1、INSTANT PAYMENTSA second revolution in digital finance?The last decade has seen rapid change in how people pay as part of a wider switch to digital banking but this is just the beginning.By the end of the 2020s,consumers will enjoy faster,safer and more convenient payments in what could be a second

2、digital finance revolution.This second revolution will see banking benefit from the same changes experienced in industries as diverse as media and healthcare all powered by ongoing explosive growth in processing power and superfast broadband around the world.“Competition in retail banking has contin

3、ued to intensify,while investors are impatient for more growth.”These changes come at the right time for retail banks,which have begun to see profitability rise in the last few years after a decade of stagnation following the Great Financial Crisis of 2007-2008.Despite recent improvements,investors

4、in retail banking are impatient for growth,and competition both for client business and investor dollars continues to intensify in the shape of digital-only neobanks,specialist fintechs such as Xe and Wise,and non-bank financial institutions(NBFIs)like Klarna and Afterpay.Meanwhile,retail and corpor

5、ate clients now expect the same levels of speed,convenience and security from their banking services that they find in streaming digital media,downloading books and films,or online shopping in general.Instant payments:the transformation beginsSo far,the digital revolution has seen the rise of intern

6、et and mobile banking,now used by more than two-thirds of Europeans1,as well as growing use of digital wallets,especially by under-45s.More powerful banking apps enable consumers to access a wider range of banking services via digital devices,from managing their cards to purchasing insurance,while b