The fintech industry is rapidly evolving and disrupting traditional financial systems. In this article, we bring you the latest research insights to help you stay ahead of the curve and understand the future of financial technology. Enjoy researching!
Subdued Growth, Multiple Challenges (World Bank)
According to the World Bank report, global economic growth is expected to slow down due to factors such as tight monetary policy, restrictive financial conditions, and weak global trade and investment. There are downside risks, including the possibility of an escalation in the Middle East conflict, financial stress, persistent inflation, trade fragmentation, and climate-related disasters. To address these challenges, global cooperation is essential for debt relief, trade integration, climate change mitigation, and addressing food insecurity. Emerging market and developing economies, especially commodity exporters, face challenges related to fiscal policy and volatility. It is crucial for all these economies to implement proper macroeconomic and structural policies and maintain well-functioning institutions to boost investment and improve long-term prospects. Read more
Is there a need for more regulation within ESG? (Fintech Global)
The importance of Environmental, Social, and Governance (ESG) in business is rising due to customer demands and evolving regulations. The lack of standardization in ESG rules poses challenges globally, as achieving alignment across existing ESG regulations is essential for clarity and impact. As such, efforts like the International Sustainability Standards Board (ISSB) aim to standardize ESG reporting. Increased regulation in ESG is expected, focusing on standardization, reporting, and integration into financial regulations. However, a risk of a tick-box approach and challenges for smaller companies may arise. Over the next five years, regulators are likely to prioritize disclosure and ESG data quality, with global coordination efforts. Industry-specific rules may create disharmony and trade disputes, so global collaboration is crucial for an efficient systemic change toward sustainability. Read more
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