Fintech Analyst Report - Issue 270

Aite-Novarica: Digital strategy essential for financial institutions 
Banks often have legacy core systems that don’t fully support the digital transformation of processes. To keep their digital strategy on track, leaders should create key artifacts including a digital blueprint, current state assessment and digital roadmap. 

Celent: Digital banking priorities 
The top two product investment priorities in 2022 for corporate banks are digital banking platforms and digital channels. The need for continued investment shows that digital continues to be seen as providing a competitive edge.  
 
Mercator: Payment apps fraud on the rise 
Instances of fraud utilising peer-to-peer (P2P) payment apps such as PayPal, Venmo or Zelle continue to grow. At the same time, this type of fraud escapes regulatory oversight due to distinctions in how the transactions are authorised.  

Javelin: Mitigating fraud risks in real-time payments 
Despite their convenience, frictionless, real-time payments pose an increased risk of fraud. This report explores how security can be prioritised in real-time payments models.  

McKinsey & Co: Is cash still king in Africa? 
As e-payments continue to grow in popularity in Africa, the grip cash has on the continent is slipping. Innovations and fresh regulation are driving growth for e-payments in the region, with the market set to grow by about 20% per year to 2025. 

Kapronasia: Hong Kong’s role as a financial centre  
Despite the difficulties it has experienced over the last few years, Hong Kong is continuing to succeed as China’s primary offshore financial centre, but competition in the APAC region is increasing. 

Forrester: How banks can boost consumer financial capability 
A major part of financial wellness is financial capability. Banks have a responsibility to help improve their customers’ financial skills and should offer sufficient digital technologies to facilitate this.  

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