Weekly Analysis and Opinion Highlights – 18 July 2022

And we’re kicking off the week with new details on social impact, funding, regulations, ethical banking, big data and more. Dive into the latest fintech insights and have a great start of the week!

How Fintech Can Deliver on Its Social Impact Promises (HBR)
FinTech companies are seeing enormous investor interest on the back of promises of providing services to the financially underserved. The industry currently receives approximately one-quarter of all impact-oriented investments, more than any other industry. Yet, fintech companies and investors have little insight into whether the industry is actually living up to its grand promises. In this article, Harvard Business Review describes how fintech companies and investors approach impact today and the strategic opportunity to do more and provides concrete solutions for impact measurement and management. Read more

How Singapore survived the global fintech funding fall (Singapore Business Review)
Whilst most markets across the globe are seeing a fall in investment in their respective fintech sectors, Singapore has stood strong and was able to weather the current market condition. In an analysis, KPMG said Singapore even doubled its global market share by deal value to 6.4% in Q2 22 from 3.1% in FY2021. The local government and the Monetary Authority of Singapore have also set a “strategic path” that is aligned to the further drives of change across sustainable finance and digital assets. Read more

Payments innovation is stifled by a lack of regulation, writes Coadec’s Charlie Mercer (altfi)
Over the last 10 years, the volume of debit card payments has increased by over 200 per cent in the same time. Behind the scenes, the price of the “interchange fee” has also risen. For online payments made by UK cardholders to EU businesses, this fee has increased by 475 per cent for debit cards and 400 per cent for credit cards over the last six months. Why? It’s not due to increasing costs. Instead this “smacks of opportunism”, made possible by Brexit changing the UK’s legal status relative to the EU, enabling caps on fees to rise, combined with something not quite being right with the UK payments market. Read more

Is Ethical Banking Changing How the Whole Industry Operates? (The Fintech Times)
Sustainability isn’t a trend – it’s here to stay. Three in five consumers are more mindful of their impact on the environment since the pandemic and 85 per cent are willing to take personal action to combat environmental and sustainability challenges. With the demand for ethical banking and purpose-driven brands tempting the less value-driven companies to benefit from this trend, the article explores the question: is ethical banking changing how the whole industry operates? Read more

A Cashless Future: Can Big Data Change How We Pay? (PaymentsJournal)
With 70% of UK-based respondents now opting to pay with a card over cash, the evolution of online banking has continued to transform how we move money in 2022. From a spike in fintech adoption to a rising interest in cryptocurrency, money management has become a data-based affair. The question is, how is big data driving this gradual shift? Hingley predicts: “Big data will guide our buying decisions, restocking our shelves and giving answers to the financial questions we’ve had for the last decade.” Read more

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