Who’s afraid of PSD2? In Europe, perhaps e-commerce payment service providers and banks should be. It stands for Revised Payment Services Directive and we think it could trigger disruptive and transformative changes to retail banking and retail payments in Europe, which we dive deeper into within our Full Report (for Autonomous clients) and as illustrated in this short video produced by the Autonomous Payments team.
Established in 2009, Autonomous Research is the leading independent research firm for the financials sector in Europe, US and China. Beyond our best-in-class investment research, Autonomous Fintech is a leading information provider focused on both emerging financial technologies and companies and their relevance to the existing financials sector ecosystem. Autonomous offers unique and unbiased perspectives on the future of “Fintech” by exploring the way in which technology will shape the global financials industry.
Driving is no fun anymore. The reality is that it is dead-time in our busy, urban lives; it is dangerous, dirty and expensive. Car ownership has stalled in the developed world with a new generation re-thinking its approach to ‘mobility’. Car makers continue to grow in emerging markets but in the developed world must rethink their offer (cleaner, connected, autonomous) and face new entrants.
Blockchain could simplify and speed up the financial system. Settlement could move from T+3 (or even T+30!) to T+0. Costs associated with paying a middle man and running a back office could be eliminated, and capital tied up by settlement risk could be reduced. We think blockchain could allow $16bn of cost savings and $6bn of capital release at the investment banks by 2021.
Technology is changing how people travel, shop, eat, and conduct financial services. A new generation of companies is attacking banks across lending and spending. Digital Lending has already taken off, but we expect it could double again before 2020, reaching $100bn in loan origination volumes combining the United States and Europe.