Author

Dan Brightmore

Published

16 January 2026

Estimated Read time

5Mins

Ben Goldin, Founder and CEO of Plumery, explores the key banking trends for 2026 – from fraud and digital assets to stablecoins and AI applications

As we head into the second half of the decade, several emerging trends will come to the fore in 2026. The interconnectedness among these trends is also noteworthy. Artificial intelligence (AI) and progressive modernisation act as common threads.

A strong current throughout 2026 is the shift from customer-first banking to human-first banking. This relates to the concept of ethical banking. It focuses on creating financial services that have a positive social and environmental impact. 

Human-first banking aims to get even closer to the customer by understanding their actual human needs, rather than just consumer needs. For example, a bank should be acting as a coach to improve a customer’s financial health, not solely as an advisor on which products they should buy. Banks can build trust in a digital world through tailored and empathetic interactions, effectively simulating the experience customers formerly had with their personal banker.

To attain that level of hyper-personalisation, banks will need to be capable of processing vast amounts of transactional data, which can only be accomplished by deploying AI and big data tools. This requirement, in turn, will turbocharge progressive modernisation, another trend that has been bubbling under the surface for the past few years.

Traditional banks are using progressive modernisation to deal with legacy infrastructure that is not fit for purpose in a digital-first, AI-driven world. Instead of a big bang replacement of core banking systems, which is risky and can take years, banks are creating change from within existing architecture. Banking is leveraging technologies that support a multi-core strategy. With this approach, banks can add new cores for specific products that require greater agility and innovation. Modern cores are necessary for deploying the latest AI and big data tools because they provide a unified, real-time data foundation to deliver hyper-personalisation.

Fraud Threats

Fraud will remain a top concern throughout 2026. Adversaries use AI to expand the range of techniques, such as impersonation scams and identity theft, as well as accelerate and scale fraudulent activity.

According to the UK Finance Half Year Fraud Report 2025, £629.3 million was stolen by criminals in the first six months of this year, and there were 2.09 million confirmed cases across both authorised and unauthorised fraud. Card not present cases rose 22% to 1.65 million and accounted for 58% of all unauthorised fraud losses.

However, the good news is that there was a 21% increase in prevented card fraud in the first half of 2025. The £682 million which was stopped from being stolen is the highest-ever figure reported.

To combat fraud, new and improved tools to help banks identify, verify and onboard customers will come to market in 2026. The move away from paper-based identity (ID) and widespread adoption of digital ID will play a key role in the fight against fraud. Hence the UK government’s recently announced plans to roll out a new digital ID scheme.

In addition, I expect to see a fundamental shift in fraud detection using real-time behavioural analytics, data analytics for proactive risk identification, and other applications of AI and machine learning in this space.

Digital Assets and Stablecoins

Digital ID verification is also essential for fighting fraud in the digital assets and stablecoins space. Another hot topic at several banking and payments industry conferences last year.   

In 2026, digital assets and stablecoins will become much more mainstream. Banks have left the sidelines and are now actively engaged with running pilots. For example, in September a consortium of nine European banks, including CaixaBank, ING and UniCredit, announced an initiative to launch a euro-denominated stablecoin.

Central banks and regulators are developing a comprehensive agenda for digital assets. Banks will need to blend traditional fiat currencies and assets with their digital counterparts. This trend is also driving a progressive modernisation approach, as legacy core banking systems weren’t designed to manage digital assets, nor do they support moving money via blockchain-based rails. I expect to see more banks looking to deploy a multi-core strategy where digital assets are managed and stored elsewhere, but they can still provide a seamless and unified experience to customers.

AI

Last year, I predicted that the industry would adopt a ‘meet-in-the-middle’ approach to AI, with banks beginning to uncover the real value that the technology can deliver. I also predicted consolidation, recalibration and stabilisation in the market.

GenAI Banking Applications

My predictions held true, by and large. In 2025, institutions explored what is possible, relevant and achievable within the banking context, then specifically for each individual institution within its legacy architectures and technological environments.

This trend will evolve into more practical actions and initiatives over the next 12 months to provide greater clarity around where GenAI shines versus where it’s not applicable.

To gain clarity, it’s important to understand the difference between AI and GenAI. The latter is built on stochastic principles, which uses probability to model systems that appear to vary in a random manner. This means that the same input could potentially generate different outputs – this isn’t acceptable for automated financial operations, which requires much more determinism. Hence, I believe that GenAI will be used chiefly in scenarios where there’s human intervention.

