In the past few years, customers have rapidly adopted digital technologies. This increased adoption has generated vast amounts of data across channels and platforms. However, it has also amplified risks associated with Financial Crime and Compliance (FCC) as well as Trust and Safety (T&S). Enterprises are now under immense pressure to establish a secure platform that effectively combats fraud and fosters trust with customers. Technological advances have provided fraudsters new avenues to deceive audiences and evade detection for personal gain. In response, companies are actively seeking external assistance, forming collaborations, and investing in the right technologies to combat fraud efficiently. In this report, we present a comprehensive overview of the fraudulent activities that erode trust and contribute to an increase in financial crime. We delve into various types of fraud, the platforms they occur on, and the current industry challenges. Furthermore, we propose viable solutions to overcome these challenges and offer a roadmap outlining the necessary steps for identifying enterprises’ requirements and selecting the most suitable provider, using the Assess, Identify, and Mitigate (AIM) framework. By analyzing the prevalent fraud landscape, understanding platforms where fraud occurs, and addressing current industry challenges, this report equips enterprises with knowledge and strategies to effectively combat fraud. The recommended solutions and the AIM framework provide a practical approach for organizations to assess their fraud prevention needs, identify appropriate solutions, and implement measures to mitigate associated risks. Ultimately, this report serves as a valuable resource for enterprises seeking to safeguard their platforms, combat fraud, and regain customer trust in the digital landscape. Scope Industry: Banking and Financial Services (BFS) and Trust and Safety (T&S) Geography: global Contents In this report, we: Describe prevalent frauds in the industry Present fraud prevention steps and tools Introduce the AIM framework to aid in mitigating fraud Membership(s) Banking and Financial Services Business Process Sourcing and Vendor Management

Web 3.0 is a next-generation exponential technology and the third generation of internet based on blockchain in which users can exchange money and information without relying on intermediaries (banks and institutions) and tech giants. It is also a critical building block to enhance various use cases of the metaverse, an immersive online world in which people use avatars to shop, work, socialize, and play. Leading enterprises are increasingly investing in Web 3.0 technologies and metaverse platforms. Many large banks see these as the next trillion-dollar investment opportunity. Additionally, customers are increasingly demanding revamped payments, sophisticated financial products, ease of access to credit, and smooth onboarding and advisory services. This report highlights recent investments that big market participants have made in BFSI, how technology and service providers and enterprises can differentiate themselves in the market, Web 3.0 and metaverse use cases that BFSI firms can explore, and regulatory and security challenges in Web 3.0 adoption. Scope Industry: BFSI Report coverage: technology and IT services Geographic scope: global Contents This report examines: Potential use cases of Web 3.0, metaverse, and decentralized finance in the BFSI industry Peer investment examples Security and regulatory challenges of Web 3.0 Adoption roadmap for enterprises and providers Membership(s) Banking Information Technology Insurance Information Technology Sourcing and Vendor Management

Digital assets are growing quickly, with modern technologies and products spurring the demand for new investment services. Investors are looking at FinTechs with interest as they explore untapped opportunities, including crypto custody, tokenization, and cross-border payments, in the digital assets market. In fact, financial institutions, governments, and regulators have also started to experiment with digital assets and are developing crypto capabilities within their own products and services. However, financial services firms need able partners to help them strategize as they tap into this exploding market. This report explores the benefits of a hybrid platform and a co-creation model to address industry challenges as financial institutions adopt digital assets at speed and scale. Scope Industry:banking and financial services Geography: global Contents This report examines: The business case for digital assets in financial services Digital assets of potential Opportunities for financial institutions The business case for co-creating technology platforms for digital assets Membership(s) Banking and Financial Services Information Technology Sourcing and Vendor Management

Digital assets have come a long way from their nascent form as cryptocurrencies to a complete array of financial assets with increasing use cases. In fact, the year 2020 and Q1 2021 experienced a surge in retail and institutional investments in cryptocurrencies and related crypto assets in the wake of pandemic-fostered digitalization in Banking and Financial Services (BFS). Several participants are already active in the growing crypto market. IT service providers are developing in-house solutions to help financial institutions use Blockchain-as-a-Service (BaaS) for their digital asset needs. FinTechs are at the forefront of innovating products and services but operate in an unregulated environment, posing high risks for investors. Larger investments have increased the safety, security, and accountability requirements to invest in these assets. Thus, there is an urgent need for regulatory bodies globally to bring in practical frameworks and regulations for digital asset trade at the earliest. In this report, we analyze the rise of retail and institutional investments in digital assets, including cryptocurrencies, other crypto assets, and crypto technology. We examine different crypto financial service offerings and their impact on the BFS market. We also recommend a transformation plan for traditional banking systems through a hybrid banking model, which seamlessly integrates value-added processes and operational functions for both traditional and digital assets. Scope Industry: BFS Geography: global Contents This report explores: Increasing retail and institutional investments in digital assets – cryptocurrencies, other crypto assets, and crypto technology Different crypto financial service offerings and their impact on the BFS market; we also describe the regulatory, operational, and technological challenges that BFS firms face in scaling up their digital asset servicing capabilities A transformation plan for traditional banking systems through a hybrid banking model, which seamlessly integrates value-added processes for traditional and digital assets Membership(s) Banking Information Technology Sourcing and Vendor Management