How fintech will destroy the future of retail banking business.
A report Daily Mail On October 13, data from the currency computer office showed that 754 bank branches closed in the first nine months of 2024. Please also read: Revolutionary Fintech: Integration of AI in ERP system This change reflects the continuous changes in consumer preferences, because more and more people choose to manage their financial needs with technical -oriented solutions, rather than visiting physical branches. A designed to reduce costs and meet the demand for interaction opposite the opposite side, which is increasingly closed to increase the branches to improve profitability. This trend emphasizes how fintech can reshape the pattern of retail banking through priority, efficiency and digital innovation. However, the increasing growth of financial technology is not the only reason to close these closes. The low interest rates from 2020 to the first half of 2024 exerted pressure. Bank profit margins, labor shortage, and increased wages forced banks to review costs. After changing the accounting through the automation…
Blockchain explained: Why it’s more than just Bitcoin
Blockchain technology is quickly gaining traction as an advanced system that was originally the inspiration for Bitcoin and now impacts many industries. While many people only associate blockchain with cryptocurrencies, its capabilities extend far beyond virtual currencies. In this newsletter, we’ll dive into the basics of blockchain, highlight its many applications, and explain why it’s more than just Bitcoin. We will also discover how concepts such as Bitcoin wallets function within the wider blockchain environment. Also read: Competitive advantage: Leveraging AI, blockchain and analytics to improve supply chain management What is blockchain Blockchain is a decentralized virtual ledger that counts information in a stable, obvious, and tamper-proof manner. Its key properties include: Decentralization: There is no valuable authority that controls the blockchain; it is maintained through a community of computers (nodes). transparency: All transactions are visible to individuals, increasing trust. Immutability: Once a transaction is recorded, it cannot be changed or deleted. Every piece of data on the blockchain is…
Where to buy tickets for the 2025 Middle East and Dubai Mobile Payment and Electronic Banking Expo
Dubai Middle East Mobile Payment and Electronic Banking Expo 2025 will be held at the Dubai World Trade Center in the United Arab Emirates from 05/20/2025 to 05/22, providing a valuable communications platform to explore for 15,900 visitors and 350 exhibitors from the mobile payment sector. the latest technology and information on industry trends and in-depth discussions with industry leaders. Online ticket booking and ticket application is currently in progress~ Middle East Mobile Payment and Electronic Banking Expo in Dubai Exhibition scale: Exhibition area 20,000 square meters, number of visitors 15,900, 350 exhibitors Exhibition duration: 2025.05.20-05.22 Home address: Sheik Zayed Road Convention Gate Dubai United Arab Emirates - Emirates United Arab Emirates Host Location: Hosted by Dubai World Trade Center, United Arab Emirates Emirates Unit: TERRAPINN Ticket booking guide: 1. Visit the official website of Dubai Middle East Mobile Payment and Electronic Banking Expo or the exhibition page on Juzhan.com. 2. Click the “Ticket Booking” or “Apply Now” button to…
The mobile banking market is expected to grow at a compound annual growth rate of 10%
Mobile banking Enable customers to manage their bank accounts and conduct financial transactions using mobile devices. The apps are enhanced with biometrics and two-factor authentication to ensure a secure, seamless user experience. The intuitive design of mobile banking applications promotes ease of navigation and increases customer satisfaction. They also facilitate real-time communication with banks, eliminating the need for in-person visits. Mobile banking integrates services such as card management, fund transfers, fraud detection and account notifications into one platform, providing convenience, speed and security. Key insights Regional advantage:North America is expected to lead the market over the forecast period owing to its advanced fintech infrastructure, high digital literacy, and tech-savvy population. Financial institutions in the region prioritize secure, user-friendly applications to enhance customer experience. Market dynamics driver: Due to the fast-paced lifestyle of customers, there is an increasing demand for 24/7 banking services. Mobile banking adoption continues to increase to facilitate secure, convenient and fast transactions. limit: Incidents of fraud continue…
Artificial Intelligence’s impact on corporate banking will be $250.3
introduce The integration of artificial intelligence (AI) into corporate banking is reshaping the financial landscape, delivering greater efficiency, improved customer experience and robust risk management. this Global Artificial Intelligence for Corporate Banking Market is expected to grow significantly, reaching the projected Will reach $250.3 million by 2033,from $108.7 million in 2023. This represents a strong compound annual growth rate (CAGR) of 8.7% The forecast period is from 2024 to 2033. The expansion of AI technology in corporate banking is driven by growing demand for automation, enhanced data analytics and improved customer experience. The market is expected to grow significantly in the coming years as banks adopt AI solutions to streamline operations, optimize financial decisions, and reduce risks. Also read: Open banking market expected to expand at 22% CAGR by 2032 North America dominates 31% market share exist Application of artificial intelligence in corporate banking marketthe valuation is US$33.69 million. This strong market position is mainly due to the region's advanced…
The open banking market will expand at a CAGR of 22% by 2032
