Imagine yourself as a bank executive, competing against a global, multi-service, low-cost, digital bank; customers checking their accounts via smartphones, paying bills or transferring money with a swipe of finger. An AI-powered engine allows them to play around with their ETF portfolios with absolutely no fees, or cross-border payments. Take a moment to consider facing […]
FinTech
The COVID-19 pandemic has made us more inclined toward digital payments, shying away from the exchange of hard currency due to our newfound hygiene awareness; it is here that contactless payments have quickly become the new norm. In Europe, Germans are increasingly ditching cash for hygiene reasons, according to Initiative Deutsche Zahlungssysteme e.V, a payment […]
As the Covid-19 pandemic wreaked havoc on businesses, countries, and global economies alike, bringing projects, funding, conferences, and travel to a screeching halt, the tech industry prospered and skyrocketed upwards. Digitization filled the air with everything from education, grocery shopping to remote working from home. The financial services industry, although under extreme pressure to meet […]
The global computational arms race has augmented the technologies far and wide, bolstering their capabilities, and opening up a plethora of possibilities for companies across industries. FinTech is no exception to this, specifically when narrowing our focus toward artificial intelligence (AI). Global AI in the Fintech market was estimated at USD 6.67 billion in 2019 […]
As the world currently heads into the second wave of Covid-19 pandemic, many countries have begun instilling new restrictions and rules to curb the rising number of infections. This is considered a nightmare for countries like Indonesia, which heavily relies on small and medium enterprises (SMEs) to carry their economy forward. SMEs contribute a total […]
Almost a week from now, millions of online shoppers will flock to spend on the world’s biggest online shopping festival: Singles’ Day. According to a report by US-based consulting firm Bain & Company, online shoppers in China spent a whopping 410 billion yuan (US$60.4 billion) in 24 hours last year – double what Amazon generates […]
HONG KONG (AP) — Stella Su, who lives and works in Shanghai, has used an ATM only once in the past year. Instead of cash, in recent years she has done almost all her business using the digital wallet Alipay –- shopping in a mall, buying stuff online or transferring money to friends. “Now when […]
The world’s largest fintech company, China’s Ant Group, will try to raise nearly $35 billion in a massive public offering of stock that would shatter records. Alibaba-affiliated Ant Group, which operates a suite of financial products including the widely-used Alipay digital wallet in China and one of the world’s largest money market funds, will hold […]
Financial services have always been the nervous system of the global economy, a critical system that must always provide effective and equitable services for social cohesion and enhanced development. While advancements in the Fintech industry have grown tenfold, the legacy 20th century business models in finance have grown out-of-date, with many not even adapting to […]
We can all agree that this year has witnessed unprecedented levels of disruption across all industries and human activity all around, and the financial sector was at the top of them. Banks all over the globe closed their doors, at least temporarily, experiencing slowdowns and hiccups due to the rapid spread of the Covid-19 pandemic. […]