Fintech Analyst Report - Issue 292

Sarah Mason

20 April 2023

In this week’s newsletter, we explore how enhancing back-end systems is increasingly vital for RIA portfolio managers to fend off challengers and why financial institutions should adopt financial well-being and inclusion strategies. Meanwhile, specialist lenders have thrived in recent years, but fintechs operating in other fields may struggle to copy the same strategies. And we ask whether AI will help prevent more bank failures after the fallout of Silicon Valley and Credit Suisse continues, and much more. 

Aite-Novarica: Basic tools hinder RIA portfolio managers 
As the registered independent advisor market becomes increasingly competitive, with challengers experiencing significant growth in recent years, adopting a sophisticated portfolio management and reporting system is essential.  

Forrester: Developing a financial well-being strategy 
Financial services firms should drive customer engagement, earn trust and future-proof their revenues by promoting customers’ financial well-being and inclusion.  

Javelin: Specialist lenders focus on the shopping journey 
Specialist lenders have succeeded by focusing on consumer lifestyles rather than lending features. However, while it might look easy to duplicate niche lenders’ success, fintechs should be wary of simply adopting a plug-and-play approach.  

Celent: Retail digital banking leaders need to evolve in changing market 
Digital channel leadership and technology strategy in retail banking faces three complex challenges: expanding customer engagement, the evolving role of the digital leader and fragmented customer relationships.  

IDC: Will AI stop more banks from failing in 2023? 
With the compliance and risk environment changing apace, banks must seek to harness advanced technologies to proactively detect financial crimes and errors. AI and real-time analytics capabilities will be essential for realising a robust risk and compliance posture.  

Aite-Novarica: How embedded finance can power B2B marketplaces 
With B2B marketplaces becoming an increasingly attractive option to deliver more advanced onboarding capabilities to corporate clients, there is an opportunity for financial institutions to underpin the financial supply chain of these marketplaces with tailored embedded finance offerings.  

IDC: The role of banking technology in APAC 
The 2022 ‘IDC Financial Insights Survey’ on the ‘Role of Technology in the Banking Industry’ shares the views of 316 banking decision-makers across the region (excluding Japan) regarding their technology investments and product and ESG strategies for 2023. 

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