Regulation driving banking transformation

whitePaper | June 14, 2022

For the last few years, Financial Services CFOs and their finance teams have been tasked with implementing a digital finance department. While some moved ahead and made significant improvements to legacy systems and processes, many pushed off projects or made small improvements.

whitePaper | May 10, 2023

Fintech” is a word that’s barely a generation old. But in that nanosecond of historical time, this amalgam of “finance” and “technology” or, more specifically, the array of products and services that fintech companies have brought to life—has had an impact on the daily lives of billions of people.

whitePaper | July 15, 2022

BNPL has grown rapidly as a lending product for consumers over the last few years. The idea of paying for purchases over time through a few interestfree payments is highly appealing to customers. BNPL firms have rapidly grown revenues as product adoption has increased. Most of this growth is led by fintechs while banks have been trying to play catch-up. Arguably, banks have lagged behind because fintech firms have been able to use their tech advantage to appeal to a wide consumer base and have reduced friction in the customer lending journey. However, industry experts also admit that a lot of this performance disparity may be due to regulatory arbitrage. Large banks face higher scrutiny when compared to fintechs and nonbanking lenders on policies, processes, and analytical strategies.

whitePaper | September 30, 2022

The pandemic caused lasting changes in consumer behavior, and the financial industry must adapt to the rapidly-evolving market. Stay-at-home orders caused many to shift to digital transactions, and these new habits have dramatically accelerated the need for payments systems modernization at financial institutions of all sizes. Legacy financial systems are ill-equipped to handle the rising volume of payments. Cyber fraud concerns have also increased as fraudsters around the globe developed sophisticated new ways to exploit financial systems, at a time when many institutions are still facing staffing shortages. Combined, these factors have made modernization of payments systems a top priority. “The dialogue in the U.S. payments ecosystem has irreversibly shifted toward offering increased speed, more choices, and simpler ways of sending and receiving payments," according to a 2022 Federal Reserve report.

whitePaper | January 20, 2020

Over the past year we have seen a number of groundbreaking announcements from central banks around the world exploring the issuance of central bank digital currencies (CBDC). In this paper we provide an overview of the potential and risks of CBDC, as well as an example of how a CBDC could be designed and built on the Ethereum blockchain. The intention is to give the reader not just a good background to this important topic, but also – by means of a concrete proposal – a practical look at what the implementation of a CBDC might entail.

whitePaper | February 4, 2020

Banks are also open to innovation, with a perhaps surprising 83% focusing most of their technology efforts on the front office and 56% on CRM in the last three years. This reflects a focus on improving the digital customer experience and becoming more customer-centric. We're now seeing the wave of digitalization that has swept through retail banking move through SME business banking, which represents $1 trillion (20%) of bank revenues worldwide but sees the biggest gaps in funding and customer satisfaction (estimated at $5tr by the World Economic Forum).