Today In Data

Adjusting To The New Normal

EU

The only constant in the world is change: whether it’s the changing shape of the EU, the resetting of rules on how to pay or the great reshuffling of consumer preferences. The question isn’t will the world change; it’s how will the winners adapt?

The world is an ever-changing place — an observation that is not exactly news, though the tempo of late seems a bit brisker. The EU must soon reconcile with a U.K.-shaped hole, which may provide an opportunity for Ireland to consolidate gains as a financial hub. Direct disbursements are becoming more critical as workers and consumers are getting impatient waiting to be paid money they’re owed. Also getting impatient? People in line, who are eagerly anticipating the final death of the signature-based transaction. The pace is fast, the demands are high and the race will go to the swift.

The Facts: 

€4.2 trillion ($5.18T): Total value of Irish assets under management at the end of 2017.

7 million: The number of customers who have used Square P2P transfers as of December 2014.

81 percent: How much more common card-not-present fraud is when compared to point-of-sale (POS) fraud.

71 percent: The share of consumers who get annoyed at the POS if the person in front of them must sign for a transaction.

61 percent: The share of insurance firms that issue paper checks to pay claims to customers.

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