The more things change, the more things stay the same. This has been made abundantly clear in the banking and finance sectors, where the circumstances that have accelerated digital transformations, writes Featurespace Founder Dave Excell. Read his thoughts on the top trends to watch in the PYMNTS eBook, “Endemic Economics: 32 Payments Execs on the ‘Next Normal’ That Never Happened.”
The more things change, the more things stay the same. This has been made abundantly clear in the banking and finance sectors, where the circumstances that have accelerated digital transformations — COVID, wider consumer adoption of digital banking, QR codes making a comeback and the shift from buy to subscribe — will create new opportunities and reinforce familiar challenges
With that in mind, let me outline what I believe to be the top 9 trends to watch out for in 2022:
1. Fraud will force every single bank to fight for its reputation
Our own research has found that banks are preparing to compete over whose fraud prevention is best. Consumer perceptions of each bank’s trustworthiness are now on the line.
2. B2B payments will experience intense disruption
The 2010s laid the groundwork for a revolution in consumer payments. The online shopping habits that took off during the COVID-19 pandemic were only possible because companies like Square and Stripe had been putting card readers in the hands of small businesses for years. Now, the B2B payments space gets its turn at…
