This week’s roundup will feature titles on digital currency, investment in stocks and cash protection. Join us and Unlimit BaaS’ Managing Director, Jovi Overo in the exploration of some of the biggest headlines of our industry.
- Thales has released a Voice Payment Card for those who are visually impaired. Embracing latest technologies, users are able to install an app on the phone which is connected to their card and before making a payment at the vocalises the transaction total, which is confirmed by the account holder using a unique code. [source: Finextra]
This is great news in the promotion of diversity and inclusion to ensure payments work for all. Payment services have not typically been adapted for those with disabilities, but innovations and fintech solutions are bringing the bringing access and inclusion at numerous levels. – Jovi
- Challenger banks are seeing a rising number of fraudulent activities, and the number of fraud complaints has also reached a new high with neo banks for the first time in three years. Scams from authorised push payments (APP) have increased since end of 2021, with victims transferring money to fraudsters who impersonate businesses. [source: UKTN]
Unsurprisingly, as the number of customers are growing, the number of fraud cases are too. The onus inevitably falls on neobanks and challenger banks to protect consumers, because they have the knowledge to become better prepared for risks from the evolving tactics as fraudsters. – Jovi
- The UK and Singapore have renewed their financial partnership to cooperate in prioritising sustainable finance, FinTech and innovations. Both countries have signed a Memorandum of Understanding to create a FinTech bridge, to eliminate barriers between the two nations. [source: FinTech Futures]
The FinTech Bridge will provide a structured engagement that will aid the development of policy actions, enhance assessments of emerging issues, and support trade and investment flows between the two markets. – Jovi
See you next week, back in the blog for your next weekly news roundup.
