Weekly Analysis And Opinion Highlights – 24 October 2022

And we’re kicking off the week with new analysis and opinions on investing, ESG framework, open banking, metaverse and more. Dive into the latest fintech insights and have a great start of the week!

Is ESG here to stay? (Global Fintech)
The ESG movement has grown massively over the last few years, with a focus on environmental and social issues skyrocketing up the global agenda. The focus around it hasn’t always been positive, however. For example, US states such as Idaho, West Virginia and Florida have all deterred state and school pension funds from investing in ESG products or businesses. With some embracing ESG and others attempting to banish it, the question many in the industry are asking is: is ESG a fad or the future? In a recent post, RegTech firm Diligent explained why it believed ESG was here to stay, and why it should be an important part of any company’s strategy going forward. The company cited a 2019 Harvard Business Review survey that found ESG issues were ‘almost universally top of mind’ for the investment and asset management sector. Since then, not much has changed – with the industry jumping further into support for ESG. Read more

Fintech for good: how industry is addressing ESG concerns (Fintech Magazine)
ESG is a hot topic within the fintech sector as new initiatives and fintech policy continues to look toward green and sustainable finance, in addition to the long-time lauded positive social impact by many fintechs. There are many ways in which fintechs are addressing these important topics – by the way they act, the way they operate or the fundamental purpose of their business and proposition. In this article Fintech Magazine takes a look at some examples of the way in which fintechs are demonstrating positive change in society that addresses or solves social injustice, and the steps UK government, regulators and fintechs are taking to ensure a greener future for the financial services sector. Of course, fintechs have no monopoly on supporting positive ESG initiatives and significant activity by the very largest asset managers and financial institutions to adapt to ESG principles are to be hugely welcomed. Read more

How ‘Banking for Tomorrow’ will look like (The Paypers)
With the banking system facing mounting pressure to change, Jeroen de Bel, Founder and Director of the strategy consultancy Fincog shares what ‘Banking for Tomorrow’ will look like in the company’s newest report. Ever since the 2008 financial crash, the banking system has been facing mounting pressure to change. But amid today’s perfect storm, on the back of disruption and a fresh wave of economic uncertainty, the sector could emerge as a better, more purposeful global force, according to the new ‘Banking for Tomorrow’ expert report by Dutch strategy consultancy Fincog. Read more

Let’s Partner! A Win-Win-Win For Fintechs, Banks and Customers (The Fintech Times)
Gone are the days when consumers have to accept whatever their provider offers. With consumer choice more prevalent than ever, companies must tailor themselves to their customer base to drive future growth. The 2022 edition of the Fintech State of the Union, an annual research study from 451 Research (part of S&P Global Market Intelligence) and global payments brand Discover® Global Network shows that companies with the best interactions with their customers are those that are not afraid to partner with others to deliver a ‘perfectly’ personalized product. The recent digital wave has seen a huge increase in new alternative payment methods as consumers demand better, more instantaneous access to their finances. More than three in four (78 per cent) consumers have used a digital payment service (such as digital wallets, P2P payment apps, buy now pay later (BNPL), or QR/barcode payment apps) in the past 90 days, according to the study. Read more

Managing fintech customers well in the cost-of-living crisis (Fintech Magazine)
There is no way to sugar-coat the current financial nightmare facing consumers. With interest rates rising, inflation hitting double digits for the first time in forty years, and incomes falling in real terms, debt charities are warning that people on low incomes are under real financial pressure. People are faced with impossible choices trying to cover essential costs — including food, rent, energy, and council tax — with concerns that some households will be forced to decide between “heating and eating”. It is against this increasingly bleak backdrop that the collections industry is preparing to face what could turn out to be its biggest challenge. After all, it is credit and collections teams that are on the front line when it comes to dealing with people with money problems. Read more

And we’re kicking off the week with new analysis and opinions on investing, open banking, metaverse and more. Dive into the latest fintech insights and have a great start of the week!

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