15 May 2020
Issue #203 of the Fintech Analyst Report looks at data-driven SME banking, UK payment insights, questions around the 'next normal', the impact of the pandemic on fintech product pipelines and identity and access issues.
The pandemic has highlighted the pressure on IT managers to extend data protection from simple perimeter defence to defence in depth, as more employees work from home.
This report focuses on how traditional SME banks can dust off aging value propositions and lead the competition against neobanks and fintechs through open banking and AI.
Celent predicts that data accelerated by digital applications, AI, and cloud experiences will be the new normal expectation from leadership, shareholders, employees, vendors, and customers.
If firms are to transform their offerings through improved customer experience, CX pros must be able to gain buy-in at board level. Using data to communicate the benefits of CX is key.
Software vendors across all industries, including fintech, face a difficult year with many product releases floundering due to the pandemic. But there may be opportunities for those able to weather the storm.
The mature, highly debit-oriented UK market shows consumers are conservative in using payments products, and cautious about new technologies. But individual consumers show greater openness.
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