Digital wallets are back on top of banks’ agendas. Mobey Forum has responded by launching a Digital Wallets Expert Group to analyse where wallets are now, and how banks can win the next battle in the wallet wars.
The wallet wars began when Apple and Google announced the launch of their wallets and customers preferred these over the ones provided by banks. The first round was lost.
Now, with developments in areas such as open banking, embedded finance, digital identity and digital payments (beyond the card rails), a new opportunity has emerged for banks to take back control of the wallet – or at least some parts of it.
In this podcast, the chairs of the Expert Group, Kristian Sørensen from Norfico & The Tokenizer, Marina Repo from Nordea and Cédric Sieber from PostFinance, discuss what the wallet landscape for banks currently looks like, what the next priorities for banks are, and how wallets are currently developing.