Global Digital Banking Market Shifts Focus to User Experience and Super-Apps, Deloitte Study Reveals
After a period of rapid innovation, the global digital banking market is maturing, transitioning from developing new features to refining existing services and enhancing user experience (UX), according to a recent Deloitte study. The Digital Banking Maturity 2024 report, published in October, surveyed 349 banks across 44 countries to analyze the current state of digital […]
AI Leads the Charge in Banks’ Digital Transformation, Study Finds
Artificial intelligence (AI) is becoming a central pillar in the digital transformation strategies of banks as they strive to enhance customer experiences and streamline operations. A recent study by Publicis Sapient, a prominent American digital consulting firm, reveals that banks are dedicating 29% of their digital transformation investments in customer experience to machine learning (ML), […]
Visa Completes Acquisition of Featurespace to Enhance AI-Driven Fraud Prevention Solutions
Visa has finalized its acquisition of Featurespace, a leading provider of real-time artificial intelligence (AI) technology for payment protection. This strategic acquisition strengthens Visa’s ability to prevent and address payment fraud and financial crime, offering enhanced security solutions for clients and consumers worldwide. With Featurespace’s advanced technology integrated into Visa’s existing suite of fraud prevention […]
Navigating the Ethical Challenges of AI in Financial Services, Experts Discuss
As artificial intelligence continues to advance rapidly, understanding its ethical implications has become just as important as harnessing its capabilities. In a recent interview with FinTech Global, Nathan Marlor and Andrew Parsons from Version 1, a digital transformation firm, discussed the growing concerns around AI ethics in financial services. Founded in 1996, Version 1 is […]
Android Users Show Growing Interest in Money Management Apps, New Report Finds
A new analysis from app growth solutions company SplitMetrics reveals a significant rise in the use of money management apps among Android users. These apps surged in popularity in 2022 as inflation drove concerns over personal finances, with users looking for better ways to budget. The sector saw an addition of 896,000 users in 2022, […]
UK Financial Services Struggling to Keep Up with AI Integration and Regulation
A recent survey by EY highlights that only five percent of financial leaders in the UK feel they are ahead of the curve in AI adoption. Despite high aspirations to integrate AI into their businesses, most firms are facing significant obstacles in achieving these goals. The survey, which gathered insights from executives at 20 UK […]
Airwallex Achieves Significant Growth and Expands APAC Presence with New Innovations
Airwallex, the global financial platform founded in Melbourne in 2015, has reported impressive growth across the Asia-Pacific (APAC) region, showcasing an 83% year-on-year (YoY) revenue increase in Q3 2024. Globally, the company saw a 73% rise in revenue and a 60% YoY increase in transaction volume, with APAC remaining a key driver of its success. […]
YouLend and Tpay Partnership Empowers Polish SMEs with Revenue-Based Financing
YouLend, an embedded finance platform, has partnered with Polish payment service provider Tpay to enhance access to flexible, revenue-based financing for entrepreneurs and small business owners in Poland. This collaboration aims to support the growth of the country’s burgeoning e-commerce market by offering tailored financial solutions. Revenue-based financing has become a preferred option for Polish […]
Fintech-as-a-Service Market Growth Surges Amid Digital Transformation
The financial services industry continues to undergo rapid digital transformation, driving significant growth in the Fintech-as-a-Service (FaaS) market. According to a report by The Business Research Company, the global FaaS market expanded from $327.51 billion in 2023 to $386.39 billion in 2024, marking an impressive compound annual growth rate (CAGR) of 18%. Forecasts indicate that […]
Key FinTech Trends of 2024: Pay by Bank, GenAI, and Hyper-Personalization Lead the Charge
In 2024, Pay by Bank (PBB) emerged as a serious alternative to traditional card payments, according to Philip Benton, Principal FinTech Analyst at Omdia. PBB, which uses banking rails to process payments, has struggled with consumer adoption due to an inconsistent user experience in the past. However, advancements in APIs and the growing global adoption […]