One area where GenAI is applicable is in conversational applications. For example, banks will begin launching more interactive user interfaces. Customers will be able to interact with the bank as they would a human. Moving beyond simple, frequently asked questions to actual actions.

GenAI in the Back Office

Similarly in the back office, banks can leverage GenAI to provide guidance to their employees and accelerate certain tasks. Using the technology to improve efficiency and help staff do more will have a positive impact on customer experience. Processes will take much less time.

It will also help to bring unbanked segments or non-standard customers, which are difficult and costly to onboard because they require a bespoke assessment, into regulated financial services. Applying GenAI can make the bespoke process much more efficient by providing data-driven insights to support faster and smarter decision-making. This will make it much cheaper to serve these segments. Including smaller and medium-sized enterprises, which will drive financial inclusion and improve customers’ financial health.

Learn more at plumery.com

  • Artificial Intelligence in FinTech
  • Blockchain & Crypto
  • Cybersecurity in FinTech
  • Digital Strategy
  • Fintech & Insurtech
  • InsurTech

Author

Ben Francis

Published

9 January 2026

Estimated Read time

4Mins

Ben Francis, Insurance Lead at Risk Ledger, on navigating cyber threats by reinforcing security from the inside out

Cyber insurance has evolved from a straightforward risk transfer mechanism into an integral component of enterprise risk strategy. As a result, the conversation has shifted beyond simply securing coverage to embracing three foundational elements: transparency in risk exposure, accountability for security measures, and active collaboration throughout the digital ecosystem.

Rather than asking ‘are you covered?’, the more pertinent question has become ‘can you demonstrate measurable risk reduction?’. Insurers and insureds alike are recognising that what matters now is how well an organisation understands and manages its digital exposure, especially across its extended supply chain. Recent data reveals that 46% of organisations experienced at least two separate supply chain-related cyber incidents in the past year, a clear sign that exposure often lies beyond direct control. 

From Risk Transfer to Risk Visibility 

In recent years, the cyber insurance market has matured significantly. Once viewed as a reactive safety net to cushion the financial impact of attacks, it is now becoming a proactive tool for managing and mitigating risk. This shift is partly driven by insurers, who increasingly expect and work with organisations to demonstrate strong security practices and a nuanced understanding of their threat landscape, including risks deep within their digital supply chains; an area where many businesses still fall short.

At the same time, the industry faces a growing challenge from systemic cyber risk within their portfolios, as many businesses rely on the same cloud providers, payment systems and digital platforms, increasing the chance of a single point of failure. Insurers must gain visibility into how policyholders are connected, not only to suppliers but to each other. Tools and frameworks that map and monitor these interconnections will be essential to avoid underestimating the wider impact of seemingly isolated cyber events.

Mapping Beyond Third Parties

It is no secret that cyber attackers often target the weakest link in a supply chain. These are not always direct suppliers, but fourth, fifth or even sixth-tier vendors that have indirect but critical access to systems and data. Unfortunately, many organisations lack visibility beyond their first tier, creating blind spots that attackers can easily exploit. From an insurance perspective, this presents a clear challenge. If an organisation cannot account for who it is connected to, it cannot adequately quantify its risk and neither can its insurer. Mapping these extended connections is more than just a technical exercise; it means actively practiced risk governance and responsibility. Insurers increasingly want to know how their policyholders are identifying and managing indirect dependencies, particularly in sectors like financial services and retail where disruption can ripple across entire markets.

Collaboration as a Risk Strategy 

One of the more underappreciated aspects of cyber resilience is the role of peer collaboration. Unlike physical incidents, cyber threats rarely exist in isolation. A single compromised vendor can impact multiple organisations simultaneously, a fact that has been highlighted by high-profile supply chain attacks such as SolarWinds and MOVEit. 

As a result, businesses need to think beyond their own perimeters and adopt a more collective mindset. This includes building relationships with industry peers, sharing threat intelligence and participating in sector-wide initiatives aimed at improving visibility and preparedness. 

In highly regulated sectors, such as insurance, this collaboration is increasingly being encouraged by oversight bodies. Frameworks like the Digital Operational Resilience Act (DORA) in the EU and initiatives from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) in the UK are pushing for more transparency around third-party risk. In this context, openness is no longer optional; it will be a regulatory expectation. 

