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Weekly Research Highlights – 6 September 2022

For this week’s research article, we dive into new insights on credits, investment, security and crypto. Enjoy researching!

Lloyds: almost 9 in 10 card payments now contactless (Finextra)
Nearly nine in 10 in-person debit card purchases are now contactless, according to data from Lloyds Bank. Spend on debit cards made in person using contactless technology has grown from 65% to 87% in the last three years. The growth of contactless has been accelerated by the Covid-19 pandemic, which prompted the limit to rise from £30 to £45 and then again to £100. Contactless is most popular in restaurants, where it is used for 93% of transactions and least popular in electrical stores (68% of transactions), where average purchase prices are high. Read more

European SMEs face challenges with payments speed, study shows (The Paypers)
Banking-as-a-Service provider Vodeno has issued a study showing that European SMEs have concerns about the speed of payments and the need to modernise the system. The survey was carried out on over 2,000 SME managers across the UK, France, the Netherlands and Belgium. Regarding international payments, 35% of respondents said that they take around 2 to 3 days to process. Only 11% of those surveyed said the process takes an hour, and only 10% that their payments and instantly processed. Over half (52%) said that the slow speed of payments processing meant they had failed to honour commitments. 54% said slow payments had led to cash shortages which had forced them to take out a loan. Read more

Is fraud outpacing fintech? (Fintech Futures)
The Justice Committee revealed that fraudsters scammed consumers out of a record £1.3 billion in the UK alone last year. This enormous sum is the result of fraud’s many guises as well as its wide range of targets, which includes everyone from individuals to businesses and governments. Fraud has seen enormous growth, particularly in recent years. Owing to a difficult economic climate and the transition to digital banking throughout the Covid-19 pandemic, by midway through 2021, online fraud saw a rise of 285% compared to the previous year. Read more

Future Fund shows benefits of alternatives, but it’s a crowded field (Euromoney)
Logging only a 1.2% decline over the past year is good going for Australia’s sovereign wealth fund, testament to a policy to build an inflation-ready portfolio relying heavily on private markets. Australia’s Future Fund is among the fastest sovereign wealth vehicles to report its performance, which makes it a useful leading indicator of the way that these vital institutional engines are performing in changing conditions. All funds are of course different, with variety in mandate and approach, but most face the same challenges of investing at scale for the very long term while riding out the changing conditions of the short term. Read more

6 out of 10 banks are demanding BNPL regulation, Credi2 study shows (The Paypers)
Austria-based Credi2 has released an embedded finance study, for which 120 decision-makers from banks were interviewed.
Credi2 is a DACH embedded finance solutions company in the area of ​​”buy now, pay later” (BNPL) and subscriptions. The fintech enables banks, retailers, and OEMs to offer modern sales financing solutions via their platform. Customers include Volkswagen Bank, Raiffeisen Bank International, and Apple. 23% of the banking world already offers BNPL and 39% are in the implementation or planning phase. However, in competition with non-bank financial institutions, over 60% of institutes are calling for the market to be regulated. Read more

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