Fintech Analyst Report - Issue 301

Sarah Mason

13 September 2023

In this week’s newsletter, we explore modernisation efforts for financial services in Asia-Pacific, India’s future as a fintech hub in the region, and the state of China’s digital currency initiative. Meanwhile, generative AI in financial services is set to take off, while corporate banking IT spending presents a mixed picture across Europe. Lastly, the US and UK/European crypto markets seem to remain resilient, for now. 

IDC: Market opportunities for financial services in Asia-Pacific 
IDC takes a look at the opportunities for tech companies in financial services in APAC. Investments in infrastructure modernisation will quickly give way to more advanced digitalisation initiatives, such as cloud services, AI, big data and analytics.  

Kapronasia: India’s future as Asia fintech hub 
India has arguably become the most important fintech market in Asia. Fintech funding in India has grown from US$2.2 billion in 2018 to US$5.8 billion by 2022. But fintechs still remain small players in the country’s financial sector overall. 

Global Data: Generative AI in financial services 
Generative AI is set to have a massive impact on the financial sector – from enhancing trading techniques to more personalised client experiences and mitigating risks.  

Kapronasia: Can China’s digital currency fully interoperate with AliPay and WeChat 
China’s digital currency experiment e-CNY has been running for some years, but adoption remains modest. A key issue is the difficulty in making it interoperable with Alipay and WeChat Pay.  

Gartner: Enhancing and prioritising financial technology investments  
Technology for CFOs needs to provide agility and adaptation. Gartner examines the core ingredients for optimising and prioritising tech investments.  

Celent: European corporate banking IT strategy for 2023  
Corporate banking IT spending is on the rise, yet budget recovery varies across Europe. Some regions are experiencing robust growth, while others lag. Celent unveils the results of its recent Technology Insight and Strategy Survey, shedding light on tech priorities. 

Coalition Greenwich: Managers drive demand for data infrastructure in the digital assets space  
Recent research shows the resilience of the US and UK/European crypto markets despite US scrutiny. Asset managers and hedge funds are upbeat about growth and new investment opportunities.  

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