And we’re kicking off the week with new details on crypto, money transfer, fintech funding, payment process, debt crisis and more. Dive into the latest fintech insights and have a great start of the week!
Fintechs, don’t go to market alone: three must-haves for your FI partnership (Fintech Futures)
The last few years have seen an uptick in fintech and bank partnerships, as the former look to the latter to help ramp up their go-to-market strategy. Fintechs seek to leverage financial institutions’ regulatory advantages, liquidity, capital and technology to scale and grow. Yet, for all the pairings, why do so many FI and fintech partnerships crash and burn? Read more.
Here’s why the Netherlands is top for fintech careers (Silicon Canals)
With a population of just under 17.5 million people, the Netherlands is punching above its weight when it comes to Fintech – it is the eighth largest hub in the world, according to a new Global Fintech Talent Report for 2022. It’s not so surprising. The Netherlands is centrally located within Europe, it has a high take-up of English speakers (over 90% of the Dutch population speaks the language) and it has a good quality of living, excellent infrastructure and an educated workforce. Read more.
How AI and data fusion are turning the tide in the battle against modern slavery (Fintech Futures)
Organised crime that involves indentured labour remains big business, amassing an estimated $50-150 billion annually. And the problem is far closer to home than many realise. Despite Britain having banned slavery outright in 1833, as recently as 2020, the Centre for Social Justice estimated that there were 100,000 or more modern slaves in the UK alone. To profit from this exploitation of human rights, criminal gangs use various sophisticated psychological, financial and physical techniques to maintain control over their workforce. Read more.
Hard lessons from the crypto crash (Financial Times)
We deal with all kinds of financial problems on the Money Clinic podcast, but after speaking to young traders who lost their shirts in the $40bn wipeout of crypto token luna, I found it hard to offer them any solutions. Subbaiah, 29, got into crypto last year after seeing his friends make money. The IT worker in Bangalore watched tutorials by online influencers, started trading in and out of various coins and made enough to dream about quitting his day job and trading full-time. Read more.
Banks need to know their customers better than ever, but how do they do this? (Fintech Futures)
We live in an age of big data and instant information, with the potential for companies to know their customers and understand their exact needs in deeper detail than ever before. But as the amount of data continues to increase exponentially, picking through it and using it effectively can be incredibly difficult. Banks and other financial institutions need to meet this challenge head on. Digital transformation is an often-cited priority, with customer expectations sky-high in the aftermath of the pandemic. People are comfortable with their digital world and are now demanding from their banks the same level of service they receive from the likes of Amazon, Deliveroo and the other Big Techs. Read more.
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