Category: Finance

The National Telecommunication and Information Security Board (NTISB) has warned the public about the surge in banking and financial fraud in Pakistan. The board has issued an advisory on how to avoid falling prey to such scams, which are mainly due to a lack of cybersecurity awareness at users’ end. Scammers Use Social Engineering and Malicious Apps to Steal Money According to the NTISB, scammers are equipped with the latest…

Lower margins and profits The economic outlook of China, the world’s second-largest economy, has been affected by the recent surge of COVID-19 cases, the regulatory crackdown on some sectors, and the ongoing trade tensions with the US. This has also impacted the performance of Chinese joint-stock banks (JSBs), which are commercial banks that are partly owned by the public. According to a report by CreditSights, a credit research firm, JSBs…

BlinkPay is a new fintech startup that aims to emulate the success of open banking in the UK with its innovative platform that connects consumers, businesses and banks in New Zealand. The company, which was founded in 2022, has recently launched its beta version and is looking for early adopters to test its features and provide feedback. What is Open Banking and Why is it Important? Open banking is a…

A New Partnership to Enhance Customer Experience Moneythor, a provider of data-driven engagement solutions for financial institutions, and Paymentology, a global issuer-processor, have announced their partnership to bring actionable and event-driven experiences to digital banking customers. The partnership leverages Paymentology’s “Framework for Authorisation and Settlement Transmission” (FAST) interface, which offers a rich, fast and deep data stream for Moneythor’s real-time data-driven recommendations, insights and nudges. The partnership aims to deliver…

A new report by ActionAid, an international non-governmental organization, reveals that major banks are pouring trillions of dollars into the expansion of fossil fuel and industrial agriculture industries in the global south, despite the urgent need to reduce greenhouse gas emissions and tackle the climate crisis. Banks Ignore Paris Agreement and Support Fossil Fuel Expansion The report, titled Banking on Climate Chaos 2021, analysed the loans and underwriting of 60…

Open banking is a concept that allows customers to share their financial data and access a range of services from different providers through APIs. It aims to foster innovation, competition, and customer choice in the financial sector. AI, on the other hand, is a technology that enables machines to perform tasks that normally require human intelligence, such as data analysis, decision making, and risk assessment. Together, open banking and AI…

The Financial Revolutionist (FR) is a leading source of fintech news and intelligence, covering topics such as crypto, gig economy, retirement, and more. The FR provides daily newsletters, weekly editions, and special reports for the fintech-forward audience. Here are some of the highlights from the FR’s recent publications. Crypto Solutions: Challenges and Opportunities The FR has been following the developments in the crypto space, especially the regulatory and legal aspects…

The insurance industry is undergoing a transformation with the emergence of insur-tech, which is the intersection of insurance and technology. Insur-Tech can offer more affordable, accessible, and customized insurance solutions for marginalized communities, especially Black and Brown families, who have historically faced barriers to obtaining adequate coverage. By leveraging the power of technology, insur-tech can help close the racial wealth gap and enable generational wealth transfer for Black and Brown…

The European fintech industry is poised for another year of growth and innovation, as new trends emerge and reshape the financial landscape. From cryptocurrencies and decentralized finance (DeFi) to embedded insurance and sustainable investing, here are some of the key sectors forecast to see notable traction in 2022. Cryptocurrencies and DeFi Break into the Mainstream Cryptocurrencies and DeFi have been gaining momentum in the past years, attracting both retail and…

Bond aims to boost competition among banks Belgium has launched a new bond for retail investors that offers a higher interest rate than most bank deposits. The bond, which has a one-year maturity, pays a rate of 3.3%, compared to the 2.8% rate on outstanding deposits of up to two years, according to Belgium’s central bank. The bond is aimed at pressuring banks to raise their deposit rates, which have…