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!
Six African countries are among the world’s highest growth economies in 2024 (Semafor)
The World Bank projects strong economic growth in Niger, Senegal, and Rwanda in 2024, driven by factors like oil production and diversification efforts. Meanwhile, larger African economies like Nigeria, South Africa, and Angola are expected to lag due to various challenges. Overall, sub-Saharan Africa’s growth is forecasted at 5%, with concerns about conflicts and external shocks exacerbating food insecurity in the region. Read more
AI has a lot of terms. We’ve got a glossary for what you need to know (Quartz)
Quartz offers a comprehensive guide to core AI terminology, recognizing that public perceptions of artificial intelligence are often shaped by popular media representations such as “I, Robot” and “Ex Machina.” While these portrayals often depict dystopian scenarios where intelligent robots pose existential threats to humanity, the reality of generative AI technology is still in its nascent stages. Despite its potential to disrupt elections or leak sensitive information, chatbots and other AI applications frequently make significant errors. However, as the field continues to evolve, understanding key terms like “semiconductor” and the distinctions between GPU, CPU, and TPU becomes essential for navigating the complexities of this rapidly advancing sector. Quartz’s guide aims to demystify these concepts and provide clarity for those seeking to stay informed about the latest developments in AI. Read more
Instant Payments Regulation (Bird & Bird)
The EU’s Instant Payments Regulation (IPR) aims to facilitate instant credit transfers in euro across the European Union. It amends existing EU payments regulations to ensure availability of instant payments, introducing requirements for instant credit transfers, verification of payee, sanctions screening, and access to designated payment systems. Implementation deadlines vary for different categories of payment service providers (PSPs), with Eurozone-based PSPs required to comply earlier. The IPR represents a significant effort to modernize the European payments landscape, enhancing efficiency, accessibility, and regulatory compliance. Read more
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