Dmitry Dolgorukov CEO at GiniMachine
The past couple of years have been marked by uncertainty both in the financial industry and beyond, with a shift toward remote working, digital-first strategies and a growing e-commerce industry—increasing from $3.46 trillion in 2019 to $5.7 trillion in 2022. For lending organizations, this means that the way business is conducted has changed sign...
22 December 2022 /retail /markets Innovation in Financial Services
It might appear that the countdown to the holiday season has already begun, with gifts and decorations springing up in stores across the country. However, behind the shelves, inflation continues its hold on the markets at around 8%. Many retailers are expecting a more toned-down holiday period with consumer concerns about rising costs, inflation r...
02 November 2022 /payments /retail BNPL
In the wake of the Covid pandemic, fintech transactions rose by 13% and their volume by 11%, indicating significant industry growth. However, two years in, we are facing another new reality as the fintech market starts to mature and consumer expectations evolve alongside it. Abandonment rates of fintech applications are rising with customers becom...
06 July 2022 /retail /startups Banking Strategy, Digital and Transformation
In the past couple of years, we’ve observed significant industry changes unlike ever before. 2020 was a year of reactive action to a global pandemic as companies and businesses scrambled to adjust to what was known as the ‘new normal.’ 2021 marked the acceleration of digital transformation, with over 97% of executives stating it increased the velo...
23 February 2022 /covid-19 /predictions Financial Transformation
What do Blockbuster, Vine, and Compaq have in common? The answer lies at the heart of every business decision ever made—the need to evolve and stay relevant or cease to exist. Some years ago, one savvy business person said it best, “What’s most dangerous in business is to not evolve.” Today, that same person has a net worth of over $200 billion US...
08 February 2022 /predictions Innovation in Financial Services
The finance industry has long been riddled with criticisms of biased lending. Studies show that minority groups often face discrimination when applying for loans. Usually, this results in higher interest rates or even outright rejection. This way inclusive lending can become another opportunity to differentiate from competitors. However, such a pr...
24 December 2021 /sustainable /inclusion Artificial Intelligence and Financial Services
2021 was a year marked by the implementation of the rapid digital transformations that began accelerating when the coronavirus pandemic first hit the world in 2020. Fintech firms and other businesses around the world invested heavily in transforming to meet the needs of the new normal—remote working, social distancing, and a business world changed...
21 December 2021 /predictions Artificial Intelligence and Financial Services
Back when we first heard of Bitcoin in 2009, many brushed off the cryptocurrency as just a new fad, refusing to believe that technology had the power to impact such a stalwart industry as finance. Now, twelve years later, we are seeing tech, and not just crypto, integrate with almost every area of the financial world, from payments to insurance to...
17 November 2021 /predictions Trends in Financial Services
Seventy-three percent of digital transformations fail to produce sustained ROI. At least, that’s what a 2018 study found. It’s an astounding figure considering that at the same time, companies are investing more in upgrading their digital offerings. According to a survey of over 2,500 organizations, 97% of company heads said the pandemic accelerat...
20 October 2021 /predictions Banking Strategy, Digital and Transformation
English monk and poet John Lydgate is attributed with saying, “You can please some of the people all of the time, you can please all of the people some of the time, but you can’t please all of the people all of the time.” Hybrid banking challenges that statement by combining the power of digital service with brick-and-mortar banking. What Is Hyb...
21 September 2021 /retail /predictions Banking Strategy, Digital and Transformation
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