Fasanara Fintech Weekly

Technological COVID19, The Economy 2020, The Future of Banking, Deutsch Amazon & Other News



Happy Tuesday!



At this time:


  • How COVID - 19 has pushed companies over the technology tipping point

  • The Future of Banking: Digital Transformation

  • Financing the Economy 2020

  • Barclays tie-up with Amazon in Germany Shows how the Technology upending the sector

  • Bank Application gets Corona-virus Boost



How COVID-19 has pushed companies over the technology tipping point.



The COVID-19 crisis has sped up the adoption of technology with particular emphasis on customer interactions. This technology has enabled firms to respond quicker and more effectively to the challenges posed by the coronavirus crisis.


Most of these adoptions are those that are likely here to stay, such as migration to the cloud or the increasing use of data in corporate decision making. The outcomes achieved during the crisis have also aided in changing mindsets of executives who were initially somewhat sceptical but leading companies with declining revenues.


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The Future of Banking: Digital Transformation.



We are facing a profound period of change in wholesale banking. The leadership teams that are able to make savvy investments to banks’ capabilities and cultures will emerge as the winners. Increasingly, getting the “tech” and “touch” components right will deliver the distinctive experiences clients are coming to expect. Intelligent automation, combined with powerful data and analytics-driven insights from real-time signals (“telemetry data”), will create differentiating new values.


When these are built into client workflows in an easily consumable manner (e.g., automated payment type selections using ML trading-off ease, speed, cost, security, recipient preferences, etc.), they will simplify the future of banking for customers. In this paper, CRISIL Coalition Greenwich provides guidance for wholesale banks planning major technology investments to effectively target these expenditures.

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Financing the Economy 2020.



Private credit providers continued to be a vital source of finance to borrowers during 2020, especially those who required flexible capital solutions and are outside the typical risk appetite of banks. The impact of 2020’s economic disruption has not been evenly felt across the sector. The pandemic is likely to have magnified existing differences between managers on origination processes, deal structuring and risk management. Some dispersion of performance among managers is therefore to be expected during 2020 and in 2021.


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Barclays tie-up with Amazon in Germany shows how the technology is upending the sector.



An agreement that mostly stayed under the radar due to US elections and other more prominent news stories – but it shows an ever-increasing thirst to apply big data and artificial intelligence to lending. This is a trend that is fraught with risks and challenges.


Regulators across the globe are struggling to keep up and implement the necessary checks and balances. Politicians are engrossed in other matters to pay attention, but perhaps they should.


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Bank Applications get a Coronavirus Boost.



Fintech companies are increasingly applying for banking licences in a year where banks have had to set aside billions to cover the more toxic of loans. In the US, 10 companies filed applications in the fiscal year up to 30th September. The costs of opening a new bank have not changed for a while, and regulatory hurdles are as tough as ever, but that has not deterred several FinTechs’ from chasing the benefits of a banking charter in this post COVID world. Firms claim that such licences will help them to reach a wider range of clients as well as make their existing offering more inclusive and affordable.


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Thank you for the time!