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June 13, 2022

Filings buzz: tracking digitalization mentions in the payments sector

We've analysed companies' annual reports and other filings to see which key issues are receiving the most attention.

By Data Journalism Team

Mentions of digitalisation within the filings of companies in the payments sector were 295% higher between April 2021 and March 2022 than in 2016, according to the latest analysis of data from GlobalData.

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by GlobalData
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When companies in the payments sector publish annual and quarterly reports, ESG reports and other filings, GlobalData analyses the text and identifies individual sentences that relate to disruptive forces facing companies in the coming years. Digitalization is one of these topics - companies that excel and invest in these areas are thought to be better prepared for the future business landscape and better equipped to survive unforeseen challenges.

To assess whether digitalisation is featuring more in the summaries and strategies of companies in the payments sector, two measures were calculated. Firstly, we looked at the percentage of companies which have mentioned digitalisation at least once in filings during the past twelve months - this was 88% compared to 66% in 2016. Secondly, we calculated the percentage of total analysed sentences that referred to digitalisation.

Of the 10 biggest employers in the payments sector, SBI was the company which referred to digitalisation the most between April 2021 and March 2022. GlobalData identified 141 digitalisation-related sentences in the India-based company's filings - 2.2% of all sentences. BoA mentioned digitalisation the second most - the issue was referred to in 1.8% of sentences in the company's filings. Other top employers with high digitalisation mentions included Sberbank, ABC and CCBC.

Across all companies in the payments sector the filing published in the first quarter of 2022 which exhibited the greatest focus on digitalisation came from Santander. Of the document's 1,070 sentences, 64 (6%) referred to digitalisation.

This analysis provides an approximate indication of which companies are focusing on digitalisation and how important the issue is considered within the payments sector, but it also has limitations and should be interpreted carefully. For example, a company mentioning digitalisation more regularly is not necessarily proof that they are utilising new techniques or prioritising the issue, nor does it indicate whether the company's ventures into digitalisation have been successes or failures.

In the last quarter, companies in the payments sector based in Eastern Europe were most likely to mention digitalisation with 1.57% of sentences in company filings referring to the issue. In contrast, companies with their headquarters in the United States mentioned digitalisation in just 0.42% of sentences.

Free Whitepaper
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Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

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