Additionally, the article touches on underappreciated trends in corporate banking, where a shift from batch to real-time transactions is underway. This transformation is expected to enhance transaction processing volumes and better serve customer demands. The article also provides a brief overview of fintech innovations and partnerships across various regions, including the Middle East, Central and Southern Asia, Latin America, and Central and Eastern Europe, highlighting the global nature of fintech advancements and opportunities.
Key takeaways:
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- High-growth markets in APAC and Africa present significant opportunities for financial institutions, driven by young, digitally-native populations and supportive regulatory environments.
- Small businesses in APAC require tailored financial services, moving away from traditional retail or corporate offerings, facilitated by agile, cloud-native infrastructures.
- Legacy technology has limited financial institutions' ability to innovate, but cloud-native, microservice, and API-based platforms are enabling new solutions and hyper-personalization.
- AI, supported by high-quality, unsiloed data, can enhance customer personalization, integration, and product development in financial services.