fintech digest
Customer Data Access and Fintech Entry, Inclusive Finance & More
23 February 2024
Customer data access and fintech entry: Early evidence from open banking
Open banking (OB) empowers bank customers to share transaction data with fintechs and other banks. 49 countries have adopted OB policies. Consumer trust in fintechs predicts OB policy adoption and adoption spurs investment in fintechs. UK microdata shows that OB enables: i) consumers to access both financial advice and credit; and ii) small and medium‑sized enterprises to establish new fintech lending relationships.
Transforming banking for inclusive finance
As the digital revolution unfolds, the banking industry plays a pivotal role in fostering economic development in emerging markets. However, persistent digital divides continue to hinder widespread access to essential financial services.
Tracing the adoption of digital technologies
In recent decades, expanding internet access has benefited economic development, particularly in emerging markets. At the same time, digital divides persist, excluding many people from the benefits of digitalisation. Factors like income inequality, market competition, quality improvements and affordability can influence the adoption of digital technologies. To narrow the digital divide, understanding the contribution of these factors to the adoption process is key.
Inside the rise of open banking
In recent months open banking has gained serious traction and customers are no longer hesitant to embrace it. With the long-term debate surrounding open banking seemingly settled, a handful of RegTech industry experts gave their views on the growth of the offering.
The Digital Dividend podcast: The Tilta episode
In this episode we are joined by Tilta's Founder and CEO Christoph Nicola. With the goal of enabling B2B marketplaces to provide their sellers the ability to offer extended repayment terms to their buyers via the seamless integration of Tilta in a single line of code, Tilta is a digital payment service provider and lender set to revolutionise B2B sales.
Bitcoin ETF trading spikes to busiest session since January debut
Bitcoin (BTC) exchange-traded funds posted the most trading since their debut in the U.S. last month. Volume amounted to nearly $2 billion, the highest total since the first day of trading on Jan. 11, Bloomberg Intelligence senior ETF analyst Eric Balchunas noted on X.