And we’re kicking off the week with new details on money, fintech, cybersecurity, open banking, climate change and finance, cloud and more. Dive into the latest fintech insights and have a great start of the week!
What We Can Learn From The Sub-Saharan African FinTech Infrastructure (TFS)
Suren Ayriyan, analyst for TFS, highlights the fact that despite having been one of the least financially inclusive and one of the most costly regions to send money to, Sub-Saharan Africa (SSA) has become a global leader in money transfer services. This rise is mainly due to the different profitable African fintechs operating in the world’s ten fastest-growing economies and mobile payment services. Read more.
Starling CEO says open banking a flop: Other fintech chiefs beg to differ (Verdict)
Eric Johansson, writer at The Verdict, highlights on the backlash on Starling‘s CEO, after she branded open banking as a flop that’s too costly, “clunky” and said businesses struggle to make money from it. Anne Boden made the statement to MPs on the Treasury Committee during a hearing earlier this week, claiming insufficient demand and lacklustre services have turned the open banking rollout into a failure. “Open banking has not been a success,” the neobank boss said. Read more.
Aligning the finance industry with the Greta good (Fintech Futures)
Dave Wallace, writer at Fintech Futures, discusses impact of climate change on the finance industry. The good news is that the finance sector is already active and helping, with some emerging champions. Nevertheless, the world of finance will be judged on the $100 trillion climate challenge. Read more.
Another Cybersecurity Awareness Month Has Passed and Little Has Changed (SecurityWeek)
Torsten George, analyst at Security Week, discusses cybersecurity in business. Unfortunately, not much has changed since last year. Cyber breaches are bigger and worse than ever. Hardly a week goes by without headlines about some new devastating cyberattack. In fact, the Identity Theft Research Center reports the number of data breaches so far this year has already surpassed the total number in 2020 by 17 percent. Read more.
The fintech SPAC boom: could London be next? (Fintech Futures)
Arnon Shiboleth, Co-CEO, Prytek, explores that fact that the UK’s Financial Conduct Authority (FCA) is taking measures to help put the country on the map, following the huge surge in SPAC deals last year in the US. Last year was an extremely busy period for M&A deals and IPO listings, especially within the fintech space. During this time, there was a fresh wave of companies that decided to go public via a Special Purpose Acquisition Company, or SPAC as it is better known. Read more.
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