Your Friday fix for global fintech and payments news
With the dawn of a new year comes a wave of new and intriguing trends, with possibilities emerging from around the world of payments. Our weekly round-up brings you a dose of some of the biggest news announcements, plus an insight into all that’s shaping our world this week.
- The 2020s will be a golden age for banks and technology
- Cash machines to offer basic banking services within five years
- Mastercard unveils music single featuring its sonic brand
According to Wells Fargo banking analyst Mike Mayo, the 2020s will be a ‘golden age’ for banks and technology. Predicting that the ‘20s will provide a ‘win-win’ backdrop, a decade on from the global financial crisis, Mayo defines tech as the enabler to take banks on a multi-year journey towards improving efficiency and delivering better returns with a lower risk.
As the face of banking continues to evolve, bank customers look set to benefit from new and enhanced services to be made available at ATMs. According to Matt Phillips of Diebold Nixdorf, Diebold is already in talks with banks about launching the new services, which will combine essential banking services with the convenience of the ATM. The range of services expected to be offered in this way include loan applications and customer service video chats.
Mastercard has announced the addition of a new layer to its identity – its ‘sonic brand’. The unique fusion of audio and digital content has been combined to create a new track, ‘Merry Go Round’. Chief marketing and communications officer at Mastercard, Jaja Rajamannar cites the company’s use of sound as the ‘next frontier’ for brand expression and a powerful way to reach consumers. The track, produced by Niclas Molinder, will be used in the company’s future marketing following the company’s recent removal of its name from the Mastercard logo.