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National payment switches: navigating the complexity for economic growth
A national payment switch has become a necessity for a cashless or ‘less cash’ society. The advantages of such a switch include boosting financial inclusion, stimulating innovation, competition, growth and economic prosperity. So, how does a market best implement a national payment switch? And how does it cope with the considerations and inevitable trade-offs? It [...]
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Banks strike back in face of FinTech onslaught for mobile financial services
For a long time alarm bells have been ringing for banks in digital and mobile financial services: the rise of the fintech industry, the scale of global VC investment; the land-grab for mobile services. In many ways, all this excitement has put banks in the shadows. Finally, in 2016, things are different. For the first [...]
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Empowering the omni-channel through choice in the payments market
A new White Paper reveals the rapid acceleration of mobile connectivity is dramatically changing consumer behaviors and engagement patterns in the payments market. Today, just six years after the first mobile banking apps appeared, financial consumers fully expect anytime-anywhere access to services and the ability to transact when, where and how it is most convenient [...]
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AI bots to drive mobile remote purchases to $2.1 trillion
New findings claim that merchant integration of technologies such as AI bots and natural language interfaces will lead to remote goods purchases by mobile totalling $2.1 trillion by 2021. This represents a 100% increase from this year’s projection for spend on physical and digital goods. The research found that rising smartphone use in digital retail [...]
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Digital disruption and financial inclusion: Is banking facing an ‘Uber’ moment?
Financial intermediation and payment systems have always been the preserve of the banking sector, but advancement in technology or digital disruption is giving a lot of palpitations to bankers. Anthony Jenkins, the former CEO of Barclays, aptly remarked that banks are facing an “Uber moment” which is a phase of rapid development in financial technology [...]
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