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.
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.
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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.
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.
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.
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.
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.
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.
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.
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.
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.