Weekly Analysis And Opinion Highlights – 11 September 2023

And we’re kicking off the week with new analysis and opinions on fintech with updates on the future of banking, generative AI, blockchain, and more. Dive into the latest fintech insights and have a great start to the week!

How Bank-Fintech Partnerships Can Fill the Funding Gaps in Underserved Communities
(Fintech Nexus)

Current macroeconomic factors, especially a tightening credit market, have made operating a small business increasingly difficult for business owners across the U.S. Further complications including complex small business loan application processes and time-consuming origination timelines, continue to hamper the smallest of small businesses, shutting them out from the funding they desperately need. Read more

Data consent and Infrastructure could stop FI Hyper-personalization (Fintech Nexus)

In a survey conducted by Twilio, 62% of consumers said they expect personalization from brands, and a further 49% stated they would become repeat buyers if it was offered. As the facility becomes even more integral to online experiences, hyper-personalization becomes the next port of call. Building on the utilization of data and AI seen in the personalization of online services, hyper-personalization creates a real-time personalized experience for consumers. Read more

Navigating the digital seas: How to spot and evade phishing threats (Fintech Global)

Phishing is not merely a buzzword. It stands as a stark reminder of the multifaceted challenges that come with the digital age. To craft effective countermeasures, understanding the depth and nuances of this threat is paramount. Originating from the playful twist on the word “fishing”, phishing implies baiting potential victims in the hope of catching one unaware. This technique traces its roots back to the 1990s, targeting innocent AOL users with deceivingly simple messages. As the digital landscape evolved, so did the tactics of these attackers. Read more

What are some of the key regulatory concerns around AI adoption? (Fintech Global)

In a discussion as a part of the Professional RegTech Certificate, FCA former head of central data services Steven Green, Bank of England head of data collection transformation team Angus Moir and Vizor SupTech product director Joanne Horgan discussed AI regulation as well as a number of key topics in regulatory reporting and data management. For many companies, the spectre of AI regulation is providing companies with a flurry of new challenges to consider. What should they look out for? Read more

How criminals are advancing money laundering methods (Fintech Global)

Money laundering is not a novel concept; it is the age-old process of disguising illegally acquired money, making it appear to originate from genuine sources. In a recent crackdown in August 2023, the Singapore Police Force arrested 10 foreigners on charges of money laundering and forgery. A staggering $737m in assets, including luxury properties, opulent items, and gold bars, were seized or frozen. From this pot, 105 properties faced prohibition of disposal orders, with many situated in Singapore’s prime locales. Read more

The role of ESG data in improving access to finance for SMEs (Fintech Magazine)

We asked Reynir Atlason, Director of Sustainability at Creditinfo Group, how ESG data can help increase access to finance for smaller firms. ESG is top of mind for many businesses right now, but with an increase in so-called ‘greenwashing’, how exactly can businesses quantify their global impact. The secret sauce is ESG data, and it could help improve access to funding – particularly for SMEs. Read more

Crypto held back by stability and fraud fears – Coincover (Fintech Magazine)

The crypto industry is being held back by concerns about volatility and security, according to a new report into consumer sentiment from Coincover. Crypto is not reaching its full potential because consumers still have concerns about the systemic instability and criminality, including fraud and hacking, according to a new report published by Coincover. The report, entitled Securing the Future of Cryptocurrencies, surveyed over 16,000 people in nine different countries to gauge attitudes towards cryptocurrencies. Read more

What problems does the financial industry face and how are the new institutions trying to solve them? (The Paypers)

Blackcatcard is a European neobank. The project was launched in 2019 by Papaya LTD, a financial institution with an Electronic Money Institution (EMI) licence received in 2015. Blackcatcard now stands as an all-in-one online banking solution. As a neobank, we provide services to both individuals and corporate clients. Residents of European Economic Area (EEA) countries get access to all the products, including a prepaid and credit-grade card, while residents of other countries have access to an IBAN account and crypto services. Read more

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