And we’re kicking off the week with new analysis and opinions on fintech with banking, Gamification, POS, Open Finance, and more. Dive into the latest fintech insights and have a great start to the week!
Big banks are stuck in limbo (AltFi)
It’s certainly a challenging time for banks’ customers. Many people are struggling with a period of financial hardship and are now looking to their banks for help. Of course, banks must rightly focus on offering day-to-day support for customers now. They must also continue to transform and move forward – for the good of all their stakeholders, customers included. Maintaining a long-term view while managing through short-term pain is a challenge for all banking Executives. Read more
Why gamification is fintech’s next big disruptive trend (Fintech Magazine)
As human beings, we love to play games. Whether it’s played on grass, a board or console – playing games is hardwired into us at a young age. Today, we are seeing the rising popularity of ‘gamification’ in the world of app and platform offerings. To boost user engagement and experience, business leaders are harnessing our love of games into their offerings. The fintech industry’s success has been built on its creativity and desire to push the boundaries of disruption. In light of previous trends such as, mobile banking, DeFi (Decentralised finance) and open banking to name a few – can we expect gamification to be fintech’s next biggest trend? Read more
The future of Point of Sale payments (Payments Cards & Mobile)
Point of Sale (POS) payments have come a long way since the introduction of the first credit card in the 1950s. Today, consumers have a plethora of payment options to choose from, including credit cards, debit cards, mobile payments and contactless payments. With the rise of e-commerce and in the context of the COVID-19 pandemic, the shift towards digital payments has accelerated further, making it more important than ever for businesses to stay ahead of the game. Read more
Key lessons for Open Finance solutions from payment schemes: exploring BaaS and Embedded Finance partnerships (The Paypers)
Since the introduction of the smartphone, payment service providers, in competition with each other, have continuously been investing in enhancing customer journeys and introducing new services. These are offered to consumers as seamlessly as possible. At the same time, traditional payment service providers (banks) started using more services from third-parties, such as payment institutions and technical service providers, including fintechs. Read more
N26 reportedly cuts 15% of Brazilian workforce (Fintech Futures)
Digital bank N26 has reportedly laid off 15% of its Brazilian workforce – around 20 people – according to local news outlet Estadao. The news comes after the challenger announced in May it plans to cut 71 jobs – around 4% of its total workforce – as it looks to “sharpen its focus on its most important strategic priorities” against the backdrop of “significant and long-lasting changes” to the global business landscape over the last year. Read more
Generative AI in IDV: the good, the bad, and the necessary (The Paypers)
Generative AI – a type of artificial intelligence technology through which content such as text, images, audio, and video can be produced via written prompts – has become a global sensation in just a matter of months. Even outside of the tech industry, you’d be hard-pressed to find someone who hasn’t heard of ChatGPT, DALL-E, MuseNet, or any of the other generative AI programs that have recently been released to the public at no cost (for now). Leaders in sectors ranging from academia to film and television have spoken about the consequences this technology could have in the hands of bad actors. Concerns about plagiarism, copyright infringement, and disinformation have all leapt to the forefront since the beginning of the year. Read more
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