Dear Subscriber,

In this issue of the PaymentEye e-newsletter Andrew Quartermain, VP Sales at ACI Worldwide, explores how consumer demand is now the primary driver of change in the retail payments industry, and how the preferences and experiences of millennials are informing that consumer demand.

And in other news, a new survey out this week reinforces the notion that millennials are at the forefront of payment services’ minds when envisioning the industry of the future. 300 of the leading banks in Europe were asked for their opinions on what banking will look like in a post-PSD2 world, and the results are fascinating.

We hope you enjoy the issue.

Andrew Quartermain, VP Sales at ACI Worldwide, explains that the growth of e-commerce and the rapid rise in the popularity of smartphones has played a big part in driving retail change, with today’s consumer now able to browse, compare, buy, receive and review products at their convenience, wherever they are. Highly connected consumers are demanding a more personalized and seamless shopping experience, wherever and however they choose to shop – and retailers have had to undertake a shift from paper to digital technologies to keep up with this demand.

A new report published by Earnix shows findings stating that most millennials will use a single portal to aggregate services from multiple banks with which they have existing customer relationships in the future. The report, The Role of Analytics in the New Banking Age 2017, also states that most banks believe predictive analytics and machine learning will become the most powerful way to win back customers over the next five years.