For this week’s research article, we dive into new insights on fintech overview, digital payments and crypto. Enjoy researching!
A leaders view on the future of Anti Money Laundering in the Netherlands (Deloitte.)
2022 is the year in which the Dutch debate on the future of Anti Money Laundering (AML) accelerated. Multiple evaluations of the Dutch AML framework were published in the summer, and De Nederlandsche Bank (DNB) recently presented its renewed regulatory perspective on the fight against financial crime. To move towards a more effective AML approach, the views of AML leaders on the future of AML in the Netherlands are of importance. What are their thoughts on the gatekeeper role, effectiveness, collaboration, innovation, privacy and information sharing, and culture? Read more
Plaid report shows 84% of UK consumers rely on fintech to manage money (The paypers)
US-based Open Banking operator Plaid has published The Fintech Effect report that shows 84% of UK consumers use fintech for money management in 2022. Examining the way in which consumer financial behaviour is impacted by technology, the third annual report shows a broad fintech adoption rate across demographic groups, with consumers looking to tighten their finances against the cost of living crisis backdrop. Existing users’ reliance on fintech apps is increased by these financial concerns, while a new wave of fintech users that manage their finances digitally for the first time is being ushered in. Brits expect to digitally manage an approximate 72% of their finances over the next six months, an increase from the current 67%; those who are not using fintech as of now expect that they will manage 58% of their finances digitally over the same period, an increase from the current 52%. Read more
EIF Working Paper 2022/82, EIF Venture Capital Survey 2022: Market sentiment and impact of the current geopolitical & macroeconomic environment (EIF.org)
The EIF VC Survey, the EIF Private Equity Mid-Market Survey, and the EIF Business Angels Survey (the largest combined regular survey exercises among General Partners and Business Angels on a pan-European level) provide an opportunity to retrieve unique market insights. This publication is based on the results of the 2022 VC Survey, conducted by the EIF with the support of Invest Europe. The paper focuses on the market sentiment as well as the impact of the current geopolitical situation and difficult macroeconomic environment. The study looks at the current situation, developments in the recent past and expectations for the future. It highlights substantial challenges, but also opportunities as perceived by survey participants. The main results are summarised and compared over time. The publication provides a valuable picture of the developments in the VC market in 2022 as well as an outlook for the near future. Read more
2021 sees record joint MDB climate finance (European Bank of Reconstruction and Development)
Climate finance committed by major multilateral development banks (MDBs) rose by more than 24 per cent last year compared to 2020, according to the 2021 Joint Report on Multilateral Development Banks’ Climate Finance, published today. The 2021 total financing by multilateral development banks already surpassed the 2025 climate finance goals outlined at the 2019 UN Secretary General’s Climate Action Summit in New York. Those goals amounted to an expected collective total of US$ 50 billion for low- and middle-income economies, and at least US$ 65 billion of climate finance globally, with a projected doubling of adaptation finance to US$ 18 billion, and private mobilisation of US$ 40 billion. Read more
SaaS: The case for building a new banking business model (Finextra)
Banks are no longer only interested in building their infrastructure in order to serve their customers the best they can. Rather, they strive to position themselves as the orchestrators of API platforms. Software as a Service (SaaS) deployment models are the ideal tool to reduce the struggles faced by banks as their role evolves. SaaS models are highly effective, as they target some of the key challenges banks face in their efforts to digitally evolve while remaining competitive. An increasingly demanding customer base, competition from agile digital players, regulatory burdens and legacy technology are four of these significant hurdles that can be mitigated using SaaS. Not only does SaaS assist in managing these challenges, it can also equip financial institutions with the toolkit required to thrive in the future. Read more
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