33 Results
Sergiy Fitsak Managing Director, Fintech Expert at Softjourn
In the six months following its groundbreaking launch in July 2023, FedNow has emerged as a transformative force in real-time payments, marking a significant departure from the traditional Automated Clearing House (ACH) system. This shift signifies a pivotal moment in banking innovation, offering instantaneous transaction processing that aligns wi...
09 April 2024 /payments /retail Banking Strategy, Digital and Transformation
With the neobanking market projected to swell to $6.37 billion in 2024, and a user base expected to hit 386.3 million by 2028, the industry's potential is undeniable. Yet, alongside opportunity come substantial challenges, from profitability to cybersecurity. Clash of Titans: Traditional vs. Digital Banks The consumer demand for comprehensive fin...
25 March 2024 /payments /retail Banking Strategy, Digital and Transformation
In 2024, digital banks continue to rise, drawing in customers with their innovative services. Leading digital banks such as Chime, Current, and Varo report significant increases in both customer numbers and deposit volumes. The competitive landscape is intensifying as technology giants and traditional banks unveil their digital banking solutions, ...
28 February 2024 /payments /retail Banking Strategy, Digital and Transformation
The prepaid card sector stands at a dynamic crossroads, marked by fierce competition and expansive growth. As we delve into 2024, several pivotal trends are shaping the future of prepaid cards, from gig economy dynamics to millennial spending habits, the surge in virtual card usage, the popularity of eGift cards, and the innovative approach of pre...
14 February 2024 /payments /retail Banking Strategy, Digital and Transformation
Emerging Digital Payment Trends As we usher in 2024, the payments industry stands on the threshold of a new era, marked by an accelerated pace of innovation. This dynamic landscape is a testament to the sector's agility in responding to the rapidly evolving demands of the digital consumer and the forward march of technology. What payment trends ca...
11 January 2024 /payments /retail Banking Strategy, Digital and Transformation
AI-powered solutions are rapidly maturing, becoming a vital asset across numerous industries, particularly within finance. According to a Markets and Markets report, the global chatbot market achieved a valuation of $4.7 billion in 2022 and projected growth to $15.5 billion by 2028. The evolution of chatbots has vastly improved their linguistic ca...
03 January 2024 /payments /retail Banking Strategy, Digital and Transformation
The Emergence of P2P Apps In our tech-driven world, convenience reigns supreme. Peer-to-peer (P2P) payment applications offer a user-friendly and streamlined solution for transferring money to others or settling bills. These apps have seen an unprecedented surge in popularity, with a whopping 84% of consumers acknowledging their use of P2P servic...
28 December 2023 /payments /retail Banking Strategy, Digital and Transformation
The payments industry's ever-evolving nature blends innovation and change, traversing various paths at an unparalleled speed. Enterprises and consumers have markedly shifted away from physical currency, embracing digital transactions through cards, mobile devices, digital wallets, and wearable tech. This shift has completely redefined payments, ma...
20 December 2023 /payments /retail Banking Strategy, Digital and Transformation
In the dynamic world of fintech - where mergers, acquisitions (M&As), and tech integrations are commonplace - the quality of software systems is pivotal for achieving long-term growth. When firms undertake mergers or acquisitions, one of the most critical aspects they inherit is the software system. Should this software contain poor coding or o...
06 December 2023 /payments /retail Banking Strategy, Digital and Transformation
The financial sector is anticipated to experience a notable surge in fraudulent activities, leading to projected losses exceeding $40 billion by 2027. This increase marks a significant uptick from prior estimates. The rise in fraudulent transactions is linked to multiple factors, notably the expanding volume of online transactions. This surge off...
29 November 2023 /payments /retail Banking Strategy, Digital and Transformation
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