And we’re kicking off the week with new analysis and opinions on fintech with updates on the future of banking, generative AI, ransomware threats, and more. Dive into the latest fintech insights and have a great start to the week!
Why financial wellness could be key to employee retention (Fintech Nexus)
The Great Resignation affected businesses nationwide. In 2022, over 50 million workers quit their jobs in search of better conditions, and employers are now struggling to fill their places. According to the US Chamber of Commerce, even if every unemployed worker took a job, there would still be over four million vacancies. There are currently 76 workers for every 100 jobs that need to be filled. Financial services are the hardest hit, with only half of the available jobs filled, but other sectors face high rates of turnover. Read more
Navigating the new norms: Understanding SFDR, CSRD, and EU Taxonomy (Fintech Global)
Sustainable finance is becoming the linchpin for the EU in achieving its environmental and climate objectives. It achieves this by channeling funds into environmentally-conscious projects. Hand in hand with this, sustainability reporting plays a pivotal role, especially in promoting transparency in various sectors including environmental, social, economic, and governance. Greenomy, a developer of ESG and sustainability reporting software, recently explored the relationships between CSRD, EU Taxonomy and SFDR. Read more
Why KYC has an integral role in modern corporate strategy (Fintech Global)
In a recent whitepaper by RegTech firm Encompass Corporation, the company outlined what could be a smarter approach for KYC for businesses. Amidst mounting regulatory pressure, financial volatility, and rising risks of financial crime, corporations are facing formidable challenges. Pessimistic budgetary expectations loom large, especially when juxtaposed with wage inflation and stagnating compliance budgets. Firms, now more than ever, are being urged to be economical, tasked with accomplishing more with less. Read more
What you need to know about Corporate Sustainability Reporting Directive (CSRD) and ESRS (Fintech Global)
Companies worldwide are recognising the importance of accurate sustainability reporting, ensuring their data holds weight and is dependable. ESG pioneer Position Green recently unpacked the essentials surrounding the introduction of the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standard (ESRS). Read more
Mission Lane: Delivering next-level operations through AI (Fintech Magazine)
FinTech Magazine speaks to Head of Engineering and Technology at Mission Lane, Mike Lempner, about how AI is taking the company’s services forward. We speak to Mike Lempner, Head of Engineering and Technology at Mission Lane, to delve into ways the company is leveraging AI to streamline its operations, offer greater credit decisioning, underwriting, marketing and fraud solutions, as well as enhance its customer services. Read more
Ensuring availability of critical FS applications on cloud (Fintech Magazine)
We asked Todd Doane, Solutions Architect at SIOS Technology, for his thoughts on ensuring the availability of critical applications on the cloud. There has been an exodus towards cloud-based technology in recent years, which have brought advantages to financial services firms. But when something goes wrong, critical applications must be restored at all costs. We asked Todd Doane, Solutions Architect at SIOS Technology, for his thoughts on ensuring availability of critical applications on the cloud. Read more
Is all fintech just AI now? A look at FinovateFall 2023 in New York (AltFi)
When fall begins to ascend upon the Big Apple, the happy hours return and conference goers are back to swig hotel coffee and hand out company pop sockets at booths (masks are no longer the hot giveaway). After attending Finovate, I couldn’t help but notice that it seemed like every brand had magically rebranded to feature its artificial intelligence use prominently, in some cases even having AI in its name. Read more
Despite the ups and downs of the fintech space, people still really care about it (Tech Crunch)
Last week, our team was at TechCrunch Disrupt 2023, which featured a dedicated fintech stage for the first time (!) and dozens of Battlefield 200 companies in the fintech space. Christine even moderated a fintech pitch session! Mary Ann unfortunately couldn’t make it due to a family matter — and after spending months leading the programming for the fintech stage, she was truly heartbroken. Read more
Staying one step ahead: a multi-layered strategy to intercept scams and stopping complex fraud schemes (The Paypers)
Defining scams in a broad spectrum, the discussion has digital scams as its primary focus, touching upon key thematic elements within this realm. Two paramount trends are explored: the relentless growth of online scams and the professionalisation of the scam industry. Notably, the conversation highlights the emergence of artificial intelligence, particularly the rise of deepfakes, as a significant tool in the hands of scammers, emphasising the urgency for consumers’ protection in the face of rapidly advancing technology. Read more
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