Group and voluntary benefits is an area of increased interest for many insurers, including some that operate in adjacent spaces like individual life insurance and group health. There is a promise of growth in this segment, even in light of the compressed margins on traditional group life/disability products.
Financial services companies are finally cashing in on cross-border payments. There is more innovation and change than ever in the global payment industry. In 2014, there were only 14 local real-time payment schemes. There are now more than 60, with 20 of those networks launching in the last 18 to 24 months amid advances in payment technologies, including messaging standards and cloud computing, and continued globalization of the payment industry.
Progress toward more frictionless payments has been mainly focused on domestic payments within countries. It is now time for the industry to widen the focus to include cross-border payments.
