Weekly Analysis And Opinion Highlights – 17 July 2023

And we’re kicking off the week with new analysis and opinions on fintech with banking, Artificial Intelligence, ESG, crypto, and more. Dive into the latest fintech insights and have a great start to the week!

Open banking, neobanks and Apple: The path forward (Fintech Nexus News)

The rise of neobanks and open banking is reshaping the banking industry, driven by increasing customer expectations. While neobanks initially posed a threat, many customers still prefer traditional banks for core services. Banks should look to industry leaders like Apple for inspiration, combining distribution power with customer experience. Open banking holds promise, but challenges remain, such as data access and customer education. To drive adoption, clear benefits must be demonstrated to customers. Embracing innovation and delivering exceptional experiences will shape the future of banking. Read more

How Semiconductors are Catalyzing the Growth of AI in Fintech (Fagen wasanni

Semiconductors are powering the growth of AI in fintech, providing the processing power and security needed for handling vast amounts of financial data. They are driving innovation and opening new possibilities, such as neuromorphic chips and quantum computing. Semiconductors are essential in the AI revolution shaping the fintech industry. Read more

Open Banking kicks off in Argentina: what’s next for banks and fintech? (The Paypers
Argentina is moving towards Open Banking with the introduction of “pull transfers,” allowing bank clients to send money directly from their accounts. This replaces the previous Debin system and aims to reduce fraud. Fintech companies and leading banks are participating in pilot tests approved by the central bank. The next step is to enable autonomous transactions between different accounts in the financial system. Read more

The rebranding of insurance claims: how insurers are modernising a once antiquated process (Fintech Global)

Insurers are modernizing the claims process with automation, AI, and customer-centric platforms. They are addressing challenges such as back-end bottlenecks and complex documentation requirements. InsurTech companies are driving innovation and digital transformation in the industry. Advanced analytics and IoT are enhancing claims handling, while AI and automation are revolutionizing efficiency and accuracy. The future of claims involves connected data, parametric insurance, and seamless experiences. Insurers aim to provide personalized support and a smooth claims journey for customers. Read more

Consumers prioritise experiences amid squeeze on finances (Fintech Magazine)
Consumers want better payment experiences and control over their spending. Despite tighter budgets, there is still demand for travel and online gaming. Trust and control are important factors in payment preferences. Debit cards are popular for takeaways, while credit cards are preferred for flights and holidays. Digital wallets and eCash are growing in usage. Deals and promotions incentivize purchases. Businesses need to meet customer expectations with transparent pricing and seamless payment options. Read more

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