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Weekly Analysis And Opinion Highlights – 12 February 2024

Dive into the dynamic world of finance with our latest analysis highlights, exploring hot topics like delicate balance between innovation and stability in banking, correlation between Formula One sponsorships and business success, insights into digital asset compliance from Sygnum Bank and more.

FIS: How Banks Can Innovate While Staying ‘Boring’ (Fintech Magazine)

The latest in-depth by Fintech Magazine explores the delicate balance between innovation and traditional stability in the banking industry, as discussed by Andrew Bateman from FIS. The issue highlights the historical importance of trust in banking and examines how banks, while evolving and innovating, must not compromise on customer trust. The discussion covers the role of technology, data, and AI in driving innovation, emphasizing the need for banks to adapt to market challenges, including consolidation and liquidity risks. The article concludes by underlining the importance of banks investing in technology while retaining a human touch, with a focus on modernization to meet evolving customer expectations and ensure long-term stability. Read more

FI’s in F1: Does on track success lead to victory in the business world? (Fintech Global)

This curious article explores the connection between Formula One (F1) team sponsorships by FinTech companies and their on-track performance, examining historical examples. The recent controversial rebranding of Alpha Tauri to Visa Cash App RB Formula One Team is causing a stir, with a focus on the potential correlation between on-track success and business success. The analysis includes historical cases such as Moneytron, Mastercard, Darktrace, FTX, and Moneygram, evaluating how their F1 sponsorships impacted their business outcomes. The conclusion emphasizes that the success or failure in F1 does not always directly translate to success or failure in the business world for FinTech sponsors. Read more

Compliance around digital assets, exclusive interview with Sygnum Bank (The Paypers)

Dr. Firas Nadim Habach, CFA, Head of Compliance & MLRO at Sygnum Bank AG, discusses the intersection of compliance and digital assets. Sygnum is a global digital asset banking group based in Switzerland and Singapore, offering services in banking, asset management, tokenization, and B2B. Dr. Habach shares insights on institutional adoption of crypto and digital assets, challenges faced by banks in AML and compliance, the significance of the US SEC’s approval of a Bitcoin ETF, and the potential transformation of banking and finance in relation to AML and compliance. He will address these topics further as a speaker at the 17th NextGen Payments & RegTech Forum. Read more

How instant payments can empower the merchant payment experience (Payments Cards and Mobile)

In response to the increasing demand for instant and diverse payment methods in 2024, merchants are advised to invest in payment technology (paytech). Arnaud Crouzet (AC), Vice President of Fime Consulting, highlights the role of payment orchestration platforms (POPs) in integrating multiple Payment Service Providers (PSPs) and alternative payment methods, offering flexibility and optimization of transaction routing. Fintech partnerships and collaboration with traditional financial institutions are emphasized to stay updated on capabilities and ensure regulatory compliance. Merchants are encouraged to view payments strategically, taking a cross-functional approach and optimizing payment disbursement processes for enhanced efficiency and customer satisfaction. Read more

When goals become aspirations, where does that leave us? (Fintech Futures)

Theodora Lau, founder of Unconventional Ventures, discusses the challenges and importance of diversity, equity, and inclusion (DEI) in various industries, highlighting instances where companies are scaling back efforts due to legal concerns. She emphasizes the need for businesses to double down on DEI initiatives despite legal challenges and societal changes. The author argues that diversity is crucial for adapting to a changing ecosystem and that businesses can drive societal change, challenging excuses for a lack of diversity and encouraging companies to actively seek diverse talent. She emphasizes the importance of intention, hard work, and courage in achieving true diversity and inclusion. Theodora concludes with a stark quote from Ruth Bader Ginsburg: “When I’m sometimes asked when will there be enough [women on the Supreme Court] and I say, ‘When there are nine,’ people are shocked. But there’d been nine men, and nobody’s ever raised a question about that.”. Read more

How Mobile Technology can help the Fintech Industry (Fintech Magazine)

In this article, Bizclik discusses the role of mobile technology in the fintech industry and how it can help tackle new risks and drive strong growth. The global fintech market is expected to exceed $225 billion by 2027, and mobile network operators play a crucial role in this digital transformation. The potential for innovation through 5G, AI, cloud services, and new platform models is vast, and it cannot go ignored. It highlights the importance of choosing the right partners for fintech projects and mentions the Connected Industries in Hall 4 at MWC Barcelona 2024 as an opportunity to make informed decisions and build collaborations. The challenges in addressing fraud, especially in phone fraud, are also discussed, along with the progress in building trust in voice calls through identity authentication solutions. The article touches upon disruptive fintech solutions, the growth of insurtech, and the transformation of everyday payments with mobile wallet-based solutions. It concludes by encouraging mobile fintech players to attend the Summit at MWC Barcelona to meet the right people and forge partnerships in the evolving fintech space. Read more

A glimpse into tomorrow: ESG trends that will shape 2024 (Fintech Global)

In 2023, ESG trends entered a rollercoaster: the widespread adoption of AI technology in the ESG space and a drop in ESG investments due to macro-economic challenges. Regulatory changes, especially in Europe with CSRD and ESRS implementation, did not fully align with initial expectations. IntellectAI had a successful year, exceeding expectations with its ESG Edge product managing over $1.5 trillion in customer investments. Looking ahead to 2024, AI disruption and the commoditization of essential data are expected challenges, and interactive ESG intelligence is predicted to gain momentum. However, potential obstacles include a continued decline in ESG investments by organizations and a shift in investor focus from sustainability to returns during tough market conditions. Despite challenges, there is cautious optimism for 2024, anticipating technology transformation and proactive measures in the ESG space. Read more

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