Global FinTech Insights

04 July 2019

We’ve partnered with Money20/20 to explore global trends and hot topics within the FinTech payments and financial services sector. 


During Money20/20 conferences, we’ve polled delegates to gather their insights into the evolution of payments and the tech industry within their region. With two of four surveys now completed, the three-day events saw thousands of industry experts and over 600 speakers coming together to share their insights on recent developments and expectations for the future.

  • Asia

    In our first of four surveys in partnership with Money20/20, our Asia attendees revealed that security and collaboration are a major focus for Asia’s FinTech, payments and financial services lead.

    Our research found that an emphasis on security was deemed essential for attendees, with the majority (55%) acknowledging that a focus on security is required to keep customers loyal and provide a great experience. Despite this recognition of the crucial role of security, most respondents (62%) believe that their company could do more to support their cyber security or need to invest further.

    Collaboration also scored very highly, as ‘partnerships with external organisations’ was selected as the most popular response when attendees were asked to identify the best way to increase productivity in their organisation. The benefits of collaborating were further underlined by the majority of respondents (52%) indicating that they believe the role of banks in payments innovation to be best served by partnering with FinTechs for mutual benefit.

    Turning to the region-specific insights, it’s clear that confidence in the potential for Asia to drive change in financial services is high, with almost half of the respondents (44%) predicting that the biggest rise in payment innovation in the next five years will be in China, with one in five (21%) selecting India.

    Perhaps unsurprisingly given the important role Asian companies have played in advancing its adoption in recent years, when asked which technology would most revolutionise the way they work, two in five (39%) selected Artificial Intelligence, followed by a quarter (26%) who opted for blockchain.

    The rapid evolution of the payments landscape was highlighted as very important, with frictionless payments deemed essential for promoting customer loyalty by over half (53%) of our respondents. Digital payments were also identified as the most important B2B payments innovation (32%), closely followed by connectivity (25%).

    The results from our polling showed that Asia is a leading region for innovation in FinTech and payments, with the advent of AI and other new technologies helping to drive the industry forwards. It was pleasing to see a focus on partnerships and collaboration identified by the leaders we spoke to, with both our survey and the panel sessions at Money20/20 highlighting the benefits of working together to help accelerate both innovation and problem solving for mutual benefit. Across Barclays, we’re committed to finding ways to harness the power of new technology and simplify payments, and look forward to exploring these themes further at the next Money20/20 event in Amsterdam in June.

    Phil Bowkley, Global Head, Financial Institutions Group, Barclays

  • Europe

    Following on from the success of our polling at Money20/20 Asia in Singapore, we continue our quest to uncover the priorities for individuals and companies at the cutting edge of payments and technology innovation in Europe. 

    European FinTech leaders seem to expect future innovation in the industry to be driven by collaboration, transformed by Artificial Intelligence, and altogether changed by Open Banking.

    AI transforms the future of payment innovation

    With all the interest surrounding Artificial Intelligence (AI), unsurprisingly this was the technology that is expected to have the greatest impact on how FinTech companies will work in the future (35%), followed by machine learning (16%), automation (15%), Blockchain (14), and biometrics (12%). 

    Europeans seem less convinced around the impact of Blockchain compared to their peers in Asia, as only 14% believed it would revolutionise their way of working compared to 26% of respondents in Asia.

    Customer loyalty

    Echoing the findings from our poll in Asia, security scored highly in Europe (46% citing it as key) when asked how they keep customers loyal and provide a great experience. Yet less encouragingly, despite this awareness, almost half of respondents (49%) revealed that they could be doing more to support and educate colleagues about cyber security.

    Furthermore, although attendees in both Europe and Asia agreed that customer loyalty is important, they each had a slightly different take on how to drive this forward. Europe believed that a more personalised offering would be key, whereas Asia suggested frictionless payments should be priority.

    Collaboration is key

    Partnerships was a key topic at Money20/20 Europe, with many believing it would be the significant driver of creativity, disruption and new forms of financial technology. More than two-thirds (69% of respondents) believed that collaborating with FinTechs would be a key role for banks in the future – a significant increase compared to Asia (41%). This was reinforced when it was revealed that 42% of respondents thought that financial technology would be consumed through partnerships with established players in the future, and that it would be the most popular way to increase productivity for businesses in both Europe (32%) and Asia (29%).

    Open Banking

    Many European respondents showed optimism on the potential of Open Banking to change the payments industry, with more than half (51%) believing it will impact their business in a big way, and just 3% claiming it won’t have any effect. Many also expect regulatory changes to support this, with 48% indicating that Open Banking will be the area most impacted by new regulation this year.

    Our survey results reinforce what we were hearing in conversations with our clients and peers at Money20/20 in Amsterdam – there is a huge appetite to collaborate and lots of excitement around the potential for new technology, such as AI, to improve the customer experience. Our dedicated FinTech team looks forward to helping clients scale-up and do more for their customers.

    Phil Bowkley, Global Head, Financial Institutions Group, Barclays

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