For insurance providers, greater collaboration between policyholders also means better data on emerging threats and more accurate portfolio management. For businesses, it offers a chance to anticipate vulnerabilities that may not yet have hit their own networks but are affecting others in their industry. 

Proactive Transparency Builds Trust 

Organisations that take a proactive, transparent approach to cyber risk management are more likely to secure cover and potentially favourable terms, not just in terms of premiums, but also in access to additional services such as forensic support, incident response sources and legal counsel. 

Demonstrating a mature cyber posture is not about claiming perfection. No organisation is immune to breaches. What insurers are looking for is evidence of a structured approach: the existence of incident response plans, robust governance, effective supply chain risk management, and above all, an honest view of risk. 

A Shift in Mindset 

Ultimately, our understanding of cyber insurance must keep evolving. It should not be treated as a simple checkbox exercise, but as a collaborative relationship between insurers and the organisations they support – one built on shared insight, clear communication, and a drive for continuous improvement.

The organisations best equipped to navigate today’s threats will be those that prioritise transparency. Not only does it lead to stronger protection, but it also builds a culture of accountability that reinforces security from the inside out.

Learn more at riskledger.com

  • Cybersecurity
  • Cybersecurity in FinTech
  • Digital Strategy
  • Fintech & Insurtech
  • InsurTech

Author

Andy Swift

Published

8 September 2025

Estimated Read time

4Mins

Andy Swift, Cyber Security Assurance Technical Director at Six Degrees on

According to AV-TEST, the independent IT security institute, every day sees at least 450,000 new malware variants added to its database. In June this year, for example, cybercriminals are thought to have used malware to steal over 16 billion login credentials across various major platforms in what is thought to have been the largest breach of its kind in history. For security teams, this represents a relentless challenge that demands constant attention and consumes significant resources.

Malware-Free Attacks

As if that wasn’t enough, malware-free attacks are increasingly favoured by cybercriminals as a way to circumvent organisational security. Typically using legitimate programs and tools, these stealth attacks are particularly complex to detect. And they are invisible to most automated security protection options that are available to buy.

With no obvious malware signatures to detect, automated defences are often powerless to respond. And without robust security foundations, even advanced detection tools offer limited protection once an attacker gains a foothold. When that happens, the consequences can be significant.

At the heart of the matter are the limitations of many traditional security tools, which are simply not designed to stop what they cannot see. Malware-free attacks do not rely on external payloads or binaries with known malicious signatures. This renders many automated detection systems, including standard antivirus solutions, effectively useless. As a result, the burden falls elsewhere.

For most organisations, that means having the right expertise in place to recognise unusual behaviour, supported by technologies that can identify behavioural anomalies quickly. Endpoint detection and response (EDR) platforms offer some of these capabilities. But even the most advanced solutions rely on proper configuration and human oversight to be effective. In an ideal world, every business would have round-the-clock monitoring in place, but in reality, very few do.

Challenging Assumptions Around Risk

So, how can organisations fill the gap? When assessing how to protect against malware-free attacks, many organisations begin with the assumption that they will need to buy new tools or licenses. This can form part of a rounded solution. However, leading with this mindset often overlooks a more fundamental and cost-effective question: What can be improved with the tools already in place?

Reviewing existing capabilities should be the first step. For example, most environments already have some level of EDR, behavioural monitoring or identity protection deployed. Yet these are often underutilised or misconfigured. This can result from a lack of understanding around tool capabilities (and limitations), paying for the wrong level of license coverage, and failing to ensure configurations support behavioural analysis rather than just malware scanning. In many cases, even minor adjustments can significantly increase effectiveness without any additional spend.

Cost vs Risk

Organisations should also reconsider how they approach the question of investment. The cost vs risk conversation needs to shift from what they should buy to what they should fix. Even the most expensive detection tools can be rendered ineffective if attackers can exploit basic oversights such as poor configuration, excessive access rights or the absence of multi-factor authentication. In contrast, identifying and addressing these gaps in existing systems is not only more cost-effective but also more impactful in stopping attacks before they gain momentum.

This kind of review process is also an opportunity to identify gaps and prioritise actions that reduce risk without escalating costs. For example, many organisations find that network segmentation, strict privilege controls and enforcing least-access policies can help prevent lateral movement and minimise credential misuse – two of the most common techniques used in malware-free attacks. Putting these capabilities in place are security fundamentals that often determine whether an attack is stopped early or is able to spread.

