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Is it convenience or value for money? Nice article to read about e-wallets in the Middle East. #isapwallet #isapexchange www.iSAP.Wallet www.wallet.iSAP.Exchange iSAP Exchange FZCO Exchange FZCO

A fundamental reform of the international monetary system has long been overdue. Its necessity and urgency are further highlighted today by the imminent threat to the once mighty U.S. dollar." Robert Triffin November 1960

Next-gen CFOs need next-gen tools to power their organizations ???? Here's the AI-first CFO tech stack: - For FP&A, use Datarails or Pigment. - For Billing & AR, use Chargebee or Orb. - For Spend Management, use Ramp or Payhawk. - For Bookkeeping & Tax, use Anrok or Pilot. - For Banking, use Brex or Mercury. - For Payroll, use Gusto or Deel. The role of the CFO is constantly evolving. The next-gen CFO aka Wave 3.0 is the one that: 1) can utilize data in increasingly complex ways? 2) holds a deeply commercial mindset 3) has developed a “CXO” (chief everything else officer) level of contribution And this is where artificial intelligence becomes indispensable. AI-first CFOs are the future. P.S. check out ??linas.substack.com??, it's the only newsletter you need for all things when Finance meets Technology. For founders, builders, and leaders.

Open Finance Genesis of a Revolution #fintech #openfinance #innovation By PwC & LFF

Nailed it! Monzo Bank co-founder & ex-CEO Tom Blomfield on why the #UK doesn't have more startups: "But, by far, the biggest barrier is cultural. Our national psyche doesn’t celebrate entrepreneurs and we have an extreme culture of risk-aversion. A huge majority of smart technical young people in the UK aspire to be lawyers or consultants or work in finance. These are safe careers with prestigious brands that guarantee people a safe, middle class lifestyle" - Tom Blomfield Unfortunately, this equally applies to 99% of Europe too. In the age of abundance, risk aversion and lack of innovation is eating us from the inside out. We need an equivalent to the American Dream. Something that would allow people to believe in themselves when nobody else does. Because the future belongs to optimists and risk-takers. European Dream ?????? P.S. check out ??linas.substack.com??, it's the only newsletter you need for all things when Finance meets Technology. For founders, builders, and leaders.

Personalization in banking is no longer a buzzword, it's a necessity. Banks are increasingly leveraging data, behavioral analytics, and smart design to give customers the power to shape their own financial experience. Some digital banks are leading the way by empowering customers to personalize their banking experience. Imagine having full control over your banking interface, editing quick links on the homepage to make it work for you (PT Bank Jago Tbk), or sorting automatically your salary into different sub-accounts (spending, savings, and shared) as soon as they receive it (Monzo Bank). Whether it's adding a little personality to money transfers with stickers (KASIKORN LINE), building savings habits with gamified goals (Cleo), or comparing loan offers from multiple banks based on your credit profile (????? Kakaobank), these features put the customer at the center. The future of banking is personalized, and the power is in the customer’s hands. It has never been easier to treat customers differently based on their unique needs and goals. It's now time for banks to start thinking about how they can create magical experiences. #Personalization #DigitalBanking #CustomerExperience #BankingInnovation #FinTech #FutureOfBanking

Open Banking Implementation Demystified Over the last few years, there has been a revolution in the way that banks and FinTech’s interact with each other. This revolution has resulted in better products, experiences, and services for consumers by enabling tools and mechanisms to exchange financial data securely by leveraging modern industry standards. This movement towards sharing data is Open Banking and presents us with a new operating model where Open APIs are used to establish interoperable systems that will allow for innovative financial products. For any bank, enabling APIs to expose the data of its customers to external parties will always be a challenge that needs to be solved using an engineering approach. When it comes to enabling Open Banking, the required solution is nothing more than a cross-organization API Integration project that prioritizes activities and outcomes such as: 1. Conducting a comprehensive review of existing APIs 2. Categorizing/ rationalizing based on capabilities 3. Establishing a governance framework and actively managing the API lifecycle in order to deliver digital services at scale These activities can be implemented depending on the situation and characteristics of the organization. Although various departments will contribute to this initiative, IT and Architecture teams most often take the bulk of the responsibility. A common theme that arises is whether there is any existing reference architecture or concrete guidelines that can be used to succeed in an Open Banking implementation initiative. Advantages of Open Banking for Customers Banking and FinTech providers’ use of customer data has enabled a more efficient, interconnected process. But what does this mean to the consumer? Through smarter data usage, customers have access to new applications that promise convenience, security and control over their financial experience like never before: ? Account aggregation: Allows customers to get an overview of their various accounts across different banks. ? Personal Finance Management: Provides the customers with a complete overview of their financial situation. ? Instant Credit Risks: Allows lenders to gain an almost instantaneous overview of an applicant’s credit history (especially useful to speed-up credit applications). ? Subscription Management: Detects all the recurring payments from the customer and shows them in one interface. ? Taxes Preparation: Banks can communicate with accounting platforms to retrieve tax data, which will allow them to realize operational efficiencies to reduce call volumes during the tax season. ? Payment Initiation: Think of this as a simplification of the payment experience, where there will be multiple payment options within the same payment interface; additionally, payments will be processed in minutes or hours versus days. ?? Subscribe for more insights https://lnkd.in/d94JgWBU Source Blanc Labs

