Fintech Analyst Report - Issue 283

Sarah Mason

25 January 2023

In this week’s newsletter, we consider the affect ChatGPT will have on customer financial journeys, how many financial services firms are still failing to put the customer first, and the M&A opportunities for incumbents in 2023. We also look at the importance of liquidity tools for treasurers in trying economic times, the rise of 3-D Secure for combatting fraud, and how the lines between traditional finance and decentralised finance are becoming increasingly blurred.  

IDC: Will ChatGPT propel AI to the next level of engagement? 
AI tools have evolved considerably, bringing us a generative pretrained transformer or ChatGPT. This report shows how the model might be used to improve customer financial journeys for banks and credit unions. 

Forrester: Financial services companies fail to be truly customer- focused 
Most financial services companies aim to be customer centric, but too few are able to put this into practice and develop a truly customer-obsessed culture.  

Global Data: Fintech consolidation predicted in 2023 
With less VC funding for both direct-to-consumer and B2B fintech propositions, 2023 looks set to be full of favourable M&A opportunities for incumbents.  

Celent: Treasury insight to combat economic stress 
Banks must look at ways to deepen corporate client relationships through a renaissance for transaction data and reporting. Tools for managing liquidity will be particularly important for treasurers following increased economic stress.  

Aite-Novarica: Using 3-D Secure to mitigate fraud 
E-commerce merchants in the US predominantly turn to 3DS to combat online fraud. Organiszed crime rings have turned to online transactions where EMV chip cards do not provide protection. This report analyses the best methods for keeping fraudulent activity at bay.  

Celent: The evolution of TradFi into DeFi 
With traditional finance providers under pressure to deliver increasingly competitive investment options for their clients, many are ramping up cooperation with fintechs that specialise in decentralised finance, such as cryptocurrencies and other digital assets.  

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