FinTech Weekly - Fintech News Issue #356

Issue #356 - Game of Banks

2022-03-23

In this number of FinTech Weekly you will find that the competition game between neobanks and traditional banks may change in the future: from The Wall Street Journal to Forbes, all major newspapers covered the topic and discussed the future of financial technology. FinTech Weekly covers this and much more, offering you not only the most relevant fintech news, but also fintech conferences around the world.

Top Stories

Banks Can Trump Fintech as Zero-Rate Era Ends
Banks Can Trump Fintech as Zero-Rate Era Ends
via The Wall Street Journal

Telis Demos raises a question: what will happen when zero interest rates will end? This is the actual advantage of many neobanks, but the competition between new banks and traditional banks may not be such an easy game in the future.

Top Events

34. FinTech & InsurTech Meetup Europe (ONLINE)
34. FinTech & InsurTech Meetup Europe (ONLINE)
via FinTech Meetup Europe

We host 3 talks by industry experts and a little discussion together with our speaker from europe and beyond.

Banking Transformation Africa 2022
Banking Transformation Africa 2022
via Banking Transformation Africa

In November 2022, we will build on our first annual Banking Transformation Africa (BTA), driving engagement on major and emerging issues across the African financial ecosystem. As the global banking industry undergoes a radical transformation, BTA 2022 summit will gather top banking CEOs and Executives to plot Africa’s banking industry’s route to digital transformation, differentiation.

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

Podcasts & Videos

News: SCA finally in effect, Lunar raises $77M and HSBC joins the metaverse
News: SCA finally in effect, Lunar raises $77M and HSBC joins the metaverse
via Fintech Insider

Gwera Kiwana and Sam Rai are joined by Roger De’Ath (Truelayer) and Jimmy Fong (SEON) to discuss the most relevant developments in financial technology: the partnership between Klarna and eBay, HSBC that buys land in the metaverse, Revolut’s support to Ukrainian refugees, and much more.

Crypto

OECD opens proposal on tax transparency framework for crypto to public comment
OECD opens proposal on tax transparency framework for crypto to public comment
via Cointelegraph

The OECD (Organisation for Economic Cooperation and Development) proposes a new tax framework for crypto holders: the organization said that cryptocurrencies put at risk tax transparency, and that the space needs additional safeguards.

Aussie fintech to offer mainstream direct access to DeFi with a fixed rate
Aussie fintech to offer mainstream direct access to DeFi with a fixed rate
via Cointelegraph

Block Earner, an Australian fintech company, allows investors to get fixed yields thanks to decentralized finance (DeFi) products. Jordan Momtazi, co-founder of the company, makes a comparison between their savings accounts and traditional saving accounts – making it clear that Block Earner offers higher returns.

FinTech

Why Build, rent what you need – PaaS, the New Normal in Payments
Why Build, rent what you need – PaaS, the New Normal in Payments
via Finextra

PaaS (Platform as a Service) providers are improving payment systems creating modern and easy-to-use platforms. Among the services offered by these providers are real-time payments, cloud native solutions, and fraud management systems.

Will Banks Overtake Fintechs As Interest Rates Rise? Don’t Bet On It
Will Banks Overtake Fintechs As Interest Rates Rise? Don’t Bet On It
via Forbes

Ron Shevlin shares his thoughts – and data – about the WSJ article, and uses some interesting topics to defend fintech and the future of fintech companies: the engagement factor, the experience factor, the portfolio and profit perspectives.

How AI is changing the world of finance
How AI is changing the world of finance
via VentureBeat

The financial sector is one of the many sectors that use artificial intelligence (AI) to maximize profits and improve services: fraud detection, accounting automation risk assessment are just some of the fields where AI is used.

Request to Pay: What is it and how close is the industry to adoption?
Request to Pay: What is it and how close is the industry to adoption?
via Finextra

Request to Pay looks like an easy and flexible solution to improve payment systems and transactions between payers and billers. Despite customers and merchants are favorable to this system, there are still few companies and banks that offer Request to Pay services.

Banking

China’s central bank encourages ‘controllable risks’ in fintech innovation in Alibaba’s home province of Zhejiang
China’s central bank encourages ‘controllable risks’ in fintech innovation in Alibaba’s home province of Zhejiang
via South China Morning Post

People’s Bank of China and Chinese financial regulators want to encourage “controllable risks” to improve financial technology in the region. The central banks would like banks to cooperate more with external institutions and increase the number of fintech services.

Innovation

Sign of the times: Klarna lets you pay for gas in installments
Sign of the times: Klarna lets you pay for gas in installments
via Fast Company

Gas prices are rising – it’s not something new. But the real news is that Klarna is allowing users to use BNPL schemes also to buy gasoline. This service will be available in the United States thanks to the partnership among Klarna, Chevron and Texaco.

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