With fintechs under pressure, 2024 offers traditional institutions a rare window of opportunity to regain ground lost to digital disruptors over the past two decades. But to be successful, banks need to shift from product-centric to customer-driven innovation. The pace of innovation seems poised to only accelerate in 2024 and it is wanted to understand how banks can keep pace. To remain competitive and relevant, banks must create products and services that both solve their…

The growth projections for the buy now, pay later business in 2024 are generally optimistic. But things aren’t all upbeat.  A new study by Juniper Research projects that the global buy now, pay later transaction value will more than double in the next four years, from $334 billion in 2024 to $687 billion in 2028. Activity will spread to new markets. Getting into it a little deeper, it realised that a lot of the volume…

In most retail-banking markets, a few large institutions, operating at similar efficiency ratios, dominate market share. Changes to the retail-banking business model have mostly come in response to regulatory shifts, as opposed to a purposeful reimagining of what the winning bank of the future will look like. Retail banks have long competed on distribution, realising economies of scale through network effects, and investments in brand and infrastructure. But even those scale economies have limits above…

Only a year goes by without major events – whether geopolitical, financial, or something completely unexpected like a global pandemic – that intensely impact financial markets, the economy, and the banks. Last year was no exception, and 2024 is on track to remain challenging. The collapse of Silicon Valley Bank and two other large banks in early 2023 put a spotlight on interest rate risk management. The suddenness and severity of their fall ramped up…