Trends in Banking – Report Bundle (9 Reports)

Trends in Banking Industry Bundle Report Overview

The banking sector is going through a profound transformation, accelerated by the global COVID-19 pandemic. Amid a fast-moving, unpredictable situation, the banks most invested in key technologies were at a considerable advantage, able to ingest a much greater volume and variety of data to inform decision-making. For instance, banks most invested in the cloud were able to absorb the massive increase in remote working and customer digital adoption with limited-service disruption during the pandemic. The ‘trends in banking’ identifies digital trends that will shape the banking strategies in the coming years.

As a part of this bundle, you will gain access to in-depth insights available in the following reports:

• Thematic Research: Alternative Credit Scoring
• Thematic Research: Adapting to Ultra-Low Interest Rates
• Thematic Research: Payments Sector Scorecard
• Thematic Research: Banking Sector Scorecard
• Thematic Research: Financial Wellbeing
• Thematic Research: Wealth Management Sector Scorecard
• Thematic Research: Regulation in Banking
• Thematic Research: Open Banking
• Thematic Research: Banking Predictions

Report 1: Thematic Research: Adapting to Ultra-Low Interest Rates

Since 2007’s global financial crisis, many of the world’s most developed economies have been dealing with ultra-low interest rates. Moreover, as the impact of the COVID-19 crisis is expected to remain with us, it is likely that ultra-low interest rates will become a feature of the market that retail banks will have to adapt to. With net interest margin being compressed for the past decade and likely to be ultra-low for at least another two years, banks have had to adapt to find new avenues of revenue and profitability.

Valuation of Banking

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Report 2: Thematic Research: Banking Predictions 

The major technology themes impacting the banking industry in 2022 will be digital banking, Fintech, online payments, cryptocurrency, cloud computing, artificial intelligence (AI), the Internet of Things (IoT), healthtech, robotic process automation (RPA), metaverse, augmented reality (AR), and social media among many others. For instance, AI is the single most disruptive technology theme within financial services, with the most wide-ranging potential applications. Likewise, many financial service providers will migrate core banking to the cloud. Furthermore, macroeconomic factors such as geopolitical tensions, ongoing M&A activities, and ESG concerns will significantly impact the banking industry in 2022.

Report 3: Thematic Research: Banking Sector Scorecard 

Analyzing the world’s data by themes helps retail banks to gain a competitive overview and future success. COVID-19 prominently impacted the banking sector. Amid a fast-moving, unpredictable situation, the banks most invested in key technology themes were at a considerable advantage. The banking sector continued to profit from AI technology. Most banks now use AI to reduce friction and increase effectiveness during customer authentication and onboarding. Automation has also helped new entrants undercut incumbents’ fees and deliver greater convenience. Another biggest theme impacting the banking sector is customer experience. Many banks have already poured millions into customer experience projects. The other significant themes shaping the banking sector are cloud, ESG, cybersecurity, and regulations.

Report 4: Thematic Research: Open Banking 

Open banking creates a multidimensional view of what the core value of banking is. The ability to disaggregate component pieces of value, and to distribute them in multiple forms, becomes a core competency in the open banking era. PayPal, Klarna, and Revolut, among others, have declared plans to become a super app, taking the first steps towards building ecosystems that integrate features such as mobile payments, shopping, investing, savings, budgeting, and crypto capabilities onto a single platform. In open banking, consumers have the power to share their account and transaction data with chosen third parties. The value chain categories in open banking include direct-to-consumer, as-a-service, B2B/B2B2C, and marketplace/platform.

Report 5: Thematic Research: Payments Sector Scorecard 

Artificial intelligence (AI), blockchain, cybersecurity, mobile payments, new regulations in the fintech sector, the e-commerce boom, the creation of robust full-service digital ecosystems, the impact of COVID-19, wide adoption of cloud technology, and sustainability programs are the key trends in the payments industry that has accelerated the pace of digitization – leading to the much-discussed “cashless society.” For instance, Central banks have seen an opportunity in blockchain to develop their own central bank digital currencies (CBDCs). Likewise, Technology companies are developing mobile POS software, turning smartphones into points of sale.

Themes Driving Growth in the Banking and Payments Sector

Report 6: Regulation in Banking and Payment Industry – Thematic Research

The banking industry ranks first in the annual cost of cyberattacks globally. This is the reason why Danske Bank has employed Teradata’s AI product for securing its systems. BNPL is one of the popular alternative credit options. The growth in the value of BNPL transactions quadrupled in the UK last year. It was partly driven by COVID-related lockdowns. The pandemic has also changed the priority of customers. The experience of dual health as well as the economic crisis has created a heightened sense of community.

Report 7: Thematic Research: Alternative Credit Scoring

The alternative credit scoring market exists outside of traditional providers. However, incumbent providers are incorporating elements of alternative risk assessment. This is the most likely way for most consumers to benefit from alternative credit scoring faster. The growth forecasts are estimated depending upon the market hooks for non-traditional lenders like funding, credit scoring, customer acquisition, and/or CRM/servicing. Digital technologies like cloud, robotic process automation, and big data are expected to aid digital lenders in processing massive loan volumes quickly and restructuring loans at minimum marginal costs.

Growth of Big Tech and Fintech Lending

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Report 8: Thematic Research: Financial Wellbeing

Banks and insurers are offering wellness components in their business product proposition such as financial tips, software analysis, budgeting tools, specialized account features, and even formal advice and debt restructuring. The key technology trends that will shape financial well-being are PFM software, big data analytics, artificial intelligence (AI), and wearables. Banks are focusing on wellness offerings to add stickiness to the main financial institution relationship, such as health-related benefits for group life or health insurance policy and financial advice for retirement products.

Report 9: Thematic Research: Wealth Management Sector Scorecard 

The wealth management sector is severely affected by COVID-19. Wealthtechs continued to profit from the digital transformation of the industry and only attracted more customers and grew AUM in 2021. Most wealth managers are now investing in AI. Even traditional wealth managers have upped their game in utilizing this technology. Another biggest theme impacting the wealth management sector is personalization. Deutsche Bank has worked in partnership with Google Cloud for multiple reasons, including creating more personalized endorsements for customers. Historically, the wealth space has lagged behind other industries when it comes to digitalization. Cybersecurity, data privacy, and ESG are some of the significant themes prominently impacting the wealth industries.

Wealth Management Sector Scorecard Thematic Screen

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