We've arrived at the last stop of 2021.
And are all set to welcome 2022!
This year was incredible for us. Amongst our other accomplishments, we expanded our knowledge base across a wide range of topics such as payments architecture, BNPL, cross-border payments and more.
In this edition of FinTalk, let's round-up 2021 with our top articles.
Here we go!
Interested in Fintech? But the fintech vocabulary is confusing you? We got you covered! Start your journey exclusively with '50 Fintech Terms You Must Know'. Read on to master the jargons of the fintech ecosystem.
Understand the basics of Payments architecture with the two mighty players - the Payment Gateway and Payment Switch. This powerful duo is at the center of every scalable payment method that today's banks and businesses are trying to deploy for a niche customer experience. Read more.
Want to extract maximum value from BNPL and not sure where to start? Here's something useful! Check out our article on top BNPL business models, existing consumer financing models, strategies, and audience segments to target. Click here.
Tracing international payments has always been a blind spot in cross-border payments. But Fintechs today are moving the needle by bringing much-needed transparency into focus with innovative techniques. To know more about cross-border payments. Read here.
Did you know that 82% of customers rate user experience as a key factor while banking? Neo banks cater to this customer need by offering personalized and flexible services. Read more.
In 2021, 8,775 fintech startups emerged in the Americas.
By 2022, the global financial services market is set to reach $26.5 trillion.
The fintech transaction value is projected to grow at 20% CAGR from $66 Bn to $138 Bn by 2023.
Global money transfers and payments have a 75% fintech adoption rate.
Blockchain can cut RegTech costs by as much as $4.6 Bn annually.
INDIA
The Joint Working Group (JWG) on Fintech announced that India and Singapore would collaborate to excel in the fields of developing APIs (Application Programming Interfaces), integrating RuPay- Network for Electronic Transfers (NETS), UPI- FAST payment link and e-KYC.
UK
Many banks are shutting down their branch networks as the COVID pandemic transitioned them to digital channels. In 2021, the UK banks have shut down 736 branches and are set to close 220 more in 2022.
AFRICA
According to Digest Africa, Fintech firms are growing exponentially and have raised $906 M in the last quarter of the year 2021.
US
To enhance the client experience, Bank of America has entered the luxury credit card space with their new 'Premium Rewards Elite credit card' that gives the users access to a luxury lifestyle with travel benefits and redeemable rewards.
MENA
To speed up digital banking, open finance, and customer engagement transformations, Arab National Bank (Saudi Arabia) has signed up for open hybrid technologies with Red Hat Inc, a US-based open-source solutions provider.
Introducing Tether
Tether - A community for Fintech founders, marketers & enthusiasts conducted a "Panel discussion on Tokenisation" to shed light on the possibilities and future of secured transactions. The event organized by Tether saw eminent panelists from various financial institutions share their expertise at the forum. Watch here.
The Future of Banking
M2P at an intriguing panel discussion organized by Payments Council of India titled "Bank as a Platform to Platform as a Bank. The future of Banking?" Our Co-founder, Madhusudanan R, moderated the event, which saw Tarun Nazare of Neokred, Sambhav Jain of FamPay, and Sujatha Mohan of HDFC Bank, participate. We thank the organizers, sponsors, and participants for a truly engaging session. Watch here.
That's it for now. See you again soon with all the need-to-know fintech updates!
Stay tuned. Stay curious.
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