Val Srinivas

The Deloitte Center for Financial Services expects synthetic identity fraud to generate at least US$23 billion in losses by 2030,3 prompting many banks and fintechs to develop more advanced biometric security systems to weed out would-be perpetrators.

There are already many bullish predictions being circulated about the growth potential of embedded insurance. Forecasts for embedded sales of property and casualty (P&C) insurance alone by 2030 range from US$70 billion1 in the United States to US$700 billion globally.2 Deloitte predicts that if as much as 20% of the US personal auto market goes the embedded route by 2030, at least US$50 billion in premiums could be diverted away from the industry’s traditional distribution channels.

For a smooth B2B RTP flight: Considerations and ideas Banks should prepare to support direct integration of transaction data into clients' enterprise resource planning and other back-office systems to offer real-time or near-real-time insights on payments transactions and liquidity positions. But this can only become a reality when and if banks modernize their core systems for corporate payments. Cloud solutions can help accelerate banks’ access to RTP systems.