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Weekly Analysis and Opinion Highlights – 11 April 2022

And we’re kicking off the week with new details on crypto, money transfer, fintech funding, payment process, debt crisis and more. Dive into the latest fintech insights and have a great start of the week!

Apple ID, not Apple Pay, will be the gamechanger 
We’re all familiar with Apple Pay and Google Pay and how much easier (and more secure) they make online payments, but if Apple or Google really want to replace my wallet, that means that they have to replace my driving licence, my loyalty cards, my rail discount pass, my blood donor card, my AA membership… well, you get the point. And in the real world, I only have twenty or thirty of those cards but in the virtual world I have hundreds if not thousands. Replacing the payment cards was easy. Replacing the identity cards is hard. But in the long term, it’s much more valuable. Read more.

How new technology is changing the face of fraud detection in neobanks (Fintech Future)
In 2018, there were just 60 worldwide challenger banks in operation. Today, that number has skyrocketed to nearly 300, and as exciting as the new landscape is, the strain is beginning to show. Digital banks are laser focused on creating fast, simple, frictionless customer experiences, from applications and approval processes to lightning-fast account access. Now, instead of timing how long it takes to fill out an application in terms of minutes, banks are measuring down to the clicks required to successfully apply for a product, shaving milliseconds off of their customer experiences to outdo their competitors. Read more.

Top Wall Street analysts say these stocks are the best for long-term growth (CNBC)
Stocks were volatile in the past week as investors digested the Federal Reserve’s plans to tighten monetary policy. Investing in the near term looks precarious as investors weigh recession risk, supply chain disruptions and the conflict in Eastern Europe. Further, the Fed’s plans, detailed in its March meeting minutes last week, shed more light on how the central bank will shrink its balance sheet. Wall Street’s top pros have set aside short-term stock gyrations. Instead, they’ve chosen the companies they believe have the most long-term potential, according to TipRanks, which tracks the best-performing analysts. Read more.

Bank Deposits to See 80-Year Decline as Consumers Move Cash Stockpiles (PYMNTS)
U.S. banks might see deposits decrease for the first time in several decades, The Wall Street Journal wrote Sunday (April 10). The last two months have seen bank analysts cutting their expectations for deposit levels at big banks, with the 24 banks making up the KBW Nasdaq Bank Index, the benchmark, are likely to see a 6% decline in deposits this year. Those banks make up almost 60% of what was $19 trillion in deposits in December. Analysts don’t know if there’ll be a full-year decline, but even the possibility was not a consideration just months ago. A decline would mark the first time since at least World War II. Read more.

Unbundling the core in the cloud: the perfect architecture for future-proof banks (Fintech Future)
The speed of innovation in the fintech space requires banks to break free from their core limitations and offer new products in months, not years. The burden of monolithic 30-year-old mainframe systems is dragging banks down from being able to play their new role in the fast-changing landscape of financial services. To perform and thrive, agility is the need of the hour for banks. The monolithic core needs to be unbundled into functional Lego blocks, to help banks assemble unique brands and services on the fly. Read more.

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