Understanding International Money Transfers Sending money across borders has become easier than ever, but it's essential to understand the different methods available. Key Methods: - #Bank/Wire Transfers: Traditional method involving banks and correspondent banks. - Process: Sender's bank sends funds to a receiving bank in the recipient's country. - Pros: Secure, suitable for large amounts. - Cons: Can be slow and expensive. Money Transfer Operators (MTOs): Specialized companies offering various transfer methods. - Process: The sender provides funds to an MTO agent, who transfers them to the recipient. - Pros: Often faster and more convenient. - Cons: May have higher fees for smaller amounts. Choosing the Right Method: - Amount: Consider the amount you are transferring. Larger amounts may be better suited for bank transfers. - Speed: If you need the funds to arrive quickly, MTOs are often the better option. - Cost: Compare fees and exchange rates between different methods. - Convenience: Factor in the availability of agents or online platforms in your location and the recipient's country. Stay Informed: - Exchange Rates: Monitor exchange rates to get the best deal. - Fees: Be aware of any hidden fees or charges. - Regulations: Understand the regulations governing international #money transfers. Thank you Mastercard and EY Resource: https://lnkd.in/gtSERRJh #internationalmoneytransfer #remittance #banktransfer #mtos #fintech #globalpayments #crossborder #moneytransfer #exchangerates #regulations #isapwallet #isapexchange www.iSAP.Exchange www.wallet.iSAP.Exchange iSAP Exchange FZCO Tino Herold

Ryan is locked in on his #LinkedIn game - literally. ? For those not in the know, Ryan was Co-CEO of #FTX and is starting a seven and a half year sentence in federal prison. TGIF! https://lnkd.in/eRFg6d3S

After re-shaping both #fintech and #ecommerce, can Buy-Now-Pay-Later now challenge card payments? Let’s take a look. ? #BNPL owes its success to its double appeal to consumers and merchants. For consumers it’s convenience through a streamlined, low-friction, integrated check-out experience, whereas for merchants it's boosting conversion rates and average order value. ? As a result, what started as a niche offering is now a multibillion industry worth globally about $US316 billion only on the e-com side (2023 figures, source: WorldPay). ? But can BNPL really challenge credit cards? ? Let’s start from the basics: both credit cards and BNPL are unsecured consumer credit,?however there is a big difference in terms of risk underwriting: whereas the risk assessment for credit cards takes place ahead of the purchase and is based on hard, income-sided facts, BNPL manages credit risk by accessing alternative #data sources in real-time that enable instant approve/decline decisioning. ? Depending on market dynamics BNPL can be card-based or not, which can be a significant adoption driver for consumers with no access to credit cards, like young generations (the model’s most active customers). ? Despite its fast ascend, BNPL accounts today (source: WorldPay) for only 5% of the global e-commerce #payments market compared with 15% for credit cards and 8% for debit cards. On the POS side the numbers are even less favourable with BNPL at 1% vs 22% for credit cards and 18% for debit cards. ? However, seen from a future perspective BNPL is best positioned to benefit from the declining use of cash globally: it is expected to grow significantly both on e-com and POS. In markets like the Nordics it has already reached double-digit e-commerce market share figures (in Sweden, Klarna’s home market, BNPL has a 25% market share). ? BUT BNPL has 2 main disadvantages vs credit cards: 1.????Its inability to offer credit-card like rewards like return points, miles or cash backs. 2.????Relative (vs credit cards) limited acceptance on the merchant side ? Nonetheless, there is a creative work-around to these issues: virtual cards. ? The trick is the following: virtual cards tied to BNPL offerings, which can act (and be accepted) as normal credit cards. ? Benefits: -??????Work across merchants -??????Lose the acceptance problem (BNPL acceptance becomes credit card acceptance) -??????No difference to the typical BNPL benefits for both consumers (i.e. partial payments) and merchants (advance payment in full) -??????Additional flexibility for consumers ? As the market evolves, BNPL will be transforming itself to adjust, primarily across 3 main directions: 1) moving away from pure Pay Later plays and into more holistic payment strategies 2) fully integrated experiences, embedded across verticals using big data and AI for hyper-personalization 3) focus on the POS financing opportunity. ? Opinions: my own, Graphic sources: EY & Prove, Medici