Our regular news roundup collects headlines in payments and fintech to watch, giving leaders across industries (and fintech enthusiasts) a quick glance at some of the news in the space. In Flywire’s 12+ years delivering the most complex, high value payments, we’ve had a unique opportunity to work with many different organizations in the fintech and payments ecosystem. We’ve seen changes in how clients get paid, how their customers want to pay and how central the payments experience is – not just across the industries we focus on, but every industry.
Here are some of the fintech and payments headlines from December, 2024.
Headlines:
U.S. business leaders are more optimistic than ever—but why? – bobsguide
Expectations for less regulation and more favourable tax policies are translating into higher profit expectations and revenue estimates according to the fourth-quarter AICPA & CIMA Economic Outlook Survey.
Gallup: (Only) 19% of Americans are satisfied with healthcare costs – Modern Healthcare
The vast majority of people in the U.S. are dissatisfied with the cost of healthcare, according to researchers. Meanwhile, the percentage of those who would rate the quality of U.S. healthcare as excellent or good has hit its lowest point in more than two decades. (Subscription required.)
Separating hype from reality in open banking – bobsguide
As open banking continues to gain traction, questions remain about its true potential impact. Advocates point to adoption milestones and new use cases; critics highlight regulatory hurdles and consumer trust concerns. At FinTech Connect 2024 in London, industry leaders tried to shed light on both sides.
Will 2025 Open the Floodgates for Open Banking (in the U.S.)? – PYMNTS.com
Only about 11% of U.S. consumers have used open banking payments but 82% of those people report being satisfied with those experiences.
Latin America May Offer Roadmap for Passkeys to Replace Passwords – PYMNTS.com
A confluence of factors may make passwords a widely embraced authentication method in countries and regions where digital banking and commerce are prevalent, where mobile devices are ubiquitous, and “connected economies” are firmly entrenched. Latin America checks all of those boxes.
A CBDC Could Be the Foundation of India’s Future Economy – PaymentsJournal
India has been at the forefront of adopting emerging payments, and recent comments from a central bank official suggest that a central bank digital currency could play a vital role in the country’s future economy.
Universities warn international students to return before Trump inauguration – Axios
There are roughly 1.1 million students from other countries studying in the U.S., according to NAFSA: Association of International Educators. Those students contribute $43.8B to the U.S. economy.
Flywire News:
9 buzzwords to remember from 2024
Like every year, 2024 introduced a whole lot of new words into our vocabulary. Here are some of the buzziest terms that may pop up in business conversation in the months to come.
International students in the U.S. face a complex array of challenges, from navigating fluctuating exchange rates and rising costs to grappling with cultural expectations and academic pressures. As interest in the U.S. as a study destination grows, universities and colleges must adapt to ensure these students thrive. Find out what insights speakers at Flywire Fusion had for attracting and retaining international students.
2024 Treasury Technology Analyst Report
This is a definitive guide for thoughtful financial stewardship in the digital age. Produced jointly by Strategic Treasurer and Flywire, the report provides clear guidance on the latest technologies for treasury professionals.
4 strategies to boost higher education affordability
83% of people between the ages of 12-26 surveyed by Gallup think that higher education is important. But according to Flywire-commissioned research, 80% of US students said they need help affording education expenses. This playbook includes strategies, advice and case studies that can help institutions move the needle on affordability.
The collaboration integrates GradGuard’s tuition insurance solution directly into Flywire’s payments and software platform to streamline processes for colleges and universities. Students and families will now be presented with information about institutional refund policies and given the voluntary option to purchase tuition insurance directly within the checkout experience.
Report of the Month:
B2B buyer dissatisfaction is on the rise – digitalcommerce360.com
Especially among younger (Millenial and Gen Z) buyers according to this new report from Forrester. Ease of doing business is cited as one of the top criteria for choosing a B2B seller.
Word of the Month:
President-elect Donald Trump recently threatened countries that are trying to move away from using the US dollar as a reserve currency. “De-dollarization” is about trying to reduce reliance on the dollar in cross-border trade and investments.
Stat of the Month:
18%
The proportion of Americans who say they have been refused health care that they thought would be covered by their insurers, according to the Kaiser Family Foundation. This article in the Economist (subscription required) suggests that those angry at insurers alone may be missing part of the story.
Conversation Starter:
Are adults forgetting how to read?
20% of adults in rich countries have math and reading skills no better than a primary-school pupil according to a new study by The Organisation for Economic Co-operation and Development (OECD), an intergovernmental organization that promotes economic growth.