Fintech Forward Newsletter - Issue 7
23 October 2024
This year’s theme for Sibos “Connecting the Future of Finance” highlights a transformative moment for the financial services industry. With digital transformation at the forefront, thought leaders on day #3 are discussing key topics like AI, cross border payments, digital currencies and financial inclusion, equipping attendees with the insights to navigate an evolving financial landscape.
This newsletter explores the challenge of balancing user experience with fraud prevention for instant payments. We take a look at why African banks are facing barriers to global financial networks - what will it take to unlock their potential and boost economic growth and financial inclusion? Finally, Finastra experts highlight how AI is revolutionizing supply chain finance through, optimizing partner onboarding, data processing, and financing decisions.
Instant payments will change the payments landscape in 2025
In 2025, the payments industry will become increasingly complex as more players enter the market. With this in mind, an international payments network needs the right balance of friction to ensure user-friendly interfaces while preventing fraud.
Integrating Africa into the financial services ecosystem
The African banking sector faces difficulties accessing international financial markets, with many banks struggling to establish correspondent banking relationships, particularly for trade financing. This challenge hampers economic growth, limits financial inclusion, and threatens progress toward achieving the UN Sustainable Development Goals (SDGs).
Where does AI fit in supply chain finance?
Finastra’s Anastasia McAlpine highlights three main areas: Improving optimisation by streamlining the onboarding process of new partners into the ecosystem, processing and analysing data, while using predictive models to assess optimal financing times and using tools like Copilot AI to expand the knowledge base of financial institutions. (Pages 86-89)
Trends
What are the next big trends in finance?
The financial services landscape is changing as a result of technological advancements, shifting consumer expectations, and new business models. The merging of atomisation, embedded finance, and real-time capabilities is establishing a new place in the industry.
Webinar
Exploring the ethics of AI
With the evolution of new technology including AI and ML tools in the financial services industry, advancement is happening much faster. This upcoming webinar explores the rapidly expanding role of AI in financial services, examines ethical questions, expected regulatory impacts, and AI use cases already powering better business.
Report
Metia Insight Studies
Download this Metia report to understand the concerns and motivations of your audiences and customers, and how to change behaviours and achieve the outcomes you need.