Latest Payments reports and research: Finextra Research

Impact Study

Fraud and AML Case Management: How to Operate at the Speed of Risk

The digital revolution has fuelled a surge in transactions, while economic turmoil, geopolitical tensions and shifting regulations have emboldened sophisticated financial criminals. As a result, fraud is costing financial institutions more than ever before. Traditional siloed systems and manual process have left financial institutions vulnerable by drowning investigators and analysts in data, while starving them of actionable insights to stay ahead of risk. This Finextra impact study, produced in association with NICE Actimize, explore how institutions can bolster their fraud management and anti-money laundering (AML) prevention systems to stay ahead of risk, reduce operational costs and investigations time, and meet changing business and regulatory requirements. We cover: How to resolve siloed case management How to fix fractured data How to create a faster, more intelligent workflow And more.

16 May 2024 392 downloads

Future of Report

The Future of UK Fintech - 2015-2035

An IFGS Special Edition UK Fintech Week 2024 With UK Fintech Week's flagship event - Innovate Finance Global Summit (IFGS) - returning for its 10th anniversary, Finextra and Innovate Finance have partnered to publish this report, which acts as your go-to-guide to everything you need to know about financial services and technology in the UK. ‘The Future of UK Fintech: 2015 – 2035: An IFGS Special Edition’ includes commentary from the brightest and best across the fintech ecosystem, discussing and debating the crucial issues facing the sector now and in years to come. This includes key insights from industry experts from Cogo, EY, Konsentus, Marqeta, Standard Chartered Ventures, and Zopa Bank. Scoping out the next decade to come, this report explores the agenda topics below and more: The Next Decade of FS and Innovation: What Lies Ahead Fintech Beyond FS Borders: How Fintech is Impacting other Industries and Sectors UK and the World: Keeping our Crown while Learning from Others Transformative Technologies: Opportunities and Risks Users of Tomorrow: The Next Generation of Consumers The Shifting Ecosystem: Who Will Lead?

15 April 2024 711 downloads

Survey

Definitive Differentiators - Forging a future-proof payments model

Over the last few decades, banks have been forced to reconsider their business model for transaction services. During the era of low-interest rates, the focus shifted to transaction revenues, and while the pendulum is now pivoting back to utilising the balance sheet for revenue growth, the amount of new regulations impacting the industry is ever-increasing. New technology and market regulation have fostered innovation and new market entrants. This “perfect storm” is exposing a number of potential threats for banks, but also new opportunities to expand the share of customer wallet and time to market, and drive cost efficiency through standardization. This Finextra survey report, produced in collaboration with Tietoevry, explores the key factors driving changes to payment models for different financial institutions and how they can wield continued or differentiated success in the evolving landscape.

18 March 2024 600 downloads

Impact Study

APP Fraud Liability: A Guide for Banks

Fraud is running rampant. The UK Government's 2023 'Fraud Strategy' report highlighted that fraud now accounts for over 40% of crime, yet receives less than 1% of police resources. More needs to be done to ensure that the consumer is protected. This is why, as per the Financial Services and Markets Bill, all PSPs will now be required to reimburse fraud victims from October 2024. In light of these upcoming changes, banks need to reassess how they manage liability associated with APP fraud and develop new methodologies in order to investigate and mitigate fraud more effectively. This Finextra impact study, produced in collaboration with Form3, gives banks a guide to tackling the new APP fraud liability landscape. It highlights: Risk scoring payments Implementing the right intelligence Considering false positives Ensuring explainability And more.

06 March 2024 562 downloads

Event Report

Mastering DORA: A Strategic Guide to Operational Resilience

In the rapidly evolving fintech world, robust, reliable, and resilient systems are more crucial than ever. The industry must grapple not just with the challenges of instant payments and external cyber threats, but also with the advent of new players, running on varied infrastructures and offering unprecedented uptime levels. DORA, introduced by the European Union, provides a dedicated framework for the EU financial sector, aimed at protecting digital operational resilience—a vital aspect of contemporary business operations. This Finextra webinar report, hosted in association with NTT DATA, offers a strategic guide to mastering DORA. It covers: Understanding DORA and its impact on the financial services industry Why operational resilience is key to business continuity Key aspects of implementation And more. Download our webinar report now to learn more. Click here to watch the webinar on-demand now - DORA: The drive towards better operational resilience.

