POSTED BY Dominique Tetnowski
In recent years, the most significant driving factor for a change in global consumer behaviour has been seen as a result of the COVID-19 pandemic. Contactless payments were heavily encouraged by most governments during the height of the pandemic, which was furthered by businesses that only accepted forms of cashless payments.
POSTED BY Elisha Sudlow-Poole
The mobile market has always been prone to digital disruption. However, this has become more pronounced in the last two decades, with fixed-line telephone services falling into widespread decline at the same time as new mobile voice services and superior connectivity modes (including 4G LTE and 5G) enter widespread usage.
Driven by brands such as Apple Pay and Google Pay, and supported by smartphone and mobile device penetration, digital wallets are becoming go-to payment methods; offering convenience, speed, and security over traditional cash and contactless as well as the ability to store identity documents and serve as a primary interface for cryptocurrencies.
Over the past few years, the concept of regtech has taken on much importance within the financial services ecosystem and beyond. During the COVID-19 pandemic, regulatory compliance has become more complicated and essential, meaning regtech is a highly dynamic and rapidly evolving area.