According to a recent report, the global open banking market will be worth US$23.5 billion in 2023 and is expected to reach US$130.2 billion by the end of 2032. global market insights corp.. Also read: Generative AI in Banking: A vision for next-generation financial solutions and customer engagement Driven by technological innovations in API and data integration and the growing demand for personalized and convenient financial services, the open banking market size will show a compound annual growth rate of 22% between 2024 and 2032. Advanced APIs enable seamless integration between banks and fintechs, enhancing the accessibility and functionality of financial services. Additionally, consumers are increasingly seeking tailored and user-friendly solutions, driving financial institutions to adopt open banking. These technological breakthroughs and consumer preferences are driving market expansion as they help improve service delivery and more personalized financial experiences. For example, in May 2024, Experian launched a new open banking solution designed to enhance lending decisions and increase credit access,…
The Silent War: Banks and Fraudsters in the Real Time
Banks should not view ensuring prompt payments as an obligation but as a key to new product and customer service opportunities. Also read: Why you should optimize your payments stack for successful cross-border expansion Business and consumer demand for instant payments continues to grow, bringing with it broader expectations for immediacy and seamless user experiences. Just as digital services such as video streaming or content downloads offer near-instant access, users now expect payments to match this speed and convenience. There is a global push for real-time payments as it transforms industries by enabling faster transfers of funds, reducing reliance on cash and improving cash flow for businesses. As digital security advances, there is greater emphasis on ensuring these fast transactions remain equally secure and fast. This could not be more important as global instant payments are expected to grow at a compound annual growth rate (CAGR) of more than 35% over the next six years and will account for more…
Regulate banks’ anti-money laundering software to maximize compliance
Discover the complete guide to banking anti-money laundering software and study how it can assist in maximizing regulatory measures in advanced ways. Also Read: Payment Card Reader Integration with Online Banking Platforms Bank anti-money laundering (AML) software has become a practical solution for detecting and preventing financial crime. The global anti-money laundering software market has grown significantly, with revenue increasing compared to previous years. The market expanded steadily in 2016 and 2017, with global revenue expected to reach approximately $1.77 billion by 2023. This surge reflects growing regulatory requirements in the banking industry and the need for advanced solutions to combat money laundering. What is anti-money laundering compliance software? Anti-money laundering compliance software is an enhanced approach that helps businesses and businesses identify financial fraud occurring in their institutions. It involves entities recognized by government agencies, such as insurance agencies and financial services institutions. It is used to expose violations related to illegal activities, such as terrorist financing and money…
Leveraging blockchain for international remittance success
Cross-border payments and international remittances are becoming increasingly important in a globalized world. As more people live, work and do business across borders, the need for fast, affordable and transparent ways to send money internationally continues to grow. However, traditional remittance services struggle to meet these needs—they often Charge high fees Up to 11% per transaction, slow processing times, and lack of transparency on fees and foreign exchange rates. Also Read: Fintech Blockchain Market Boom: Revenue of $325.6 Billion Blockchain technology has emerged as a potentially disruptive solution that could transform international money transfers. Blockchain is a decentralized distributed ledger that provides security, immutability, transparency and faster transaction times. By leveraging blockchain, banks can facilitate cheaper, faster and more traceable cross-border payments. Blockchain eliminates unnecessary intermediaries and greatly reduces costs for customers. As globalization increases the need for seamless payments across the globe, innovative banks have the opportunity to stay ahead of the curve and provide efficient remittance services through…
Generative AI in banking: A next-generation financial outlook
Report overview Generative AI in banking represents a transformative leap in the way financial institutions operate, interact with customers and manage data. The technology, which involves artificial intelligence systems that can generate text, images and other forms of data, is increasingly being integrated into a variety of banking processes. Also read: Generative AI revenue in fintech market to surge to $16.4 billion in 2032 this Global Generative AI for the Banking Market is expected to grow significantly, reaching an estimated value of approx. will reach US$13.957 billion by 2033, rising from dollar 818 million exist 2023. This rapid expansion highlights the increasing integration of generative AI technology in the banking industry. The market is expected to grow at a compound annual growth rate (CAGR) 32.8% From 2024 to 2033. This market is expected to experience significant growth over the next decade as financial institutions increasingly adopt artificial intelligence solutions to enhance operations such as fraud detection, customer service automation, personalized…
Dollar strengthens on Japan uncertainty and US election
The dollar hit a three-month high against the yen on Tuesday, supported by political instability in Japan and a series of upcoming economic events, including next week's U.S. election. While the U.S. dollar was little changed against most other major currencies, market participants are closely watching new economic data and political developments to determine future trends. Also read: BRICS embrace economic independence, exclude dollar from global trade Political turmoil weakens yen Japan's ruling coalition lost its parliamentary majority in recent elections, creating uncertainty about political direction and monetary policy, putting pressure on the yen. The Bank of Japan (BOJ) is expected to announce a monetary policy decision on Thursday, with analysts not expecting any changes to interest rates. The dollar rose 0.1% against the yen on the day to 153.365 yen, continuing this trend, which may lead to the dollar's largest monthly gain in more than two years. U.S. data boosts dollar outlook Recent U.S. data highlight the mixed economic…
How to choose the right anti-money laundering software for your bank?
