As 2021 comes to a close, we wanted to take a moment and revisit BillGO’s most-read blogs from the past year. Interestingly enough, even though some of these were written in 2020, data confirmed they continued to gain traction throughout 2021. Trending topics included real-time payments, discussions around how consumers manage their bills, top fintech influencers and more. We invite you to read through this quick round-up.
In light of their popularity, we invite you to share this blog (or the blogs mentioned) with your favorite fintech or banking executive. Because the fintech payment space and digital banking are evolving so quickly, we can all benefit from quick reads revealing new findings and insights.
#1) 10 Must-Read Books on Fintech, Payments, and Digital Banking
COVID-19 shifted digital banking into high gear by persuading once-reluctant consumers to interact with their banks virtually. More than a year later, it’s a shift that looks like it’s here to stay.
As we originally wrote, the World Retail Banking Report 2020 determined there was a nearly-10 percent increase in consumers’ preference for internet banking since the start of the pandemic.Case in point: A study by Novantas that determined only 40 percent of respondents expected to return to bank branches post-pandemic.
Now more than ever, industry leaders need to reexamine and adapt their service offerings if they want to remain relevant. The information age is oversaturated with online resources and content; sometimes, an old-fashioned book is the best way to get in-depth coverage and the detailed analysis you’re looking for.
“10 Must-Read Books on Fintech, Payments, and Digital Banking” offers a short and sweet list of must-read books for every financial services leader concerned about keeping up with the evolution of digital banking, fintech and payments. And, with the holidays in full swing, these books make great gifts for the fintech fanatic in your life.
#2) 15 Payments Influencers to Watch on Social Media
With social media comes a never-ending stream of content and information. So much so that it can be difficult to find genuine subject matter experts (SMEs) and sources of truth. Even though this blog was first published in 2020, it rang true for BillGO readers in 2021. After all, who doesn’t love a good wrap-up? More importantly, who couldn’t benefit from a little assistance in keeping pace with the information tsunami that is social media?
Add these influencers to your daily scroll, see the list here.
#3) BillGO Insights: 1:1 with John Brady
Last summer, BillGO’s Chief Architect, John Brady, drew on his 20+ years as a banking executive and shared his insights regarding the evolution of real-time payments and the critical role bill pay plays in strengthening customer relationships.
“When I look at the U.S. financial services industry, I think real-time payments represent the single greatest catalyst for the next mass modernization,” Brady wrote.
Evidently, readers appreciated Brady’s insights and his ability to speak to the opportunities FI’s can leverage to gain a competitive advantage over those organizations that continue to use legacy technology rather than full embrace real-time payments.
“I think we’ll see a lot of rapid modernization across the board as banks position themselves for real-time capability,” he wrote. “We’re on the verge of this wide transformation, and we’re starting to see it take shape in bill pay.”
Read the full interview with John Brady here.
#4) How Americans Pay Their Bills
Americans pay more than 15 billion bills each year, totaling almost $5 trillion in value. Most of which are online payments made through biller websites. While all this online bill pay is good for billers and credit card companies, it’s not so good for consumers or their FIs.
How Americans Pay Their Bills offered readers a look at in-depth research BillGO pulled together in conjunction with Aite Group. The data provides details about consumer patterns and preferences in bill pay and how financial institutions can deliver on their customers’ needs and strengthen existing relationships.
“Consumers are now forced to struggle with a decentralized bill pay system that increasingly challenges them to keep track of their bills and expenses across multiple biller sites and payment cards rather than in one place – their bank’s website,” we wrote. “This negatively impacts consumers’ ability to achieve financial wellness, and it also reduces banks’ capacity to satisfy their customers’ needs and strengthen customer relationships.”
#5) Taming the Fintech Information Firehouse: E-newsletter, Podcasts and Social Influencers
Start the new year out strong by dedicating your organization’s resources to deliver what your customers want. Read our latest eBook, The Battle for Bill Pay and discover why consumers are migrating to platforms offering modern, consolidated, easy-to-navigate tools to help them better manage their financial lives.
The information age is a double-edged sword. On one side, nearly everything anyone could want to know is only a few clicks away; on the other side, you can quickly find yourself going down rabbit holes loaded with conflicting — and sometimes useless — information. This is especially true in the world of fintech, where innovation and technology are changing at the speed of light.
That’s why we assessed the fintech media ecosystem and rounded up the platforms that deliver some of the most pointed findings, such as “The Fintech Blueprint” newsletter from Lex Sokolin, the Breaking Banks podcast hosted by Brett King, Jason Henrichs, and J.P. Nicols and more.
Which e-newsletters and podcasts should you follow? You’ll find the list here.
What’s On Your List for 2022?
Start the new year out strong by dedicating your organization’s resources to deliver what your customers want. Read our latest eBook, The Battle for Bill Pay and discover why consumers are migrating to platforms offering modern, consolidated, easy-to-navigate tools to help them better manage their financial lives.
