Fintech Analyst Report - Issue 237

In this week’s report, Celent examines the rapid pace of change across the global payments industry. Mercator looks at the growth of Buy Now Pay Later schemes and what retailers need to consider, while Omida reports on the rise of digital wallets. Aite-Novarica and IDC Insights look at how AI and machine learning can help combat financial crime and improve compliance. Lastly, Coalition Greenwich looks at the implications of tax changes on retail investors and McKinsey explores M&A in wealth management.

Celent: Adapting to constant change
Celent’s global survey on the modernisation of payments across the globe highlights pain points and plans for the future. Some 83% of banks agree that the next five to seven years will see much greater change than in the last decade.

Mercator Advisory Group: BNPL – help or hindrance?
How does a merchant select the right Buy Now Pay Later (BNPL) partner? They must consider their products, technology, and shopper demographic while implementing BNPL in a way that drives business without simply increasing the cost of sale.

Omdia: Digital wallets on the up
The acceptance of digital wallet tools, both from consumers and merchants, was significantly accelerated by the coronavirus pandemic. This report explores the digital wallet landscape after the impact of the pandemic.

Aite-Novarica: Machine learning to combat financial crime
As financial crime continues to rise, financial institutions are increasingly looking to intelligent machine learning to advance fraud detection. This report outlines how financial institutions can transform fraud controls to overcome machine learning apprehension in the industry.

IDC Insights: How to deploy AI to improve compliance
This high-level report reveals why banks should seek to ramp up AI adoption for compliance and details the key stages of implementation.

Coalition Greenwich: The retail trading boom
The number of retail investors has increased sharply, with 10 million brokerage accounts opened in 2020 alone. New tax rules threaten to hurt the retail investor, though, and its impact needs to be examined.

McKinsey & Co: Rise of the RIAs
As many US banks look to expand their wealth management capabilities, M&As with Registered Investment Advisors are becoming a popular choice, but with high valuations banks should be careful with their RIA strategy.

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