In this context, a best practice approach matters more than ever. Not as a one-off initiative, but as a continuous effort to close the windows of opportunity that attackers rely on. This includes reducing privilege levels, adopting MFA by default, limiting binary access and educating users on social engineering techniques. All of which are good examples of cost-effective steps that can limit the opportunity for malware-free attacks to take hold. These are not headline-grabbing technologies, but they remain the strongest defence against attacks that thrive on poor hygiene and overlooked gaps.

So, rather than investing in yet another layer of detection, organisations should focus on strengthening what they already have. This approach not only helps avoid unnecessary expense but also delivers a stronger, more sustainable defence posture in an environment where threat actors continue to be extremely effective.

  • Cybersecurity
  • Cybersecurity in FinTech
  • Infrastructure & Cloud

Author

Dan Brightmore

Published

5 June 2025

Estimated Read time

3Mins

The final day at Money20/20 Europe 2025 was packed with more insights on the future of FinTech, from banks to borderless innovation.

Money20/20 Conference Themes & Tracks

Money20/20 Europe 2025 is structured around four thematic content tracks:

  • Digital DNA – Exploring core infrastructure, platform strategies, and foundational technologies.
  • Embedded Intelligence – AI, machine learning, data strategies, and real-time analytics.
  • Beyond Fintech – Partnerships between fintechs and other sectors like retail, health, and climate.
  • Governance 2.0 – Regulation, digital identity, privacy, and ESG compliance.

Day three featured more impactful sessions across all four pillars, offering attendees more valuable insights and strategies for innovation.

Highlights from Key Sessions at Money20/20 Europe:

How to Create and Leverage FinBank Partnerships

The discussion focused on the evolution and success of FinTech partnerships with banks. Key points included the shift from transactional partnerships to more collaborative, value-driven relationships, emphasizing joint KPIs and product creation. 

Alex Johnson, Chief Payments Officer, Nium

“You really have to differentiate. You really have to stand out for a bank to say, ‘Yeah, I like what you offer enough to go through, six months of onboarding.’ Dare I say, maybe more.”

John Power, SVP, Head of JVs & AQaaS, Fiserv

“The legacy system, it’s a fact of life. They’re there. They’re pervasive. They’re going to be here for a long time, and banks historically have made huge investments in those platforms and systems. So I think both the challenge for the for the bank and the opportunity for the FinTech is, how do you at the front end of those legacy systems develop new products that can scale and that you can bring cross border easily and readily.”

Cecilia Tamez, Chief Strategy Officer, Dandelion Payments

 “It really is cutting the line to be able to deliver opportunity for customers and to be able to expand propositions for new customers.”

“The economic development supply chains shifting to low to middle income countries are incredibly important right now, and cross border payment rails have not been good in low middle income countries.”

Where Fintech goes Next: Tapping into Platforms and Verticals 

The discussion centred on the democratisation of financial services through embedded finance. The panel emphasised the importance of data quality, personalisation, and strategic partnerships in delivering seamless financial experiences – ultimately enhancing customer satisfaction and improving business efficiency.

Hiba Chamas, Growth Strategy Consultant – Independent

“Embedded finance is going to be defined by region and use cases.”

Amy Loh, Chief Marketing Officer – Pipe

“Small businesses don’t want to manage their business through a bunch of different tools that are stitched together. They’re looking to platforms to do everything for them and keep high end services.”

Zack Powers, VP Commercial & Operations – Mangopay

“Most platforms or merchants out there trying to diversify revenue, and they will get auxiliary revenue, or maybe get primary revenue through FinTech activity.”

The Neobanks Strike Back

​​In a dynamic exploration of neobanking’s evolution, Ali Niknam revealed bunq’s remarkable journey from a tech-driven startup to a sustainably profitable digital bank. By leveraging AI across every aspect of their operations, bunq has transformed traditional banking, reducing support times to mere seconds and creating a hyper-personalised user experience. Niknam emphasised the power of user-centricity, showing how innovative features like simple stock trading and multi-language support can democratise financial services.

The bank’s strategic approach – focusing on user needs rather than investor expectations – has enabled them to expand thoughtfully, with plans to enter the UK and US markets. By embracing technological change and maintaining a relentless commitment to solving real customer problems, bunq exemplifies the next generation of banking.

