The Rise of Fintech Chatbots
With the growth of artificial intelligence in every area of online activity, chatbots have grown in sophistication to fill the role of customer service agents. Transparency Market Research predicts the global chatbot market will be worth $994.5m by the end of 2024 – a huge rise from only $113m in 2015.
Artificial Intelligence in India’s Fintech
With a growing number of FinTech startups, India is considered to be one of the top five global FinTech hubs. The country’s population of over 1.3 billion is highly under banked, with digital penetration growing rapidly. This, combined with the recent demonetization and push towards a cashless economy, make it an exciting space for global Fintech.
‘Selfie Pay’: Paying With Facial Recognition
Facial recognition is the latest fast growing technology that will be employed to verify payments on mobiles and in stores across the world in the near future. While fingerprint technology has grown as a method of payment on smartphones, it hasn’t caught on as widely as expected due to various drawbacks, which facial recognition technology hopes to resolve.
Solving Information Asymmetry Problem in Crowdfunding
Crowdfunding has seen rapid growth in recent years, with $2.5 Billion raised in equity crowdfunding globally during 2015. This amount is expected to grow further, as new regulations make it easier for entrepreneurs to raise money through crowdfunding. In theory, crowdfunding provides great benefits to both the seekers and providers of capital; allowing entrepreneurs to raise funds easily, and providing small investors with fresh avenues for investment.
Fintech Startups and Artificial Intelligence
Startups and established financial service firms are targeting these days to provide investors clearer guidance with information collected and captured from multiple sources. Artificial intelligence contributes to providing greater insights and thereby better customer experience by capturing vast amounts of data in real-time as well as helping users in understanding how different data points relate to each other. Financial services are leveraging data-driven technologies in order to overcome the breakdown in brand loyalty.
Big Data in the Space of Fintech
Fintech – a word which clearly indicates a combination of financial services and technology. It includes various financial fields such as retail banking, investments, and lending. Big data contributes to a major chunk of technology used. Data scientists and analysts have honed their skills which have improved analysis of data leading to increased consumer profits.
Abu Dhabi: MENA’s new FinTech Hub?
Established in 2013, with its official opening in 2015, the Abu Dhabi Global Market (ADGM) aims to support Abu Dhabi’s long term strategy to diversify its economy and establish the capital as an international financial centre. One year into its launch, ADGM was named the International Financial Centre of the Year (MENA) by the prominent Global Investor/ISF publication. An endorsement like this testifies the attractiveness of the Abu Dhabi region as a financial hub. However, we have yet to see whether the ADG will live up to its expectations.
P2P Sector in Malaysia
Peer-to-peer (P2P) platforms are becoming increasingly active in the US, UK, China, Australia, and many other countries across the world. China’s P2P market has shown the greatest growth with lending reaching a level of US$66.9 billion.
USAID’s Adoption of FinTech
With almost 40% of the adult population “un-banked”, financial inclusion still remains a significant challenge for global development. Governments, development agencies, and the private sector are all working hard to bring the “un-banked” within the formal financial sector, with FinTech, helping to accelerate the process. In this article, we will take a look at the actions taken and success achieved, by the United States Agency for International Development (USAID) in these efforts.
FinTech Financing: Europe & U.S.
FinTech is booming and the need for funding is increasing significantly. European FinTech companies face more challenges than their American counterparts in terms of financing. However, the market is growing fast and especially London starts to become more competitive.