fintech digest
Innovative Payments, Women in African Fintech, Campaign Against CBDCs & More
Research Team
28 July 2023
The ever evolving payments landscape
Economies are evolving, and the payments landscape is changing quickly. Everything from making doctors’ appointments to selling clothes to how you use your car is impacted. And that’s just the start.
Fintech firms voice frustration as regulatory approvals plunge to fresh lows
Regulatory approvals for fintech firms plunged to fresh lows in 2022, as the UK’s financial watchdog mounted a draconian crackdown on London’s fintech sector.
Africa needs more women in fintech
Over the last decade, fintech has driven a significant increase in financial inclusion, including of women, in Africa. But if the industry is to continue to expand and strengthen access to financial services and credit, it needs not only to serve women, but also to be shaped by them.
Privacy regulation and fintech lending
When designing privacy protection regulation, regulators face a challenging trade-off. On one hand, individuals are reluctant to share their personal data due to concerns about potential abuse or misuse. To protect consumers' privacy, regulators may consider limiting or even prohibiting the collection of personal data. On the other hand, data play a vital role for data-intensive firms like fintechs, which rely heavily on personal information to screen and price borrowers. Privacy regulation could thus potentially hinder the growth of fintechs and weaken competition in the financial sector.
Ron DeSantis promises to ban CBDCs if elected president
Current Florida Governor and GOP presidential hopeful Ron DeSantis continued his campaign against central bank digital currencies (CBDCs), vowing a ban if he were elected president. “Done, dead, not happening in this country,” said DeSantis at the Family Leadership Summit in Iowa last Friday. “If I am the president, on day one, we will nix central bank digital currency.”