23 March 2023
In this week’s newsletter, we look at how banks are onboarding new capabilities to help meet customers’ digital needs, identify the frontrunners in open banking and see how fintechs are supporting growth in emerging markets. We also consider the security and digital resilience investments financial institutions should make to mitigate the challenges of 2023 and also look at how data is helping to fight cross-border payments fraud. Finally, Celent provides forecasts for technology investment priorities for 2023 and beyond.
Forrester: Changing customer digital banking expectations
Despite economic headwinds, fintechs keep innovating. Meanwhile, banks are ramping up their digitalisation efforts. New digital banking tools are coming online, simultaneously shaping and meeting customers’ evolving needs and preferences.
Kapronasia: Fintech providing a basis for growth in emerging markets
Fintech’s ability to keep growing and innovating is vital for the continued economic growth of emerging markets, especially for the under-served segment of these markets. Consumer and SME financial education is just one area ripe for fintech-led growth.
IDC: Changing security investment plans to enhance digital operation resilience
With IT leaders facing an array of conflicting challenges in 2023, from economic disruptions to digital transformation initiatives, investment in security and digital resilience will be crucial.
Payments Journal: The importance of data in the fight against cross-border payments fraud
With cross-border payments in Europe booming and online businesses generating €100 billion, organisations are beginning to look for a multilayer approach to mitigate fraud risk.
Forrester: The top open banking providers
Forrester's 24-criterion evaluation of the open banking market identifies the 13 most significant vendors and how they stack up against each other.
Celent: Top 5 UK banks’ £5bn spend reveals investment priorities for 2023
The top five UK banks invested nearly £5bn on technology in 2022 in their domestic banking operations. These banks' technology strategies, priorities, and performance offer insights into the banking sector's direction globally, making them a valuable benchmark for the industry.
Celent: Technology investments to drive revenue and efficiency in post-pandemic corporate banking
An increase in investment in technology-based projects supporting top-line growth and enhancing operational efficiency is expected across the corporate banking sector as the industry shifts to generating revenue and achieving profitability as the effects of the pandemic subside.
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