28 February 2024 594 downloads

Impact Study

8 Steps to Efficient Transaction Fraud Monitoring

In the wake of the widespread shift to digital banking and ecommerce, fraud teams have seen a sharp increase in card transaction fraud. Since 2014, card transaction fraud has increased by an average of 8.9% per year and exceeded $32 billion in losses in 2021 alone. In an increasingly complex threat environment, card transaction fraud has devastating consequences for banks and merchants alike. Technologies like cloud, artificial intelligence (AI) and machine learning (ML) pave the way for innovative fraud solutions. Yet, in order to effectively deploy these tools, banks need to address their underlying risk strategies, technical infrastructure and the quality of their available data. This Finextra impact study, produced in association with Brighterion, a Mastercard company, explores the eight steps for banks to reach transaction fraud monitoring excellence. Download today to learn more.

08 February 2024 542 downloads

Impact Study

AI and Cloud: The Proving Ground for Regulatory Resilience in 2024

The current macroeconomic landscape is marked by exceptional volatility and uncertainty, posing challenges to traditional models in the financial services sector. Despite this new challenging market context, some financial institutions continue to hit pause on using AI and cloud technology, falling behind the curve. Leveraging new technologies can no longer be a zero-sum game. This impact study explores: How can AI and cloud be leveraged to improve back-end processes, rather than just front-end experiences; How migrating to the cloud can fuel new use cases; The regulatory impact of PSD3, DORA and more; The benefits of data sovereignty and data governance; And more. Download this Finextra impact study, produced in association with Microsoft Azure, to learn more.

22 December 2023 658 downloads

Sentiment Paper

Payments: The key to unlocking new ecosystems and why merchant services are on the up

To say things have changed in payments, and, as a result, the merchants services space is to understate a dramatic and fast-moving digital and cultural evolution that has driven such change. Digital payments have enabled the establishment of hundreds of merchant businesses, particularly in developing markets, as well as the significant growth of global ecommerce. This Finextra Research report, in association with Ingenico, explores: How banks and acquirers have adapted to the digital frontier; The importance of data-driven business services; Why the Point-of-Sale is the ultimate channel for digital success; What will be the key tenets of the payments ecosystem in the next five to ten years; And more. Download our sentiment paper today to discover more.

06 December 2023 691 downloads

White Paper

UK Open Banking API Performance 2022-2023

The UK continues to be at the forefront of the global Open Banking revolution thanks to the proactive attitude of regulators. As the most advanced Open Banking market in the world, the UK provides an example of best practices in the implementation of API-based Open Banking that other jurisdictions can use as a model. In this report, we study the performance of the Open Banking APIs exposed by the large CMA9 UK banks, traditional High Street banks, credit card providers and building societies, and new entrant banks (neobanks). Some of our key findings include: There continue to be significant API performance differences between banks; There is a significant difference in total latency between the fastest and slowest banks; Cloud choice makes a huge difference in performance; And more. Download our analysis of Open Banking API services today to learn more.

07 November 2023 651 downloads

Impact Study

What should European Banks prioritise in their payments modernisation journeys?

Payments modernisation is no longer a luxury for financial institutions. Dramatic shifts in consumer appetite, complete overhauls of financial regulation and a need to prioritise resilience mean that banks have little choice but to rethink their systems to operate in this brave new world. European banks have a particularly challenging task ahead of them. ISO 20022, open banking and API enablement initiatives, and the introduction of real-time, cross-border payments makes modernisation of legacy systems ever more complex. This Finextra report, produced in association with Volante Technologies, explores the current European banking landscape and answers: What European deadlines are impacting banks’ payments modernisation plans? How are European countries progressing toward payments modernisation? Will Payments-as-a-Service help firms push payments modernisation ahead? And much more. Download the report today to discover more.

06 November 2023 528 downloads

White Paper

How can the future state of information technology combat fraud and money laundering?

Modernisation programmes, digital service proliferation, client demand and advancing technology are all shaping the evolution and the future of financial services. Real time is the order of the day, and while real time payments come more and more to the fore globally, payment providers need to get up to speed in being able to offer them to their clients and end users, but also to ensure they are deployed and implemented in a fully robust, resilient and secure environment. With real time payments comes real time fraud and the opportunities for value on both sides of the fence is eye-wateringly vast. Firms cannot afford to have payments held up by authorisation checks, fraud and AML controls and yet at the same time the sheer amount of information that should be processed with any given payment in order to scan, approve and hence protect against fraudulent or nefarious activity is great. Institutions are allocating more and more to defend against financial crime and this is at the same time good news and bad news for them. Being smart about such allocations means minimising the resource and disruption presented by legacy systems and instead working around them. Download this Finextra whitepaper, produced in association with Hazelcast, to learn more.

