Issue 448 · Dec 27, 2023 Weekly edition · 3 min read

Tech's Toast to 2024

As we bid farewell to 2023, a year brimming with fintech innovations and challenges, FinTech Weekly extends warm greetings and looks towards 2024 with hopeful anticipation. The past year has been a remarkable journey

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Asian Financial Forum 2024

The 17th Asian Financial Forum returns in Hong Kong on 24 to 25, January 2024 to bring together global business communities, corporate leaders, policymakers and regulators for discussions and exchange of insights on the global economy from an Asian perspective. Early bird discounts are available until 30 November 2023 with the code S-AM14-ML (Standard Pass) | F- AM14-ML (Full Pass). Visit the official AFF website for more information and registration details: https://www.asianfinancialforum.com.

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In this issue · 4 items

Seven fintech predictions for 2024 Sifted — In 2024, the fintech landscape is poised for transformative changes, according to industry experts Kirk Donohoe and Maryam Velasque. Key trends include a broader application of AI in finance, a shift towards sustainable and digital payments, rising adoption of stablecoins, a move to SaaS revenue models, increased M&A activities, heightened regulatory focus post-Brexit, and stronger oversight on Decentralised Finance (DeFi). These developments highlight a fintech industry at a crucial juncture of innovation and regulation. Open story ↗ 10 AI Predictions For 2024 Forbes — In 2024, AI faces significant shifts: Nvidia may expand into cloud services, challenging rivals. Stability AI could shut down amid financial woes. The lexicon around AI models is expected to evolve with advancing technologies. Closed AI models are predicted to outperform open-source ones. Fortune 500 companies might introduce Chief AI Officer roles. New AI architectures like Mamba could gain traction. Regulatory scrutiny on AI investments is anticipated. The Microsoft/OpenAI relationship may face challenges. Crypto could regain focus from AI, and legal battles over AI and copyright are likely to escalate, potentially reaching the Supreme Court. Open story ↗ The Biggest Banking And Financial Services Trends For 2024 Forbes — In 2024, the banking and financial services sector will be transformed by key trends such as the adoption of generative AI for customer service, a focus on sustainable finance, increased attention to digital and cryptocurrencies, and advancements in customer experience technologies. AI will play a significant role in insurance, while open banking will empower consumers. Cybersecurity investments will escalate to combat growing threats, and both blockchain technology and Regtech will become increasingly important due to efficiency needs and complex regulations. These developments point to a more efficient, ethical, and customer-centric financial future. Open story ↗ Blockchain Tech Predictions for 2024, From Experts at Ripple, Coinbase, a16z, Starknet CoinDesk — In 2024, blockchain technology is set for groundbreaking developments. Key predictions include enhanced interoperability between different blockchain platforms, an increased focus on Bitcoin transaction fees, and advancements in modularity. Zero-knowledge proofs are expected to become more practical, while innovations in key management could revolutionize user interfaces. Censorship and security remain critical concerns, with strategies evolving to address these challenges. Corporate engagement in crypto is anticipated to grow, shifting towards product-based applications. Layer-2 chains on Ethereum may see increased activity and subsequent consolidation. These trends indicate a year of significant technological strides and evolving use cases in the blockchain sphere. Open story ↗

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