Fintech Analyst Report - Issue 244
15 February 2022
In this week’s newsletter, we explore how banks battle it out over primary banking while embracing the shift to digital. Meanwhile, across Asia-Pacific the tightening and loosening of regulation determines whether fintechs flourish or flounder. India’s digital asset tax is stifling crypto and in the Philippines cooperation is mission-critical with digital banking licenses in the region suspended. However, Taiwan’s relaxed regulation is enabling the country’s first virtual banks to carve out a niche in an over-saturated banking market.
Forrester: Digital banking in 2022
As competition from digital disruptors continues, traditional banks have been embracing digital banking tools to keep pace. 2022 will be crucial for banks looking to level up.
Javelin: The battle for primary banking
Despite the growing popularity of neobanks, many customers – around 70% – still conduct their primary banking with traditional institutions. To maintain or gain primary banking loyalty, both fintechs and, incumbent banks are addressing direct depositing.
Kapronasia: India’s approach to crypto
Instead of banning cryptocurrencies, India has alternatively decided to heavily tax digital assets at 30%. The high tax is set to favour their upcoming CBDC over decentralised digital payment methods.
Kapronasia: Philippine fintech boom
Digital financial services have surged in the Philippines, attracting attention from fintech investors. With digital banking licenses in the region suspended, cooperation is the only route for firms looking to cash in.
Kapronasia: The progress of Taiwan’s first virtual banks
Taiwan is an over-saturated market for banks, making it a difficult landscape to enter. But with relaxed regulation and superior digital offerings to traditional players, Taiwan’s first virtual banks should have a promising future.
Gartner: What is the future of financial planning and analysis?
In this report, Gartner analysts detail the key challenges financial planning and analysis leaders will face in 2022. Including issues with resource flexibility, browsing for AI solutions, and looking to unlock value from advanced analytics.
Aite-Novarica: Adapting to the new world of wealth management
The wealth management industry is facing a host of challenges, resulting in established firms and new entrants adapting their revenue models to these changing industry economics.
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Sarah Mason
Weekly Fintech Analyst Report
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