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Weekly News Highlights - 5 August 2021
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Weekly Analysis And Opinion Highlights – 22 August 2022

And we’re kicking off the week with new analysis and opinion on fintech regulations, emerging fintech trends, regtech and more. Dive into the latest fintech insights and have a great start of the week!

Apple Strengthens its Commitment to its Finance Business (Fintech Switzerland)
Tech giant Apple is jumping deeper into financial services, moving away from its initial goal of providing finance solutions to retain customers and grow its core business of selling consumer electronics, to the broader aspiration of building a full-blown financial services offering and creating new revenue streams. In an in-depth opinion piece, Alex Johnson, director of fintech research at investment advisory firm Cornerstone Advisors, looks at Apple’s current portfolio of financial products and services, and recent finance moves to understand the firm’s larger ambitions and predict what might come next for the tech company. Read more

a16z’s fintech leads say ‘Silicon Valley is becoming unbundled’ (Tech Crunch)
Last month, Andreessen Horowitz — one of venture capital’s largest and most prominent players — announced that its “headquarters will be in the cloud” going forward. Founded in 2009 in Menlo Park, California, the firm — also known as a16z — has for years been a symbol of Silicon Valley investing. Its new philosophy in this post-COVID era of remote work is that there is no longer a need for a centralized HQ. This philosophy extends to its fintech team. The pair believes that the fact that more people are working globally spells huge opportunity for fintech companies. Read more

Why firms should care about the EU Digital Identity (FinTech Global)
The EU Digital Identity Wallet is an initiative under the European Commission and aims to create a unified digital identification system across Europe. KYC platform Electronic IDentification recently explained what the digital wallet is and why firms should care. It stated that this EU Digital Identity wallet would allow European citizens to safely store their documents and personal information in an app. These documents include identity documents, driving licences, medical records, bank cards and university degree titles. This app would then be usable across all EU member states. It added that the ID wallet would allow citizens to enrol in a European university, apply for a scholarship, buy medicine and complete many other tasks. Read more

How Fintech Is Driving Financial Access for the Next Generation (The Fintech Times
As crucial as it is to meet the needs of today’s customers, fintechs are also beginning to analyse how they can best serve the next generation of fintech users. With support from the likes of Visa and Nymcard, live transactions are now being made in the UAE through the Edfundo Visa prepaid card; an initiative aimed at promoting financial education among children and young users. The Fintech Times discuss how fintechs are championing solutions that adhere to the interests and needs of a younger audience. Read more

Fintech is re-calibrating: here’s what founders need to know (Fintech Magazine
John Clark of Royal Park Partners says the current economic situation calls for fintechs to adapt – but if they do, they will emerge stronger than before. Over the past two years, fintech operators across the globe have done a terrific job of bringing technology to many areas of the financial services market. Innovation across digital banking, mortgage origination, SME and SMB offerings has accelerated, with fintechs often taking on more risk than traditional financial services institutions to gain market share. It is easy to overlook the progress made in this short space of time against the backdrop of gloomy media headlines. But as interest rates rise to combat inflation, uncertainty surrounds the future of the fintech market. So, what do current macroeconomic conditions mean for fintech founders? Read more

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