Issue #395 - FinTech & Cryptos vs. Banks: What Do People Want? December 22nd, 2022

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2022 was a tough year for finance and the global economy. Of course, there are winners and losers, and most of them are extremely popular – showing that the cyclical ups and downs of markets can affect anyone. It was maybe the year that made people change their minds: crypto scandals and dramatic falls, as well as more trust in regulated institutions like banks, affected the fintech and crypto spaces. Will 2023 be an even more challenging year for financial technology? This and much more in this number of FinTech Weekly: discover the latest business trends and the most relevant fintech news and conferences!

Top Stories

    According to American Banker, 20% of users abandon opening a new account or a transaction because it was taking too long. Fintech firms address this kind of issue with solutions that focus on user experience. All solutions thought by fintech are for people and businesses, and were able to face all the different regulatory frameworks during the years - especially after 2008. Despite all the challenges and changes, 2023 can be still different for financial technology.

    A major challenge that fintech companies may face is the rising interest rate imposed by the Fed. While banks like Goldman Sachs and JP Morgan Chase are able to more easily face these kinds of challenges, since they're more experienced - especially when it comes to regulators, fintech companies might suffer the financial pressure and face further cost cuts over time.

Top Events

    As an annual signature event held in Hong Kong to promote collaboration in the Asia’s financial industry, the Asian Financial Forum (AFF) will return on 11-12 January 2023 at the Hong Kong Convention and Exhibition Centre with a digital extension. Themed “Accelerating Transformation: Impact ∙ Inclusion ∙ Innovation”, the Forum will map out a sustainable growth paradigm to build a resilient economic landscape that achieves positive impact and encourages inclusivity and innovation. Join us to embark on 2023 with knowledge exchange and networking opportunities. Grab your Standard Pass using discount code for readers of FinTech Weekly: P-AMP09D

Podcasts and Videos

Crypto

    Elon Musk is still making headlines for how he manages Twitter. A recent poll showed that most users don't want him to manage the company, and also his decision to ban certain accounts arised polemics. Vitalik Buterin, the co-founder of Ethereum, shared his opinions on some of the decisions of Musk. According to Buterin, such decisions put the social media platform on "the path to authoritarianism" - and Buterin is well known for his preference towards decentralization.

Banking

Innovation

Fintech