Paul Shumsky Technology Advisor at Entrepreneur
As the new year approaches it is a great time to recap 2020 outcomes, review market activity and expert predictions for 2021 to tailor the strategy accordingly. This year was full of unpredicted events with the pandemic and lockdown as major ones that had a strong influence on the financial industry. In this list, we summarized 20 recommendable ar...
23 December 2020 /covid-19 /predictions Digital Banking Trends
Banks used to win customers over by offering competitive interest rates, great services, and accessibility by having many locations. Now, interest rates are even across the board, services are only click away, and your bank is in your pocket. The world has changed and how FinTech companies win customers’ hearts has as well. Banks and FinTech compa...
24 June 2020 /people /retail Digital Banking Trends
KYC and AML complicance can be considered as the most costly policies to implement and maintain. Furthermore, it is one of the factors holding back the financial innovation as early-stage startups have to deal with complicated processes, hire compliance teams and pay huge amounts to KYC data providers. And while many digital banking platforms alr...
23 June 2020 /security /regulation Digital Identity Management
Mobile banking industry is one of a few to keep growing tremendously despite all the challenges the world is facing in 2020. The growing trend is very much similar across many regions leading to a great demand on technology and solutions. This situation often leads to inappropriate decisions in terms of the resource and product planning. Digital ...
22 June 2020 /retail /startups Digital Banking Trends
Africa is the last frontier of untapped global growth, and fintech innovators are starting to get in on the action. The continent offers enormous market potential because almost 60% of the population is still unbanked. The lack of banking facilities means that fintech providers can start building their businesses on a clean slate and avoid the ch...
07 June 2020 /retail /inclusion Digital Banking Trends
Strong customer authentication necessarily forms the backbone of any fintech application and it is common to make use of multi-factor authentication (MFA) to provide additional levels of security to protect any transaction from being compromised. Multi-factor authentication (MFA) encompasses three types of authentication: knowledge (something you k...
14 April 2020 /devops /identity Biometrics
The coronavirus is expected to fundamentally change the way customers interact with their banks, retailers and other service providers – and fintech businesses, which were built to operate in a fast-moving, digital-first economy, are particularly well-placed to meet their demands through the crisis and beyond. Since the onset of the virus, busines...
22 March 2020 /payments /retail Innovation in Financial Services
Retailers are increasingly turning Mobile Point of Sale (mPOS) devices to secure payment because of the convenience, cost effectiveness and flexibility they offer. In fact, the mPOS market is reportedly growing faster than the traditional POS industry and, according to some estimates, could comprise some 25% of the overall market within the next t...
03 March 2020 /payments Blockchain in Banking and Financial Services
Mobile-based fintech solutions are becoming the first port of call for many financial services, as people embrace the simplicity, cost-effectiveness and speed of mobile payments. Milennials and Gen-Zers admire mobile experiences they get with banking, payroll, customer loyalty apps and others. However, digital fraud is rising as fast, if not faste...
18 February 2020 /security Fintech
Uber could well be the next uber employer to be offering employees access to a payroll-based mobile wallet that provides financial benefits, including financial loans. Recently, the listed ride-hailing business, which has 19 000 employees worldwide, sent out an in-app message to some of its drivers saying it is building a new financial product to ...
25 October 2019 /payments Fintech
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