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A joint report from J.P Morgan and Oliver Wyman has predicted up to $100bn annually could be saved in transaction costs through a central bank digital currency (CBDC) network.
Financial services firms can secure over $700bn in additional annual revenue if they better serve women, a study from Oliver Wyman claims.
A majority of FinTech customers would happily use a traditional bank (66 per cent) or insurer (61 per cent) that offered similar services and pricing as a neobank or InsurTech rival, a study from Oliver Wyman claims.
Adopting RegTech and opening dialogue with regulators are both vital in helping the financial services industry achieve compliance according to Subas Roy, partner at Oliver Wyman.