22 February 2023
In this week’s newsletter, we look at the digital transformation imperative across a number of sectors, including wealthtech, risk management, and trade finance. We also learn why Gen-Z and millennial banking customers are rushing to open secret accounts, how to navigate new regulatory enforcement around cryptocurrency and digital assets, and what Asian banks can do to reclaim the cross-border payments crown. Lastly, we consider why bank executives are turning to the cloud to modernise customer experience.
Coalition Greenwich: Technology advances in wealthtech
While providing financial advice remains a people-centric business, 54% of financial advisors plan to invest in financial planning technology in the next year to enhance their capabilities.
Javelin: Why Gen-Z and millennials are flooding to secret accounts
Secret accounts offer liquidity and loyalty. Javelin estimates the current market size of legal, secret consumer accounts in the US is $59.45 billion, with growth underpinned by the desire to prepare for financial emergencies.
Aite-Novarica: Changing the status quo in trade finance
API-based open banking, AI and data analytics are drastically transforming trade finance operations as we continue to see a decline in manually intensive and paper-based processes. This impact report examines the offerings of six vendors in the space.
JWG: Guidelines to navigate cryptocurrency and digital assets in 2023
With new waves of regulation and enforcement on the horizon, JWG takes a look at how asset managers across the globe should progress with cryptocurrency and digital assets.
McKinsey & Company: Opportunities in Asian cross-border payments
To avoid losing ground in the competitive cross-border payments market, incumbent banks must seek to reassert their credentials, increase partnerships and M&A activity and increase efficiency.
IDC: Bank executives turning to cloud technology
This report looks at the current opportunities for banks to utilise cloud services and modernise customers’ digital banking experience.
Aite-Novarica: Examining the fraud prevention ecosystem
Products like AML and cybersecurity are leveraging emerging technologies, data and advanced techniques to fight against security threats, rising fraud losses and economic uncertainty. This report assesses the vendor ecosystem for best-in-breed solutions.
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