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Latest Results from /predictions

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EBAday: Payments trends to watch out for in 2024

EBAday, the premier event for industry professionals across transaction banking and payments covers all aspects of the sector, in degrees of depth unseen at other conferences. The second day of the event saw senior executives listen in to sessions on instant payments, correspondent banking, regulation, innovation, Payments as a Service (PaaS) and models for public and private sector collaboration. Here’s a roundup of the most discussed themes and what to expect in 2024.

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Majority of consumers trust generative AI for financial planning

The majority (53%) of consumers trust generative AI technology to be used for its financial planning, suggests recently published research.

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Banks to spend $57bn on legacy payments tech in 2028 - study

Global banks are expected to spend $57.1 billion on legacy payments technology in 2028, up from $36.7 billion in 2022, impacting costs and limiting growth, according to research from IDC Financial Insights.

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Fintech to become $1.5 trillion industry by 2030

Financial technology revenues are projected to grow sixfold from $245 billion to $1.5 trillion by 2030, according to a report from Boston Consulting Group (BCG) and QED Investors.

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Offline CBDC could boost financial inclusion and privacy - Bank of Canada

An offline CBDC could offer a compliment to cash that would boost financial inclusion and preserve privacy, suggests a note from the Bank of Canada.

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Australian BNPL player Zip puts head above parapet; forecasts break-even by year-end

Sydney-listed buy now, pay later player Zip is forecasting to hit break-even by the end of the year after significantly downsizing its operations to reduce cash burn.

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Finextra's year in review

With 2022 drawing to a close, we take a look back at our most popular news items, videos and community engagement activities over the course of the past year.

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2023 predictions: Citi forecasts weakest annual global economic growth in 40 years

A recent Citi Global Wealth Investments (CGWI) report has predicted the weakest annual global economic growth in forty years, outside of the global financial crisis and pandemic shutdowns.

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ECB payments experts sound the death knell for bitcoin

Senior payments experts at the European Central Bank have dismissed bitcoin as a marketing scam that should not be legitimised by regulatory intervention.

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UK SMEs to prioritise international expansion in 2023 - Airwallex

A recent survey by Airwallex reveals that UK small and medium entreprises (SMEs) are highly motivated to expand abroad over the next 12 months, with a majority focused on markets in Europe and North America.

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Fund services firms lagging in digital journey

Despite the fact that the vast majority of trust, corporate and fund services see the benefit of adopting digital technology, only a third have actually started on their digitalisation projects.

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Survey shows support for shorter settlement cycles

The majority of market participants expect the settlement cycle for equities to shorten to T+1 within the next five years, according to recently published research.