MIT Sloan FinTech’s Post

#Fintechs and #banks play an increasingly important role in the global #realtimepayments ecosystem. Larger banks must forge new partnerships with fintechs and reevaluate strategies to remain competitive.

For the first time, ACI Worldwide and GlobalData Plc have taken a deep dive into key global #realtimepayment markets and how #transactions are shared among key players. The research yields some surprising results — #fintechs and smaller #banks play an increasingly important role in the real-time payments ecosystems of the world. Larger banks must forge new partnerships with fintechs and reevaluate strategies to remain competitive. We start with an in-depth look at the U.S. market: 🏛️ FedNow will look to plug existing gaps in the current market by expanding coverage of #realtimepayments within #financialinstitutions of all sizes ⏩ The ubiquity enabled by #FedNow will make real-time payments feasible for a wide variety of new use cases ⏩ Competition breeds #innovation, and it is reasonable to expect to see new developments from all real-time schemes and related service providers in response to FedNow. Get the full breakdown of trends. https://lnkd.in/gedKJfQb

2024 will be a year of reckoning for fintech providers. A more difficult macroeconomic environment will see new entrants and established fintech companies prioritize profitability rather than “growth at all costs”. Investors will demand shorter, clearer paths to profitability, and demand clarity on core revenue-generating products. There will be far less tolerance for vanity acquisition numbers, or expansion into new products, or new markets, with, instead, a firm focus on unit economics. Feel free to reach out for more insights into the banking sector such as predictions for 2024 and who will be the winners & losers. #banking #fintech #themes #2024predictions

Very pleased to be part of the Fintech Americas agenda next week in #Miami to share perspectives on how tech advancements, strong consumer demand as well as banking and fintech executives' bullish views on value are fueling the growth of #B2B2C digital insurance partnerships. Looking forward to sharing Chubb's global research on key themes, expectations and the drivers of value creation for banks and fintechs, which include the opportunity to help build #financialresilience for consumers, as well as the broader economy. Hope to see you there! #FintechAmericasMiami2024 #ChubbStudio #embeddedinsurance #digitalinsurance #fintech #insurtech #digitalbanking #APIs #protection #resilience #ChubbDigital

🗣 Raidiam co-founder and CEO Barry O'Donohoe is one of the speakers at this year's Innovate Finance Global Summit. Barry will be on the panel for the ‘Tomorrow’s Threatscape – Cyber Trends, AI dynamics and Global Risks’ session on 15 April. Find out more below. ⤵ #UKFintechWeek #Fintech #CyberSecurity

What a dynamic and insightful panel discussion we had at Global Fintech Fest 2024! It was a deep dive into how the Unified Platform approach shapes financial services (FS) and non-financial services (non-FS) use cases for SMEs and MSMEs. The diverse expertise on the panel truly made it a conversation to remember. 1. Ajay Rajan shared insights from his 27 years in banking, highlighting how YES BANK has evolved to offer a wide range of services for SMEs and MSMEs through their expanded portals. It was exciting to hear how Castler fits into their API market list and plays a role in this ever-evolving ecosystem. 2. Bhavesh Jain from TransUnion CIBIL Limited shared valuable lessons on identity verification’s crucial role in lending and how their non-FS use cases open up new opportunities in fintech. 3. Pallavi Shrivastava discussed Progcap’s innovative credit line for MSMEs and their approach towards lending for micro-enterprises. We also exchanged insights on scaling payment solutions for small-scale enterprises, adding real depth to the conversation. 4. Rohit Prasad from Easebuzz shared his journey in building a successful payments stack for SMEs and MSMEs. It was impressive to see how Easebuzz has quickly become a flag bearer in empowering small businesses with effective payment solutions. The audience engagement was fantastic, with a turnout exceeding our expectations. The Q&A session was lively, with thoughtful questions from the audience that offered validation that people cared about our topic. 🤗 To me, this panel was more than just a discussion; it was a meaningful exchange of ideas that could change how we approach financial services for SMEs and MSMEs. For those present in the discussion, what points from the talk resonated with you? #GFF2024 #Fintech #Castler #Paneldiscussion #MSMEs IAMAI Sandeep Jhingran Gaurav Chopra

2024 has brought too many questions, especially for the financial services industry, which again stands on the verge of massive transformational change. Besides global economy concerns and geopolitical instability carried over into this year, banking executives feel optimistic about industry development in 2024. Why do we think so? According to the 2024 State of Banking by Dragonfly Financial Technologies, 92% of banks plan to either increase their IT spending or keep it as it is. Those investments should go somewhere, right? So, let’s see what’s on the list in 2024. #bankingindustry #bankingtechnology #digitalcurrencies #generativeai #paymentsindustry #realtimepayments

The Fintech Revolution: Hidden Insights from Global Fintech Fest 2024! 💡 Recently, I attended an insightful Expert Panel at #GlobalFintechFest2024 featuring industry leaders like Kunal Shah (CRED), Shailendra J Singh (Peak XV Partners), Amrish Rau (Pine Labs), and Dilip Asbe (National Payments Corporation Of India (NPCI)). Key takeaways that are shaping the Future of Fintech: 💰 Speed of Money: Seamless, real-time transactions are the backbone of the next wave of fintech. 🔐 Tokenization: Enhancing security in digital payments while maintaining privacy. 🛠️ Digital Public Infrastructure: The foundation for inclusive financial ecosystems powered by innovation. 📊 Account Aggregator: Revolutionizing how financial data is accessed, shared, and used responsibly. 📈 Credit & Collections: Emerging digital models for more efficient, transparent credit and repayment systems. 🏦 Digital Banks: Fintech players transforming the banking experience for millions. 🛑 Concern - Tech has associated Risk. ✅ Vision - Banking access will explode. Everyone believed that #ArtificialIntelligence will have transformational changes in #Fintech. The future of finance is here, and it’s faster, smarter, and more inclusive. 🚀 Jay Pandya #FintechRevolution #DigitalTransformation #FutureOfFinance #InvestInIndia #DigitalBanks

VC in the UK by sector – Q1 2024 👉 The HSBC Innovation Banking Term Sheet report, highlighted that ClimateTech and AI investment saw the greatest % increase of total term sheets in 2023, representing c.20% of term sheets surveyed. With Fintech, seeing a decline (5%). 👉 The Dealroom.co report, (whilst using a slightly different methodology for categorisation of sectors), highlights Fintech has bounced back and was the most founded vertical in Q124, driven by late stage rounds for Monzo, Flagstone and PPRO. 👉 See full report here 👇 https://lnkd.in/d-gFuwqu #VC #sectors Mat Lauren

Future Of Fintech | ULI | NPCI's Dilip Asbe Explains How Credit Will Power UPI's Growth: GlobalFintechFest #DilipAsbe #NPCI #UPI #DigitalPayments At the Global Fintech Fest (GFF), Dilip Asbe, MD & CEO of the National Payments ...