Learn the key factors in selecting the best AML software for banks. Learn how to protect your institution from fines and regulatory penalties using effective compliance and risk management tools. Over the past decade, from 2013 to 2023, more than 16,000 entities worldwide have been penalized by regulators. Establishing business relationships with sanctioned persons, non-compliance with anti-money laundering laws, money laundering, drug trafficking, and other financial frauds are the main reasons for these fines and penalties. Despite the huge fines and penalties, more than 90% of money laundering crimes go undetected. Are criminals smarter or are AML software unable to detect these crimes in real time? Whatever the reason, advanced, accurate and efficient Anti-money laundering software for banking Every suspicious transaction can be detected in real time. Therefore, it is necessary to choose an anti-money laundering solution suitable for the bank. Is there any protocol that every bank and financial institution must follow while choosing AML compliance software for their…
5 Upcoming Banking & Finance Trade Shows in Germany: Blog
By admin | August 27, 2024 Today, the world of business and trade has a significant impact on the world, and Germany has become a leading financial power. Due to its popularity, you can experience a variety of banking and financial trade fairs in Germany. Attending these exhibitions will not only enhance your business expertise, but also provide valuable opportunities to network with top key players in the industry. Below we have listed the top five banking events in Germany that can bring success to your business. Global Business Summit (GBS) 2025 May 25-26, 2025Location: Berlin, Germany At the fifth Global Business Summit held in Germany, industry leaders, policymakers, professionals and scholars gathered to discuss economic transformation and the impact of political issues on the economy, and to establish connections between global economic fundamentals. The Global Business Summit aims to provide solutions to some of the most critical macroeconomic issues currently being debated, provide insights into future economic growth and…
Payment card reader integration with online banking
No online banking or transaction is complete without payment cards. The increasing adoption of payment cards across the globe has fueled the payment card reader market. A payment card reader is a device that allows businesses to accept payments from customers using debit cards, credit cards, or even contactless payments through Apple Pay or UPI. It helps businesses process payments quickly, enhance customer experience, and reduce the risk of fraud. It is widely used in industries such as retail, transportation, banking, hospitality, healthcare, and e-commerce. According to a Consegic Business Intelligence report, Payment Card Reader Market The size is expected to increase from US$17,414.53 million in 2023 to US$61,771.27 million in 2031, and is expected to grow by US$20,090.45 million by 2024, at a CAGR of 17.1% between 2024 and 2031. The integration of payment card readers with online banking platforms is a transformative development in the financial sector. It guarantees convenience, security, and efficiency. Also read: Online Banking Trends:…
Payment card reader integration with online banking
No online banking or transaction is complete without payment cards. The increasing adoption of payment cards across the globe has fueled the payment card reader market. A payment card reader is a device that allows businesses to accept payments from customers using debit cards, credit cards, or even contactless payments through Apple Pay or UPI. It helps businesses process payments quickly, enhance customer experience, and reduce the risk of fraud. It is widely used in industries such as retail, transportation, banking, hospitality, healthcare, and e-commerce. According to a Consegic Business Intelligence report, Payment Card Reader Market The size is expected to increase from US$17,414.53 million in 2023 to US$61,771.27 million in 2031, and is expected to grow by US$20,090.45 million by 2024, at a CAGR of 17.1% between 2024 and 2031. The integration of payment card readers with online banking platforms is a transformative development in the financial sector. It guarantees convenience, security, and efficiency. Also read: Online Banking Trends:…
Explore the latest exhibition information and industry trends at ASAP Expo Magazine. Your one-stop platform, bringing together global exhibition highlights, industry trends and in-depth analysis, to help companies accurately connect with the market and seize business opportunities.
