The global banking & payments industry experienced a 52% drop in company filings mentions of robo-advice in Q2 2023 compared with the previous quarter, with the highest share accounted for by State Bank of India with 100% year-on-year increase, according to GlobalData’s analysis of over 52 banking & payments company filings. GlobalData’s Banking and Payments Predictions in 2023 – Thematic Intelligence report includes a detailed analysis of the impact of robo-advice and other key themes such as AI, conversational platforms, and cybersecurity on the banking and payments industry. Buy the report here.
Notably, robo-advice was one of the most frequently referenced themes in Q2 2023, ranking highest in terms of mentions, ahead of metaverse and mobile payments, according to GlobalData.
Of the top leading companies in the banking & payments industry, State Bank of India had the greatest increase in references for robo-advice in Q2 2023, compared with the previous quarter. GlobalData identified two robo-advice-related sentences in the company's filings - 0.1% of all sentences - and an increase of 100% in Q2 2023 compared with Q2 2022. Bank of Baroda’s mentions of robo-advice rose by 100% to 1.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for robo-advice in Q2 2023 was 96.
For further understanding of GlobalData's Banking and Payments Predictions in 2023 – Thematic Intelligence buy the report here.