An Interview with Philip Benton

Philip Benton

Senior Fintech Analyst at Omdia

Key Topics:Digital banking, open banking, payments and mobile wallets.

Location:UK

Bio:

Philip is a senior analyst in the financial services team at Omdia, a market-leading technology research and consulting firm. Philip specialises in digital banking and payment trends as well as a business strategy for the banking sector. Philip is a regular columnist for Fintech Futures where he looks at the “state of play” of different subsectors in the fintech industry as well as being a judge for the BankingTech and PayTech Awards. Prior to joining Omdia, Philip spent seven years at Euromonitor, a strategic FMCG market research firm, where he was the lead researcher for consumer behavioral trends in technology, commerce, and payments.

How did you get to become an expert in your key topics?

I started my career as a conference producer for capital markets, way back when the financial crisis was seen as the generation-defining event. It is was my role to curate a program, recruit speakers and understand the key challenges facing the financial services industry. The critical skill I obtained was to actively listen and quickly ascertain the high-level issues which is the first step towards becoming an expert yourself. I became an analyst in 2013, where I initially focused on consumer behavioral trends in payments and commerce before switching to technology and ultimately fintech as of 2020 when I joined Omdia.

What sub-topics are you most passionate about?

Digital wallets, A2A payments, open banking, neobanks.

Who influences you within these topics?

Simon Taylor (Fintech Brain Food) and Alex Johnson (Fintech Takes) are my favorite newsletters to keep up to speed with market trends as they do a great job at simplifying complex terms and concepts, which I try to apply when writing my own analysis.

What challenges are brands facing in this space?

Incumbents are struggling to keep pace with technology whilst the fintech start-ups driving technology innovation are struggling to make a profit hence the booming M&A market.

What do you think the future holds in this space?

Consolidation will continue to occur whether via M&A or strategic partnerships. In the payments world, card payments will continue to lose share to digital wallets whether that’s via A2A, open banking payments, or crypto (including CBDC). Contrary to popular opinion, cash will still exist.

What brands are leading the way in this space?

Grab are one of the first digital wallet examples which come to mind although I think PayPal is adapting quickly. Trustly is leading the A2A payment space. Visa and Mastercard are making a lot of moves in open banking.

If a brand wanted to work with you, which activities would you be most interested in collaborating on?

Podcasts, webinars, whitepapers, and speaking engagements.

What are your passions outside of work?

I’m a keen tennis player and runner, which I try to do as much as possible in between spending time with my young family and dog.

What would be the best way for a brand to contact you?

By Email

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