The use of digital payment methods has grown exponentially over the past decade. However, the COVID-19 pandemic has accelerated this trend, with the shift towards online and contactless payments becoming more prevalent than ever before. In this article, we will discuss the impact of COVID-19 on the acceleration of digital payment adoption, the regulatory expectations surrounding digital payments, security measures
The fintech market size reached USD 158.9 billion in 2021, according to recent reports. The growth of the fintech market has been fuelled by technological advancements, increasing digitization, and user-friendly mobile and web applications. Despite the impact of the COVID-19 pandemic on the global economy, the fintech market has continued to grow at a steady pace. The fintech market is
As technology advances, new worlds are created through virtual reality. The Metaverse is one such virtual world, a space where individuals can interact with one another, build, and transact with virtual goods. The potential associated with the Metaverse is immense, but so are the risks. As we move towards integrating this technology further into our lives, the challenges of regulating
The financial services industry is constantly evolving and adapting to the digital era. With technological advancements come new opportunities and challenges. The introduction of blockchain technology has significantly impacted the financial services industry, providing secure and transparent solutions to long-standing issues. In this article, we will explore the various ways in which blockchain technology has the potential to reshape the
Headline: Fintech Lending Industry Shows Increasing Disbursements and a Promising Future. Introduction: The fintech lending industry is revolutionizing the financial sector by increasing access to credit and offering innovative digital experiences. The industry has experienced rapid growth in recent years, with more consumers turning to digital lending platforms for their financing needs. As the industry continues to disrupt traditional banking,
The world has shifted towards technology, and payment methods have evolved from traditional cash transactions to digital ones. The latest trend involves cryptocurrency, which promises to generate massive wealth while evading the taxman’s grasp. However, the IRS reportedly loses around $50 billion annually through unreported crypto trades, a significant chunk that has prompted increased regulations for reporting and paying taxes.
How Banks Can Benefit from the Expansion of Payment Types in the Metaverse The metaverse is a virtual world where people interact with each other, socialize, and conduct transactions. In recent times, individuals and businesses have begun to explore the potential of the metaverse for commerce. With many businesses entering the metaverse and finding new ways to operate within it,
In recent years, e-commerce has become a rapidly growing industry, with more and more businesses investing in online platforms to expand their reach and access valuable customer data. For traditional retail businesses, the shift towards e-commerce presents both opportunities and challenges. Investing in an e-commerce business can expand traditional retail businesses’ reach and provide valuable access to customer data. However,
Embedded finance has rapidly become one of the most talked-about areas of fintech innovation in recent years. Defined as the integration of financial services into non-financial products and services such as retail, mobility, or healthcare, embedded finance is fast becoming a growth opportunity for businesses of all sizes, particularly small and medium-sized enterprises (SMEs). The Growth Potential of the Embedded
Personalized services are ubiquitous, from the recommendations that Netflix offers based on our viewing history to the targeted ads we see on social media. The financial service industry is also recognizing the importance of personalization in its services, with a recent survey by Salesforce highlighting that over half of the consumers surveyed expect their banks to anticipate their needs and
Keytrade Bank, an online bank based in the Benelux region, has announced its transition from legacy core banking technology to a modern, cloud-based platform. In this article, we will examine the details of this transition, the reasons behind it, and the potential impact it may have on Keytrade Bank and the broader banking industry. Keytrade Bank’s legacy core banking system
As we move towards a more digitally enabled world, it’s not just the way we communicate or gather information that’s changing; the way we pay for goods and services is also evolving. Digital payments have become the new norm, replacing traditional methods such as cash or card payments. They offer a faster, more convenient, and secure way to manage transactions.
