The following is an excerpt from today’s Global Newsletter.
We are massive fans of David Birch here at Fintech Nexus.
His bleeding-edge insight pieces often elevate into the stratosphere of thought, eventually grounding in a nugget of truth universally applicable in real-world applications. Oh, and his resident cartoonist — Helen Homes — is often worth the price of admission.
This weekend, Birch painted a picture of man’s early attempts at powered flight and, more importantly, the recognition that — even though they were yet able to fly — they knew it was only a matter of time based on the ideological and technological breakthroughs happening at an exponential pace.
The connector for our audience is that we are at the same moment when it comes to open banking and AI. While we’re not sure how it will get up in the air and fly, we know it’s only a matter of time and likely very little.
We are at the very beginnings of AI and open banking, and together, we expect something positive to come from this innovation. It will change consumer financial services forever.
From Fintech Nexus
 USA Meet PitchIt 2023 winner, MomntBy Isabelle Castro Margaroli Embedded lending provider, Momnt, won Fintech Nexus’ 2023 PitchIt crown. Here’s what swayed the judges’ vote. |
Also making news
- USA: Bank failures’ ripple effects One of the irrefutable laws of physics is that for every reaction, there is an equal and opposite reaction. That same principle could easily be applied to the banking sector. Every time there is a blip, a crisis, or a string of failures, key stakeholders rush to analyze, pick apart, and determine what happened and why and how to contain the damage.
- Europe: Financial wellness fintech Elifinty launches UK startup Elifinty has launched its open banking-based “socially conscious” debt management platform for consumers and creditors.
- Europe: ECB finalizes digital Euro prototypes as development decision looms The central bank has examined the use of distributed ledger technology and smart contracts for its potential new digital currency.
- USA: Acquisitions driving shake-up in payments – and there’s more to come Companies in the sector have faced rising costs, reduced volume, and a tougher financial landscape – and acquisitions are playing a key role in their response.
- Global: Fintech unicorn Revolut needs a Plan B The company wants a UK banking license to move beyond payments and crypto. Regulators aren’t playing along.
- Global: Mambu and Mia-FinTech partner to accelerate digital finance solutions Mia-FinTech, the startup enabling banking and financial institutions to evolve towards open finance, has announced its partnership with the cloud banking platform Mambu.
