Fintech Analyst Report - Issue 259

Sarah Mason

16 June 2022

In this week’s newsletter, we take a look at the imperative of cloud adoption across APAC to increase innovation, why a lack of data sharing in the US is hobbling open banking, and why the Philippines is fertile ground for digital challengers. Perceptions of FedNow, the Federal Reserve’s real-time domestic payments network, are also revealed, and we find out how to ensure financial crime risk management is sustainable. How to strike the human-digital balance in wealth management also features, and we discover the technologies that best support modern financial well-being strategies.

IDC: Cloud now business-critical for banks in APAC
In 2022, improving business agility and resilience through the cloud will be crucial in APAC. Migrating applications and their associated workloads to the cloud will increasingly be the focus of cloud strategies for banks across the region.  

Aite-Novarica: FedNow can’t come soon enough
A quantitative survey of 117 US community banks and credit unions assesses perceptions and readiness for the new FedNow US real-time domestic payments scheme.

Mercator: Data sharing lag continues to hinder open banking in US    
A lack of willingness to share data and the absence of a robust regulatory framework for data sharing across the fintech ecosystem means open banking in America is a bit of a misnomer.

Celent: How to attain a sustainable anti-financial crime programme
To achieve sustainability in financial crime risk management, organisations must ensure that they are able to adapt to ever-changing requirements and determine a dynamic target operating model.

Forrester: The technologies supporting financial well-being
Financial institutions wanting to maintain customer loyalty have a growing interest in financial well-being strategies. This report analyses the technologies on the market to boost these initiatives.

Javelin: Striking the human-digital balance for investors
While banks and wealth managers favour digital tools to promote financial management and long-term financial well-being, investors also need professional advice to support their investment journey.

Kapronasia: Digibanks set for success in the Philippines
The Philippines is fertile ground for digital banks, with regulatory support, an underbanked population and growing access to smartphones all driving adoption.

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