Tag: FinTech
UK finance sector severely vulnerable to cyberattacks, new report finds
The UK’s finance sector is struggling to keep cybercriminals at bay, new research by Keeper Security has revealed. The 2021 Cybersecurity Census Report found the average finance company in the UK suffered an average of 60 cyberattacks over the last year, with most (81%) IT leaders in the sector expecting this number to further increase over the next 12…
Tech Digest daily round up: 1 in 3 tech start-ups are British
Almost one in three of Europe's top technology companies since the turn of the century were founded in Britain, more than twice as many as France or Germany. Researchers at the consultancy McKinsey have calculated that 319 of the 1,000 most valuable tech start-ups created since 2000 were British. This compares to 149 for Germany, 143…
Over half of world’s population to access digital banking by 2026
A new Juniper Research study has found that 53% of the world’s population will access digital banking services in 2026; reaching over 4.2 billion digital banking users, up from 2.5 billion in 2021. The research identified increased digital transformation efforts as enabling banks to function effectively during the pandemic; justifying the benefits of digital banking…
Mobile wallet payments to account for 1 in 3 transactions by 2024
The global shift towards a cashless society has created a huge space for mobile wallets as a safer and more convenient way of managing money. According to data presented by TradingPlatforms.com, digital or mobile wallet payments were the most used point of sale payment method globally, with a 21.5% market share in 2020. By 2024, mobile…
Contactless payments to double, hit $1.6 trillion by 2024
The COVID-19 has given contactless payments technology the boost it needed for widespread global adoption, as consumers worldwide started avoiding cash in fear of spreading the virus. According to data presented by BuyShares.co.uk, contactless payments are expected to continue rising worldwide and hit a $665bn transaction value in 2021. The impressive growth is set to continue…
PayPal’s Plan To Create The World’s Next Super App
Globally-renowned online payment services platform PayPal is looking to capitalise on a fantastic year in 2020 by creating what they hope will become the banking world’s next “super app”. It’s no secret that PayPal had a breakthrough year over the past 12 months. Due to people working predominantly from home and spending a significant amount…
Which? exposes online banking safety issues
A new Which? investigation has uncovered worrying gaps in online banking security systems that could help criminals to scam customers. Which? conducted an investigation with independent security experts 6point6, scrutinising the online banking safety measures in place across the largest current account providers. The consumer watchdog's investigation found that some of the biggest banks, such…
Majority of Brits now prefer digital banking, claims survey
The majority of UK consumers want greater control and flexibility over their financial products and prefer digital banking, new research from Yobota has revealed. The London-based technology company commissioned an independent survey among 2,003 UK adults. It found that 58% of banking customers believe they should have more power to renegotiate or change their…
PayPal hits 3.7bn transactions, 346m active users in Q2 2020
Recent years have witnessed a surge in the adoption of digital payments worldwide, driven by the rising number of smart devices and the booming eCommerce market. As one of the first and most significant players in the digital payments landscape, PayPal has played a huge role in building a cashless society. According to data gathered…
5 Cybersecurity Threats to Financial Services
Banking and finance companies have access to sensitive data, such as financial records and personal information. These institutions, more than any others, should keep track of their systems’ activities. Should any hacker get access to the data, the consequences would be dire. One of the best ways to protect multimillion-dollar financial services from cyberattacks is…
