Digital Move, People Still Want Their Banks To Have Branches Finds Toluna (Fintech Times)
Francis Bignell, analyst at Fintech Times highlights the Toluna Financial Services Sentiment Indicator (FSSI) bi-annual study, which explores key issues related to the UK population’s personal and household finances, attitudes towards financial institutions in the UK and behaviours in relation to personal finances. The latest research surveyed a nationally representative sample of 1,081 members of the UK public. Read more.

The Future of Banking Is People, Not Products; Finds Temenos Report (Fintech Times)
Tyler Smith, analyst at Fintech Times, explores the fact that over the course of the next 4 years, 81% of bankers agree that financial institutions will seek to differentiate the customer experience they offer rather than their products and services. This is according to the findings of a newly-published report by the banking software company Temenos, which underscores the importance of customer experience in light of recent long-term structural changes to customer banking behaviour that have been triggered by the pandemic. Read more.

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