Fintech is an ever-evolving space. Its resilience and flexibility allows it to continue thriving even when challenges become tougher. Regulators are becoming more severe when it comes to financial technology and digital assets, but emerging markets continue their path towards a thriving fintech-based economy. In the meantime, new competitors arise, and some fintech sectors start suffering from this strong competition. Another fact that shocks the fintech world is that Bitcoin is maybe leaving room to different digital assets that seem to gather the trust of people who want to protect their capitals during these times of economic uncertainty. Despite all this, blockchain technology constantly gives people, businesses and governments new ways to improve the global system – and FinTech Weekly added some content, at the end of this fintech newsletter, that will let you discover how businesses can benefit from this technology. This and much more in this number of FinTech Weekly – stay ahead of competition…for free.
After the decision of the SEC – a decision that wasn’t followed by any explanation – to charge Paxos for producing an “unregistered security”, the stablecoin space didn’t stop to offer people an alternative to protect their funds from inflation. The most surprising fact is that stablecoins are acting as Bitcoin should do.
What is your branch doing to exceed their expectations and meet the needs of other generations as well? Future Branches is two days of action-packed stories, conversations and connections with the top minds in retail banking. We will explore how leading financial institutions are revamping retail banking technology, retooling front line associates, and creating the branch and retail banking experience of the future. You’ll get actionable strategies to provide personalized high touch experiences for today’s customers. This is THE meeting place to benchmark against the best of the best in financial services.
CDAO Financial Services brings together your data & analytics community from the Financial Services industry for two days of learning, networking, and collaboration. New this year, there will be two specialized tracks for those who work for organizations with assets under management of below $500 million and assets under management $500 million and above. Join data & analytics leaders from TD, Morningstar, Barclays, Citi and more on March 1-2, 2023 in New York City. Free passes (subject to team approval) are available for a limited time.
Kate Moody and Benjamin Ensor discuss the more relevant fintech news with professionals – the digital bank Vexi case, the financial inequality that hits gig workers, the profitability of Bunq and much more.
All the discussions about cryptocurrencies and regulation were considered also during the G20 meeting. In particular, the US Treasury Secretary Janet Yellen highlighted the importance of the creation of a strong regulatory framework for digital assets.
Columbia became one of the first countries in the world to test legal experiments in the metaverse. Recently, a legal trial was hosted in the metaverse, and the court magistrate said that it was “more real than a video call”.
BaaS – Banking-as-a-Service – has benefited from the fintech investment boom, but it’s now facing some challenges: not only the increasing competition in the fintech space, but also regulators are constantly challenging the sector.
Regulators aren’t just acting directly against cryptocurrencies, but they’re also warning banks. If banks want to serve fintech and crypto customers, they need to focus on having a strong knowledge of the customer and the whole industry.
It’s no mystery that the UK wants to become a leading country in the fintech space. To further favour financial innovation, the UK is launching a new fintech hub: the CFIT – Centre for Finance, Innovation and Technology – will cooperate with professionals, students and regulators.
CRED, the Indian fintech company, is launching a BNPL – Buy Now, Pay Later – service. This will help the company to expand its services and offer more streamlined payment methods to its customers.
ChatGPT, the AI product created by OpenAI and backed by Microsoft, continues to make headlines, but there might be a strong competitor around the corner. According to Securities Times, China is launching its “Ernie Bot”.