Security & Risk in Fintech & Financial Services 2022

• Tokenization of everything – Assets, Money, Cryptocurrencies
• Digital Identities & payments – phase one : Centralized identity, phase two: Federated Identity, Phase three: User-centric Identity, Phase Four : Self-sovereign Identity, from personal data controlled/owned and centrally stored by business to owned/controlled and de-centrally stored by User
• Increasing A2A Payments and open banking support – open finanance API network, Account Entry Push Notifications, Reservation of funds, Deferred and recurring payments, Request to Pay, Initiation of a consumer loan = BNPL, SEPA Direct DebitImproving conversion and UX
• Value Added Services around payments e.g. - BNPL will further grow, Credit card-based BNPL as fight back for banks, Digital Receipts will get more momentum, Next Generation Loyalty Offers - the age of data blindness & simple transaction-rewarding is over
• Improving the PSD2 SCA with better use of newer 3DS protocols (EMVCo 3DS 2.3) - eCOM Tokenization, Click To Pay, Delegated Authentication, split SDK and device binding
• Increasing Interest in Crypto Assets - Crypto trading apps as part of their digital offering
• Green & Sustainable Payments – Carbon free - For the Financial Services Industry, Green Payment is going from niche to mainstream through the following development drivers: technology, consumers, data and coming soon