Issue 405 · Mar 2, 2023 Weekly edition · 5 min read

Issue #405 - The King Has Been Replaced(?)

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Issue #405 - The King Has Been Replaced(?)

2023-03-02

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.

Top Events

Future Branches in Boston

via WBR Event

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

via CoriniumGlobal

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.

Podcasts and Videos

News: Revolut tops app downloads – but is Chase coming for the crown?

via Fintech Insiders

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.

Crypto

via Bitcoin.com

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.

Colombia’s legal system experiments in the metaverse: Report

via Cointelegraph

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”.

Banking

via Forbes

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 Warn Banks - Say No To Crypto FinTech Companies

via Forbes

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.

Innovation

via Financial Times

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.

Indian fintech CRED adds buy now, pay later and tap to pay offerings

via TechCrunch

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.

Fintech

Baidu to unveil ChatGPT AI rival Ernie Bot on March 16 - report

via Investing.com

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”.

Mena Fintech Association partners with Binance

via The Paypers

The growth of the fintech industry is led also by crypto and blockchain companies. The non-profit organization Mena Fintech Association is partnering with Binance to favour the growth of fintech in the region.

FinTech Weekly

How To Integrate Blockchain Into Your Business

via FinTech Weekly

Integrating blockchain technology with your business model needs careful planning, and this is a move that can allow your business to face competition over time.

Blockchain For FinTech Startups - Why It Matters

via FinTech Weekly

As businesses of any size can integrate blockchain technology, fintech startups can use DLT to stay ahead of competition, attract more investments, control their finances and better manage their businesses.

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