Weekly Research Highlights – 26 September 2023

The fintech industry is rapidly evolving and disrupting traditional financial systems. In this article, we bring you the latest research insights to help you stay ahead of the curve and understand the future of financial technology. Enjoy researching!

European e-commerce growing despite economic environment (Payments, Cards & Mobile

European e-commerce growing despite the current economic environment. In 2022, the European B2C e-commerce turnover increased from €849 billion in 2021 to €899 billion in 2022, despite a shifting economic and political environment. Although the growth rate for 2022, reaching 6%, compares lower than in 2021 (12%), the sector continues to move forward and is expected to continue growing in 2023, according to the 2023 European E-commerce Report. Read more

Report: The vast majority of NFTs are now worthless (Payments, Cards & Mobile)

The hype around Non-Fungible Tokens peaked in the 2021/22 bull run that saw nearly $2.8 billion in monthly trading volume recorded in August 2021. From this, NFTs captured the collective imagination worldwide with multiple news reports of million-dollar deals for sales of certain NFT assets. People were excited about this new type of online asset and something of a goldrush appeared to start. Fast forward to today… and the Non-Fungible Token market is starkly different. Read more

Funding declines but generative AI sees upticks in deal count (Payments, Cards & Mobile)

Deals to AI start-ups ticked up for the first time in 5 quarters to reach 590 in Q2 2023. Over 40% of these went to US-based start-ups.​ The buzz around generative AI continues to draw investors’ attention: Four of the top 5 largest funding rounds this quarter went to genAI companies. At $29 million, the average deal size for AI companies in 2023 YTD has grown nearly 50% compared to 2022’s full-year total.​ Read more

UK Banks are ‘Inherently Misaligned’ With Customer Needs as Saving Interest Rates Remain Stagnant (The Fintech Times

With most UK consumers now feeling short-changed and struggling to make the most of their money, as a result of standstill savings interest rates, new research from Plum reveals that the average Brit is receiving 3.3 per cent interest – a dramatic 1.95 per cent under the base rate. This means that, on average, UK customers are missing out on £478 in interest per year, equating to £17billion across all savers in the UK. In July, the Financial Conduct Authority (FCA) set out its 14-point plan to ensure banks and building societies pass on interest rates to savers. Read more

E-commerce Growth Surges Across Latin America, With Further 25% Growth by 2027; Predicts PayU (The Fintech Times)

Having already seen significant growth in the region, PayU GPO predicts further growth across LatAm – and suggests its e-commerce market could grow by 25 per cent in volume across the likes of Argentina, Brazil, Chile, Colombia, Mexico, and Peru by 2027. cementing Latin America’s status as one of the world’s highest-growth e-commerce markets. The report also suggests that Brazil and Mexico are poised to dominate the Latin American e-commerce market with projected Compound Annual Growth Rates of 77.2 per cent and 68.2 per cent respectively by 2027 despite inflation. Read more

How financial institutions can safeguard integrity with the three-step risk-based method (Fintech Global)

Regulatory bodies consider risk assessment a cornerstone of a firm’s AML framework. This emphasis has placed customer risk profiling in the limelight due to escalating regulatory scrutiny and consequential substantial fines. Financial institutions are now urged to actively adopt a risk-based approach, coupled with comprehensive KYC procedures, to fortify their reputation, resilience, and regulatory alignment. Read more

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