Weekly Analysis And Opinion Highlights – 17 April 2023

And we’re kicking off the week with new analysis and opinions on fintech with banking, Artificial Intelligence,  ESG, crypto, and more. Dive into the latest fintech insights and have a great start to the week!

How to collect your outstanding debt in a few steps (Fintech Futures)
Outstanding debts are a major concern for any organisation which leads to bad debt that can have a detrimental impact on their balance sheet and kicks in complicated accounting activities. This article focuses mainly on the high-volume consumer financing within a banking and financial institutions. However, the guidelines are equally helpful in collecting your outstanding debt from delinquent or defaulting customer in any businesses. The most critical question remains as to why a collector is not able to collect on all or most of the outstanding debts. There are several reasons why someone is not able to collect the outstanding debt. This article will shed lights on the most critical yet important step which if taken in latter and spirit can help collect debts with ease and comfort. Read more

How fintech and SaaS are solving the climate challenge (Tech EU)
Climate tech funding in 2022 represented more than a quarter of every venture dollar invested in 2022 according to PwC’s State of Climate Tech 2022 report. This represents aggregate funds raised for climate tech since the start of 2018 of $260 billion, over which more than $52 billion has come in 2022. Climate fintech startups raised $3 billion in 2022, с. 3x vs 2021 according to data from CommerzVentures. This is just the beginning of the surge. PitchBook estimates the climate tech market will be near $1.4 trillion in five years, representing a сompound annual growth rate of 8.8%. Carbon tech (incl. B2B climate-related software and fintech) will be the fastest subsegment. Pitchbook expects the market to double in 5 next years and reach $21 billion. B2B software and fintech climate solutions will have a significant impact on sustainability. Companies need the tools and services to track their own carbon footprint and reward clients who reduce their CO2 emissions. Furthermore, B2B software and fintech climate solutions are indispensable for funding green energy projects. There are several sectors of software and fintech that, we believe, will provide the most interesting climate-related products. Read more

How was the first year of EU Taxonomy reporting? (Global Fintech)
As firms finish their first annual EU Taxonomy reporting procedures, Position Green taxonomy expert Tony Christensen has looked back on some of the pain points and lessons to be learned. The EU taxonomy creates a clear framework for more sustainable enterprise and greener investing to help the EU meet its carbon-neutral target. Its goal is to establish a list of environmentally sustainable economic activities. The framework has a phased-in approach, meaning firms only report on a portion of qualitative and quantitative information. Additionally, only two objectives were enforced for the first year, climate change mitigation and adaptation. Read more

How fintech start-ups are driving the ethical finance revolution (Fintech Futures)
The average UK consumer has a lot going on right now – with the cost-of-living crunch, rising inflation and eye-watering prices, focusing on the environmental, social and governance (ESG) activities of the companies they use to manage their finances may just be the last thing on their mind. But does being ‘ethical’ mean having to compromise? Some fintech start-ups don’t think so. Broadly speaking, ‘ethical finance’ refers to selecting firms or services that focus on doing good for the planet and society – in line with ESG investing and being “socially responsible”. With climate change on the rise, recent years have seen these terms gain more spotlight in news and discussions. Fintech start-ups have taken to the trend as well, with a number of ethical fintech start-ups cropping up across the globe. Read more

Mental Health and Financial Wellbeing Are Two Victims of Outdated Payroll Approaches Finds Caxton (The Fintech Times
Caxton, the payments solutions provider, has launched an industry report looking at the payment challenges faced by UK employees and payroll professionals. The research reveals the significant impact that outdated approaches to payroll are having on employee happiness. Not to mention the impact they’re having on business productivity and growth. The data is combined from both UK payroll professionals along with a comparative look at part-time and full-time employees. Caxton conducted two separate research studies. One survey was conducted amongst 2,020 consumers in full or part-time employment. One polled 260 finance professionals responsible for payroll – both in an in-house and bureau setting. The online surveys were conducted by Walr. The research fieldwork took place between February 27 – March 2, 2023. Seventy-six per cent of respondents responsible for payroll stated that they find the monthly payroll period to be stressful. A significant 41 per cent of their time at work is spent rectifying payroll issues. This is in lieu of doing their typical job. Furthermore, over a quarter (27 per cent) responded that they regularly communicate with their manager about the negative impact this has on their workload. Read more

Banks must maintain human connectivity as automation rises (Fintech Magazine)
Huw Newton-Hill, of training organisation Attensi, examines how banks can maintain a sense of human connectivity even as automation ramps up. Consumer needs within retail banking are evolving at pace, with McKinsey reporting that in 2022 almost every bank experienced a 50% increase in digital usage. Banks now have a window of opportunity to influence customer preferences, create a renewed culture of innovation and opportunity, increase customer loyalty, and strengthen human relationships. With 41% of consumers surveyed saying they wished banks provided more personalised offers and information, there is now an increased expectation for banks to immerse into the lifestyle of the consumer, creating an experience, not just a transaction. Read more

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