Issue 360 · Apr 21, 2022 Weekly edition · 3 min read

Issue #360 - The World Needs Decentralization

FinTech Weekly shares with you the most relevant developments in the fintech space. As usual, financial technology works on achieving major results in terms of inclusion, and decentralization seems to be the best way to

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News: Nova Credit comes to the UK and Apple plots a payments war

Gwera Kiwana and Kate Moody are joined by Misha Esipov (Nova Credit), Polly Jean Harrison (The Fintech Times) and Duke Ekezie-Joseph (Kippa) to discuss fintech news, especially Nova’s expansion into Europe and Apple’s plans to conquer the payments market.

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In this issue · 9 items

How Bitcoin mining devastated this New York town MIT Technology Review — It’s not news that Bitcoin mining – as well as the mining process of other proof-of-work cryptocurrencies – need solutions to become more efficient and enviroment friendly: the MIT Technology Review shows what’s the price paid by communities. Open story ↗ Financial Inclusion in Banking Can Be Improved With AI Says Fintech Industry The Fintech Times — Financial inclusion is one of the main goals of fintech: compared to traditional financial instittions, fintech companies manage to be more efficient, to better use data and to offer their clients different communication channels. Open story ↗ Open Banking Fintech TrueLayer Introduces European Payments with Instant Deposits, Refunds, Withdrawals Crowdfund Insider — TrueLayer, an open banking platform, wants to expand its offer to address the main issues of traditional payment methods: no more long waiting times, uncertainty and risks, but a system based on open-banking that will allow instant operations and the reduction of costs – also for merchants. Open story ↗ A future without fraud: The latest advances in fintech that keep your money safe VentureBeat — According to Aite-Novarica Group, in 2020 at least 47% of Americans experienced some form of identity theft, and according to CNBC $5.8 was lost in 2021 due to frauds. Financial technology is developing new tools to avoid frauds in the future, to allow people to feel safe and prothect their money. Open story ↗ The world doesn’t need banks, policymakers or NGOs — It needs DeFi Cointelegraph — “The world needs DeFi due to corruption”. Cointelegraph shares this article to highlight some simple assumptions: financial instruments have high costs due to a system made up of too many middlemen, while DeFi allow poeple to control their finances while reducing costs. Open story ↗ More Fintech Consolidation Is Expected As Tech Brands Gather Finextra — It is expected a new wave of consolidation in the UK fintech industry: financing rounds show that investors are willing to invest more in fintech, and that new technologies – mainly based on artificial intelligence – will be exploited to support the growth of the whole fintech industry. Open story ↗ Open Banking and the Internet of Things: a Collaboration for the Future Readwrite — Internet of Things (IoT) is being massively adopted by fintech companies and financial institutoins: IoT allows for cost-optimization, better analysis and management of data and innovative tools and payment methods. Open story ↗ ‘Jack Dorsey’s First Tweet’ $2.9 Million NFT Gets $277 Bid At Auction Forbes — After the unsuccessful listing of the first tweet ever on OpenSea, Ron Shevlin shares thoughts and data on what’s happening to the NFT (non-fungible token) market. Open story ↗ IMF warns fintech firms are pushing banks into riskier mortgage lending. Could crypto be next? MarketWatch — Fintech firms in the mortgage market are allowing poeple – especially younger homebuyers – to get loans easier, but this might have downsides: the IMF analysis shows that while fintech companies offer more benefits compared to traditional financial institutions, regulators should keep an eye on their business models to avoid a new housing bubble. Open story ↗

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News: Nova Credit comes to the UK and Apple plots a payments war

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