Intellias 21 Sep 04

Weekly analysis & opinion highlights 18 September 2020

In a Forbes article, David G.W. Birch, author, advisor and commentator on digital financial services, emphasized the new technological advancements in AI which can have direct implications on the online personas of individuals. Counterintuitive cryptography can provide a solution for verifying online profiles, distinguishing between AI entities and real people. Read more

According to Natalie Marchant, writer for The Fintech Times, open banking can prove to be a solution for the data bias in financial services. Due to the fact that women have been financially excluded as traditional forms of credit rating, with systems prioritizing men. The impact of this is that females are less likely to be approved for mortgages and other retail credit, despite often having a near-identical FICO rating which lenders use to assess credit risk. Read more

According to Sean Leach, Partner and UK & European patent attorney at Mathys & Squire, the intellectual property (IP) in machine learning techniques contributes to fintech, by securing patent protection. Strategies for security that businesses can undertake are: ensuring that agreements with development partners are properly drafted and address the key IP issues; or identifying patentable inventions and choosing when to protect them. Read more

In 2019, over 142 Egyptian firms landed investment, making Egypt a center of interest when it comes to fintech growth. For example, Paymob raised a $3.5 million Series A in August following a $350,000 seed raise last year. Furthermore, in 2019, the Central Bank of Egypt established a fintech regulatory sandbox, as well as a $57 million Fintech Fund. Read more

In an analysis by The Paypers, Arik Shtilman, CEO of Rapyd, emphasizes why businesses will need to embrace a ‘cards plus’ payments strategy that includes local and alternative payment methods. In order to remain relevant in the competitive landscape, merchants are required to provide the best offerings for their customers and constantly find new sources of growth on a global scale. Furthermore, alternative payment methods (APMs) such as bank transfers or e-wallets are becoming more popular each day. Read more

The Unique Identification Authority of India (UIDAI) made an important but counter-intuitive decision that it would issue only numbers and not cards, referred to as the Aadhaar number. The initiative is being widely accepted by users, due the fact that Aadhaar is being used for various types of transactions and acts as a trusted third-party authenticator of identities in digital transactions. Read more

According to Isabel Woodford, writer at, a new wave of bank challengers is expected. Fundraising data emphasizes that over 250 neo-banks are in the process of launching their online apps. Compared to the first comers such as Revolut of Monzo, this coming generation a new consensus of creating ‘good products at low cost’ seems to be replacing the old chant of ‘growth at all costs.’ Read more

According to Forbes Finance Council Member Hanno Schoklitsch, a green wave is on the corner, with data intelligence being one of the tools that could help companies  follow sustainable business operations. The first step to undertake is to decarbonize their portfolios, which posits further challenges for the decision-makers. Read more

The European Union’s second Payment Services Directive (PSD2) was meant to eliminate banks’ monopolies on their customers’ data. That move to “open banking” had to spark a revolution in financial services. It would put smaller, innovative third-party providers (TPPs) of payment initiation and other services on equal footing with the banks, electronic money institutions (EMIs). Read more

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