Ali Niknam, Founder & CEO, bunq


“Somewhere in the 70s, we let go of the gold standard, and now currencies are basically floating. The only reason why a dollar or a euro is worth what it’s worth is because of trust and perception. Philosophically, it’s very logical that we have found another abstraction layer by introducing stablecoin, which is not much else than a byte number that has a denomination currency as a backing asset that itself doesn’t have anything as a backing asset. A lot of people might ask, ‘Why would you need a stablecoin? We have euros. I go get a coffee, pay with Apple Pay or cash.’ But there are many countries on this planet where the local currency is not stable. If your country has an inflation rate of 30,000% like Zimbabwe, you would really love to use a different currency. The US dollar has been the currency of choice, but as a normal person, you cannot access the US dollar. A US dollar stablecoin that you can access by simply having a mobile phone – that’s going to be transformational for large groups of people.”

Innovating When Regulation Can’t Keep Up: Lessons from NASA 

Lisa Valencia covered an array of topics, from her 35 year career at NASA and Guinness World Record to the rise of private entities like SpaceX, which has launched 180 missions this year, and the increasing role of public-private partnerships in space exploration. The speaker also touched on international collaborations, particularly with the European Space Agency and the Italian Space Agency, and the potential for space tourism and colonization of the moon.

Lisa Valencia, Programme Manager/Electrical Engineer – Pioneering Space, LC (ex NASA)

“Back in the day, NASA got 4% of the national budget. Now it’s down to just 0.1%, so we’ve had to get creative with private partnerships. SpaceX is the perfect success story. They came to us in 2007 needing money after some rocket mishaps, and look at them now! From my balcony, I see their launches every other day. They’re planning 180 launches this year alone.Talk about a return on investment!” 

“We’re planning to colonise the South Pole on the moon. The idea is to extract water and hydrogen from the regolith—both for living there and for fuel.”

Scaling Internationally in 2025: Funding, Innovating, and Breaking into New Markets

The conversation focused on the growth and strategy of fintech companies, particularly those with a strong presence in Europe and the US. The panel featured Ingo Uytdehaage, CEO and co-founder of Adyen, and Alexandre Prot, CEO of Qonto. Both leaders expressed a preference for organic growth over acquisitions, emphasizing the importance of scaling efficiently before pursuing an IPO.

Ingo Uytdehaage, CEO and co-founder of Adyen

“I think an important part of scaling a company is not just thinking about your product, but also considering the markets you want to address, and how you ensure you become local in each country.”

“We realised over time that if we really want to bring the customers, we need to have the best licenses to operate. A banking license gives you a lot of flexibility.” 

“Being independent from other companies, other financial institutions, that gives you flexibility to build what your customers really want.”

“I think it’s very important, also in Europe, that we continue to be competitive. If you think about regulations and AI, we shouldn’t try to do things completely differently compared to the US.”

Alexandre Prot, CEO of Qonto

“We need to be very strict about tech integration and avoiding legacy which slows us down.”

“We still need to scale a lot before we have a successful IPO. A few team members are working on it and getting the company ready for it. But, the most important thing is just scaling efficiently in the business, and maybe an IPO would be welcome in a couple of years.”

Putting The F in Fintech

The panel discussion focused on the role of women in FinTech based on personal experiences.

Iana Dimitrova, CEO, OpenPayd

“At times, being underestimated is helpful, because if you’re seen as the competition, driving an agenda is becoming more difficult. So what I found, actually, over a period, is that bringing your emotional intelligence, leaving the ego outside of the outside of the room, and just focusing on execution is is incredibly helpful.” 

Megan Cooper, CEO & Founder, Caywood

“The moment we start defining ourselves as like a female leader or a female entrepreneur, you almost kind of put yourself in a bit of a box. And so I think just seeing yourself on an equal playing field and then operating it on an equal playing field and interacting in that way is quite advantageous.”

“We can’t just want diversity and hope it happens. We actually have to be intentional about creating it.”

Valerie Kontor, Founder, Black in Fintech

“Black women make up 1.6% over the FinTech workforce, but when we look at the financial reality of black women by the age of 60, only 53% of black women have enough money in their bank account to retire. We need to start marrying people in FinTech and the people that we need to serve.”

Money20/20 Europe 2025 closed its doors but the next edition of the conference will return to Amsterdam from June 2–4, 2026, promising to continue the tradition of shaping the future of financial services…

  • Artificial Intelligence in FinTech
  • Blockchain & Crypto
  • Cybersecurity in FinTech
  • Digital Payments
  • Embedded Finance
  • Host Perspectives
  • InsurTech
  • Neobanking