Fintech News #369 - Green, Easy, Inexpensive: 3 Keywords For The Future

Issue #369 - Green, Easy, Inexpensive: 3 Keywords For The Future

2022-06-22

Financial uncertainty always leads to reactions. While regulators are still dealing with crypto scams and trying to find out how to protect people from a rising offer of financial products, businesses try to adapt to people’s requests. There are three main points that can be identified: people want green, easy-to-use and inexpensive products. Fintech firms are not only creating new solutions, but also helping institutions to adopt valuable measures. This and much more in this number of FinTech Weekly: stay on top of news and fintech conferences that can help you understand how businesses are evolving thanks to financial technology.

Top Stories

Chinese court invalidates 2019 car sale made using now worthless crypto token
Chinese court invalidates 2019 car sale made using now worthless crypto token
via CoinTelegraph

The Shanghai Fengxian Court has invalidated the sale of a car made in May 2019 using digital currencies. The crypto was UNIH (Unihash), labeled a scam after its launch – actually, the token is worthless.

Top Events

Fintech Islands Barbados 2022
Fintech Islands Barbados 2022
via FinTech Islands

The Fintech Islands Experience (FIX) will be an important catalyst for fintech innovation and transformation across the Caribbean. The three-day conference will focus on bringing global thought leadership, best practices and best-in class solutions to the Caribbean’s banking and financial industry, while introducing this largely untapped market to the fintech world.

Chief Data & Analytics Officers, Fall
Chief Data & Analytics Officers, Fall
via FinTech Weekly

Attend the premier conference for data & analytics leaders in North America – Chief Data & Analytics Officers, Fall on October 10-12, 2022 in Boston, MA. New this year is a personalized learning and networking track for data & analytics executives serving the Financial Services industry. Join your peers who understand your challenges and celebrate your successes when it comes to the nuanced intricacies of data & analytics. Qualified data & analytics folks can attend at no cost with a VIP pass.

Crypto

South Korea Blocks Terra’s Employees From Leaving The Country Amid Investigation

Cryptos Regulation

South Korea Blocks Terra’s Employees From Leaving The Country Amid Investigation
via Bitcoinist

The consequences of the Terra crash are not yet over. The Financial and Securities Crime investigation team issued an order that prohibits people involved in the crypto project from leaving South Korea.

El Salvador president addresses bear market concerns with Bitcoin hopium

Bitcoin Cryptos

El Salvador president addresses bear market concerns with Bitcoin hopium
via CoinTelegraph

The president of El Salvador, Nayib Bukele, shared with crypto investors his thoughts about the current market downturn. As the president wrote on Twitter, people should just “enjoy life” because downturns are absolutely normal, and Bitcoin will rise again.

Banking

Open Banking Reaches 6m UK Users

Banks Financial Instruments

Open Banking Reaches 6m UK Users
via Digit

The rise of open banking is evident and fast: OBIE – Open Banking Implementation Entity – found that this kind of service managed to get 1 million new users in less than 4 months – totaling 6 million users only in the UK.

Innovation

4most to develop 'green credit score' for SMEs

New business models

4most to develop 'green credit score' for SMEs
via Finextra

4most, the UK-based credit risk consultancy company, and Swishfund, a fintech lender firm, are developing the “Green credit score”: a score will be assigned to SMEs, and those that prove to be environmentally conscious will have access to cheaper financing.

Podcasts and Videos

News: Allica bank raises for SMEs and Backbase raises to transform the back end of banking

Banks Investments

News: Allica bank raises for SMEs and Backbase raises to transform the back end of banking
via Fintech Insider

Benjamin Ensor and Gwera Kiwana are joined by Soren Aabel Hammer (Mazepay), Keshvi Radia (Allica Bank), Tim Rutten (Backbase), Richard Davies (Allica Bank) and Jacob Groth (P27) to discuss the latest news in the fintech space.

Adapting to rapidly changing business models

Banks New business models

Adapting to rapidly changing business models
via Finextra

Tony Coleman, CTO of the fintech firm Tenemos, talks about how the company is helping banks to keep up with modern business models.

Fintech

Money management apps flourish as consumers face cost of living crisis

Financial Instruments

Money management apps flourish as consumers face cost of living crisis
via RTIH

Amidst financial uncertainty, people look for applications that can help them to manage their finances. App Radar found that over 5 million people started using money management apps in 2022.

The rise of API-first companies, in fintech and beyond

Investments New business models

The rise of API-first companies, in fintech and beyond
via TechCrunch

API companies are rising – and not only in the fintech industry. Being able to connect different services via easy-to-use interfaces, API-first companies manage to solve problems for businesses and people – and that’s why they’re getting the attention of investors.

Improving consumer credit: A deep dive into the FCA’s recommendations for Fintech

Regulation

Improving consumer credit: A deep dive into the FCA’s recommendations for Fintech
via Finextra

The Financial Conduct Authority shares some interesting recommendations for fintech firms. Their financial products are easily accessible, and there should be more regulation to guarantee users’ safety and favor the improvement of customers’ credit.

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