Prøve GULL - Gratis
Payments sector poised for vast changes
Banking Frontiers
|November 2020
The covid pandemic has unprecedented impact on the payments systems across the globe and there is need for wider adoption of technology:
-

Global consultancy McKinsey & Co has brought out The 2020 McKinsey Global Payments Report highlighting the shadow cast by the covid pandemic and how the crisis is having a significant and widespread effect on global payments across sectors.
The report looks at 4 areas of payments, which it considers “critical to achieving success in the context of accelerated change”: the merchant-acquiring business, which was already undergoing significant transformation; specific opportunity for small- and medium-size, enterprises, a segment that has historically been expensive to serve for large incumbents, but which has been the focus of many fintech attackers and is well overdue for a closer look; supply chain finance has long been considered to be a source of untapped value, but unlike other payments sectors, has struggled to develop enough momentum to address its structural challenges; and the challenge many established payments providers are facing the need to transform the operating model to meet the growing imperatives for efficiency, scale, modularity, and global interoperability.
We are bringing the salient points raised in the report in 3 parts. The first part discusses the overview of the global payments sector and how the events in early 2020 impacted the sector.
DECLINE IN REVENUES
Denne historien er fra November 2020-utgaven av Banking Frontiers.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA Banking Frontiers
Banking Frontiers
Enhanced use of AI ensures optimal growth for banks
A recent Accenture study underlines the need for enterprises to go beyond the implementation of Al-based chatbots and make AI a part of their strategic bets:
4 mins
September 2025

Banking Frontiers
State Bank of India for New Branch Channel
For the Finnoviti 2025 Awards, State Bank of India filed a nomination for its largest CBS transformation program.
1 mins
September 2025

Banking Frontiers
It's imperative for banks to use PETS
A recent report by a global consultancy strongly recommends that Indian banks should make use of PETs, or Privacy-Enhancing Technologies:
3 mins
September 2025

Banking Frontiers
Aaya hoon toh kuch leke jaunga
Two things unlearned in 2024: Unlearning can be one of the most challenging aspects of life because what we've learned often stays with us. (i) However, one of the most important things I've unlearned is taking my health for granted. After facing significant health challenges, I've made a conscious effort to prioritize my well-being and gradually detoxify my lifestyle. (ii) Another key realization for me has been that there’s no age limit to learning. When I took on the role of CEO at ITI Mutual Fund, I had to step into a new world filled with fresh responsibilities and learning opportunities. As the saying goes, 'with great power comes great responsibility,' and I believe that to lead effectively, one must be committed to continuous learning and personal growth.
5 mins
September 2025

Banking Frontiers
Bank of Baroda for use of IT to accelerate Competence, Commitment & Culture
For the Finnoviti 2025 Awards, Bank of Baroda filed a nomination for use of IT to accelerate HR objectives.
1 mins
September 2025
Banking Frontiers
Airtel Payments Bank for Face Match
For the Finnoviti 2025 Awards, Airtel Payments Bank filed a nomination for AI/ML based face match for proactive fraud prevention.
1 mins
September 2025

Banking Frontiers
Canara Bank for Junior Savings Account
For the Finnoviti 2025 Awards, Canara Bank filed a nomination for its youth oriented junior savings account.
2 mins
September 2025

Banking Frontiers
HDFC Bank for Vigil Aunty Concept and Camapign
For the Finnoviti 2025 Awards, HDFC Bank filed a nomination for cyber fraud awareness & secure banking education.
2 mins
September 2025

Banking Frontiers
CMO's Festive Playbook: Schemes, Campaigns & AI
The annual festive season opens new doors for banks. MVS Murthy, Chief Marketing Officer at Federal Bank and Sujit Shakya, Sr. Dy. CEO at Nabil Bank, reveal their playbook for the 2025 festive season:
4 mins
September 2025

Banking Frontiers
State Bank of India for MPLADS e-Sakshi App
For the Finnoviti 2025 Awards, State Bank of India filed a nomination for its MPLADS e-Sakshi App.
1 min
September 2025
Translate
Change font size