FinTech Weekly - Fintech News Issue #362

Issue #362 - New Warnings From The Crypto Space

2022-05-05

FinTech Weekly explores the fintech space and gives you the most relevant info and news. This week’s top story makes it clear that hackers are always more creative, but fortunately financial technology news is not only about warnings. Fintech companies expand into new industries, new business models and tools are launched – like the B2B BNPL or the innovative tool realized by Vic.ai to allow companies to improve their profits. This and much more in this new number of FinTech Weekly: discover financial technology and the most important fintech conferences around the world.

Top Stories

Warning: Smartphone text prediction guesses crypto hodler’s seed phrase
Warning: Smartphone text prediction guesses crypto hodler’s seed phrase
via Cointelegraph

Hackers might have found a new way to attack crypto wallets. Andre, an IT professional, published a warning on Reddit after he discovered that the predictive typing of his mobile phone is able to record the whole seed phrase of his crypto wallet.

Top Events

Future Branches
Future Branches
via Worldwide Business Research

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.

FinTech World Forum 2022 conference
FinTech World Forum 2022 conference
via FinTech Conference

FINTECH WORLD FORUM 2022 #crypto http://fintechconferences.com #iot #ai #nfcLONDON. May 23-24. BOOK NOW! #fintech http://fintechconferences.com#regtech #insurtech #wealthtech #finance #PSD2 #openbanking #financialservices #altfin #bankingtech #digitalbanking #blockchain #fintechnews #ML

CXFS & NGCX Conference for CX Innovators
CXFS & NGCX Conference for CX Innovators
via WBR Global

Transforming Customer Experience - Since 2011, CX events have brought together thousands of senior level customer experience executives to discuss the latest in design, innovation, culture, and strategy.Two days of learning, networking and fun in Boston this summer!

Crypto

SEC to Add Staff as It Ramps Up Anti-Crypto Scam Efforts

Cryptos Regulation

SEC to Add Staff as It Ramps Up Anti-Crypto Scam Efforts
via CoinDesk

The Biden administration is working on a new regulatory framework for cryptos in the US, and as a part of this effort SEC is adding new staff members to fight crypto scams.

How Data Science Is Used in Cryptocurrency Predictions

Cryptos

How Data Science Is Used in Cryptocurrency Predictions
via Yahoo!

Crypto traders may have an advantage thanks to data science. From a large database, data scientists are creating models that help them to make predictions on market developments and price changes.

Banking

Banking giant Truist acquires fintech startup Long Game in effort to reach younger demographic

Banks Investments

Banking giant Truist acquires fintech startup Long Game in effort to reach younger demographic
via TechCrunch

The banking giant, Truist, finds it hard to appeal to the youngest generations of users. This is the reason behind its last acquisition: the financial institution acquired Long Game, a fintech startup involved in the gamefi space.

Innovation

Vic.ai debuts AI-powered tool to optimize costs for enterprises

AI Financial Instruments

Vic.ai debuts AI-powered tool to optimize costs for enterprises
via VentureBeat

Vic.ai, the fintech startup focused on providing enterprises with automate accounting and financial processes, launched a new tool for further cost optimization: Spend Intelligence, the new AI-based tool created by the company, will provide companies with insights and improve their existing financial processes.

Podcasts and Videos

News: Stripe steps back into crypto with Twitter and fintech for good Helios raises seed round

Cryptos Interviews Opinions

News: Stripe steps back into crypto with Twitter and fintech for good Helios raises seed round
via Fintech Insider

Benjamin Ensor and Gwera Kiwana are joined by Julia Ménayas (Helios) and Jason Mikula (Fintech Business Weekly) to discuss the latest fintech news – like the jump of Stripe into the crypto space.

Fintech

Say hello to Klarna’s little brother — B2B BNPL

New business models

Say hello to Klarna’s little brother — B2B BNPL
via Sifted

Klarna and similar companies have raised millions especially thanks to the new payment model – BNPL, Buy Now, Pay Later. But Klarna’s partner, Billie, introduced a new BNPL model – not for single users, but for businesses.

Fintech Study Estimates 4.4 Billion Global Users Will Adopt Mobile Wallets by 2024

Financial Instruments Opinions Predictions

Fintech Study Estimates 4.4 Billion Global Users Will Adopt Mobile Wallets by 2024
via Bitcoin.com

According to a Merchant Machine study, mobile wallets should have over 4 billion users by 2024. The pandemic contributed to the success of these wallets, for sure, but also enhanced security protocols and the popularity of smartphones are the reasons why mobile wallets become more and more popular.

Inclusive fintech is hard to do right, so Line has a different direction

New business models Opinions

Inclusive fintech is hard to do right, so Line has a different direction
via TechCrunch

Akshay Krishnaiah, founder of Line, points out that real inclusion could be hard, even for fintech. According to the CEO of the fintech company, this happens because many times, those who create fintech products don’t really know the difficulties faced by poor people. That’s why Line has a different approach.

Fintech sector’s overreliance on chatbots is a mistake

Banks Opinions

Fintech sector’s overreliance on chatbots is a mistake
via Finextra

As JP Morgan Chase reports, chatbots help them to save thousands of hours of work. But it’s also true that when it comes to financial decisions, people can find it hard to manage their accounts without human interaction and a human advisor.

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