02 November 2023 393 downloads

Future of Report

The Future of Digital Banking in North America 2024

2023 was characterised by increasing amounts of uncertainty and a lack of clarity across the financial world. The collapse of banks, including Silicon Valley Bank, Signature Bank and First Republican Bank, in March 2023, added strain to already unsettled financial markets. While market volatility has remained relatively stable, soaring inflation and climbing interest rates slowed economic growth and this is expected to continue into 2024. While forecasts regarding the length and severity of a possible recession are speculative, experts are even more divided about stock market predictions for 2024. Optimism is strong in many investors who expect that 2024 is the year rates will stop rising and predict bullish turns that will see markets soar to new heights. Yet with many other factors affecting North American markets, the only certainty we can expect as we look towards 2024 is more uncertainty. This Finextra report on the outlook of North American banking trends, is produced in association with Money20/20 and includes key insights and commentary from industry experts at EY and Mastercard.

23 October 2023 741 downloads

Future of Report

The Future of the Global Financial Ecosystem 2024

A Sibos Special Edition. Our world has experienced several unexpected and unprecedented events over the last few years, which show no signs of slowing down. This year’s Sibos aims to connect those in the financial services community who have experienced fragmentation, in the hope that tackling this will help with some of the biggest issues facing banking. The role that financial institutions play in the global environment will continue to be placed under the microscope as situations continue to develop. In light of this, there has never been a better time for those in finance to come together and have frank and open conversations about their future. This applies to not only environmental and social goals for banks, but also the adoption of and adaptation to new technologies. No longer can these issues be placed on the side and given lip service, they need to become an integrated part of each financial institution’s core policies and practices. However, ever increasing this challenge are the continuously changing global circumstances. Due to these circumstances, communication and collaboration are essential drivers for 2024. This Finextra report, produced in association with Swift, includes commentary from BBVA, BNP Paribas, BNY Mellon, Deutsche Bank, ING, JP Morgan, Lloyds, McKinsey, NatWest, SEB, Standard Chartered, UniCredit, and Wells Fargo.

07 September 2023 1060 downloads

Event Report

Entering New and Niche Markets with BaaS

A Financial Cloud Series Report Banking-as-a-Service (BaaS) has emerged as a prominent and steady trend in the banking sector, significantly disrupting the industry and introducing consumers to faster and more personalised services. Working hand-in-hand with embedded finance, BaaS allows third-party distributors to provide banking services, essentially integrating financial services in non-banking infrastructures. Research revealed that the BaaS market is expected to reach $11.34 billion globally by 2030, a huge jump from $2.41 billion in 2020. The rapid acceleration of the BaaS market is due to the speed of digital transformation currently occurring in the financial industry, with a sharply increasing number of banks and consumers seeking to integrate BaaS services into their offerings in order to provide quicker and more efficient experiences. The rapid growth of third-party non-bank platforms has grown exponentially in recent years to incorporate BaaS services into their offerings. The global market has embraced BaaS and new innovations are pushing the trend to become even more significant in the financial industry. BaaS opens up new opportunities for smaller businesses and for a diverse range of companies to facilitate banking operations on a wider scale. The banking sector has evolved and become more diverse and sophisticated through BaaS, which allows companies to focus on what is best for both businesses and banks. To understand how embedded finance and banking as a service can help to transform the backbone of business operations, experts came together for a Finextra webinar, hosted in association with Temenos, 'Entering new and niche markets with BaaS'. The panel explored how banks can best diversify their product offering with cloud.

16 August 2023 304 downloads

Future of Report

The Future of Fintech in Latin America 2023

Many companies, countries and regions have forged ahead in leveraging data, cloud, blockchain and AI. One such region is Latin America, where according to Statista, there are 2,300 registered fintech companies, operating across payments, remittances and lending. Latin America is a region with undoubtedly high user penetration across the internet and associated services, but obstacles to financial inclusion remain and prevent individuals from being banked or served by their financial services providers. What this means is that Latin America is ripe for fintech companies to leverage this opportunity and offer a solution to this substantial, yet online, population. However, some progress has been made. Organisations in Brazil and Mexico saw a staggering $6 billion in investments into fintech companies in 2021. Further to this, in Brazil, the number of finance app downloads increased by 274% from 2019 – 2022 and in Mexico, the number of downloads more than tripled. Paraguay, however, is the country with the highest share of adult population using mobile money services. Digital payments is the area of fintech that is most widely used, accounting for nearly eight in 10 users in 2022. Personal finance, neobanking, and alternative lending are also present within Latin America, with Nubank as a clear success as the largest digital bank in Latin America and one of the largest in the world with 1.34 million. When Latin America leverages technologies such as AI, blockchain, cloud and data, the region will become one of the world’s leaders in fintech and grow across the digital banking, digital payments, personal finance, lending, and investment sectors. This report, in association with NovoPayment, compiles expert insights from a range of firms, including: BBVA, Kueski, PagBank PagSeguro, provides predictions for the future of fintech in Latin America.

09 August 2023 318 downloads