In an interview with Fintech Review, FICO‘s Peter Lemon discusses the rapid digital transformation in finance for 2024. We delve into the anticipated progression of digital transformation in banking this year, as IT teams transition to becoming innovators and revenue generators. There is a shift towards enterprise-wide technology to improve agility and customer service. As well as the increasing application of AI in financial services for risk management and personalized experiences. And the expected growth and challenges of Open Banking. A lot is happening. Let’s dive in. To what extent do yo ..read more

Open Banking, a system that offers users access to their banking data via third-party applications, has been touted as the future of financial services. Since its inception, it has promised to increase transparency, enhance consumer choice, and promote competition in the banking sector. But how successful has it truly been since its implementation? Origins and Aims of Open Banking Photo by Ben Taylor on Pexels.com Open Banking emerged from a growing need to democratize financial data, placing it back in the hands of consumers. By allowing third-party developers to create applications and servi ..read more

By Chirag Shah, founder and CEO of Nucleus Commercial Finance and Pulse.io The fintech landscape has changed dramatically during the last five years, primarily due to the developments in artificial intelligence (AI) and machine learning (ML). The change has happened rapidly, revolutionising how financial services operate, including customer engagement and decision-making, across all regions of the financial sector – from front-end interactions to back-end processes. In the space of the last five years, the value of the AI used within Fintech has ballooned by a breathtaking £12.57 billion, and ..read more

In the dynamic world of business, understanding the worth of an enterprise is essential for a myriad of reasons, from fundraising and mergers to sales and internal reviews. For industries that are rapidly evolving, such as the fintech sector, determining this worth can be challenging. Company valuation, therefore, plays a pivotal role. Let’s dive deep into company valuation, using fintech startups as our primary example. Why is Company Valuation Important? Photo by John Guccione www.advergroup.com on Pexels.com Company valuation offers a snapshot of a company’s worth at a specific point in tim ..read more

In the ever-evolving world of fintech, where technology meets finance, the competition is fierce. New startups emerge daily, each promising revolutionary solutions. However, many of these businesses fade away, and one primary reason is their failure to achieve a pivotal business milestone: product-market fit. Let’s delve into why product-market fit is vital in fintech, ensuring startups not only survive but thrive in this dynamic industry. Customer Retention and Organic Growth Photo by Andrea Piacquadio on Pexels.com Many fintech startups experience a surge of initial interest, capturing atten ..read more

The fintech industry, a dynamic and rapidly evolving sector, is revolutionising the traditional financial landscape. With innovations like mobile banking, digital wallets, and blockchain technology at the forefront, fintech is leading a financial revolution. However, this rapid growth brings significant regulatory challenges, primarily in balancing the need for innovation with the imperative of consumer protection. Consumer protection is not just a regulatory requirement: it is a fundamental right that must be safeguarded amidst advancing technology. Regulators face the daunting task of ensuri ..read more

The financial sector is witnessing a paradigm shift with the ascent of the asset-light business model, a change spearheaded by fintech companies worldwide. This model, characterized by minimal physical assets and a heavy reliance on digital technology, offers fintech firms the agility and flexibility necessary to navigate today’s rapidly evolving economic landscape. As traditional banking institutions grapple with the overhead of their physical presence, asset-light fintech companies are redefining the rules of financial engagement. We will dissect the multifaceted implications of the asset-li ..read more

Shape Technologies is revolutionizing the payments industry with its cutting-edge payments-platform-as-a-service, designed to empower payment service providers globally. Fintech Review sat down with Jack Mangnall, Cofounder of Shape Technologies, a dynamic player in the fintech space. Jack, with his extensive experience in client-facing operations and strong focus on innovative fintech solutions, has played a pivotal role in identifying technology gaps in the payments sector and addressing them through Shape Technologies. We delve into Jack’s journey, his insights on significant trends in SaaS ..read more

The landscape of financial lending has undergone significant changes over the past few decades. At the forefront of this evolution is bank lending, a traditional pillar of financial support for individuals and businesses alike. As an integral part of the economy, bank lending has been scrutinized, with questions raised about its effectiveness and efficiency. Are banks good at lending? To answer this, we must delve into various aspects of bank lending practices, their adaptability in changing markets, and the satisfaction level of their clientele. Evaluating the Efficiency of Bank Lending Photo ..read more

In an era where digital transformation is not just a buzzword but a necessity, Lakeside Software emerges as a beacon of innovation in the IT landscape, particularly for financial institutions. Specializing in providing unprecedented visibility across complex IT environments, Lakeside Software stands out with its unique approach to uncovering hidden inefficiencies and optimizing operations. Their SysTrack platform exemplifies this by offering deep insights collected from thousands of endpoints, proving invaluable for proactive IT management. Fintech Review asked a few questions to Geoff Hi ..read more