News Update: Credit Card Trends, The Future of E-commerce and LLMs
Join us this week as our co-host Cormac O'Neill, Webio's CEO, and I explore the recent trends and updates in the credit industry. We kick off with a discussion on FICO's latest credit card market report, examining the upward trend in spending and missed payments. We share our experiences with credit card usage and ponder over the implications for companies and consumers. The spotlight then turns to Klarna, as we discuss its 26% increase in gross merchandise value in the UK and 14% increase across Europe.
We continue our discussion by analyzing the future of e-commerce and financial responsibility. We explore Amazon's significant impact on both the e-business and finance markets, and how we're positioning ourselves to assist consumers in finding and purchasing products.
We touch upon the Financial Conduct Authority's Duty of Care legislation, its implications for payment providers and embedded services, and what it means for the 'buy now pay later' industry. Finally, we ponder over the AI industry and its future implications.
Lastly, we explore the challenges that financial institutions and large banks face in keeping up with technology advancements. We examine the possible risks these institutions might need to take and discuss the transformative potential of moving from code-based systems.
We then shift our focus to the impact of AI and Large Language Models (LLMs) on Business Process Outsourcing (BPOs) and enterprises, discussing the potential disruptions, opportunities, and threats. We conclude by considering the importance of closed-loop LLMs for enterprise adoption and the role of AI and BPOs in reshaping the outsourcing industry. Join us for an engaging and insightful discussion.
Sources:
https://www.fico.com/en/newsroom/fico-uk-credit-card-market-report-may-2023
https://sytaylor.substack.com/p/fintech-food-from-outsourcing-to
https://substack.com/inbox/post/136482896
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