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Top 10 Trends in Retail Banking & Payments, 2014: Mining for Revenue

Top 10 Trends in Retail Banking & Payments, 2014: Mining for Revenue

Revenue generators include the mobile channel, data as assets, and technology evolution. 

By Julie Conroy, Retail Banking & Payments Team

Boston, January 14, 2014 – In like a lamb, out like a lion: 2013 began with positive indicators of global economic recovery and growth, but the recovery hit a number of snarls that eroded confidence along the way. Even so, there are a few bright spots for rapid growth and innovation. The mobile channel continues to be a playground for innovators, disruptors, and fraudsters alike. Merchants and financial institutions all seek to harness, monetize, and protect their assets. And evolution of technology at the point of sale will continue to represent both opportunity and threat to banks.

Aite Group reveals the top 10 trends that will shape the retail banking & payments industry in 2014:

  • Interchange battles take new casualties
  • Closed-loop wallets rule
  • The quest to monetize data takes shape
  • The quest to devalue data accelerates
  • Username/password rest in peace
  • Omnichannel becomes a reality
  • Banks harness big data
  • The software arms race hits merchant acquiring
  • Activity-based marketing picks up steam
  • Microfinance expands to mature markets

This Impact Note is 16 pages long. Clients of Aite Group's Retail Banking service can download this report.

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