??? How 2024's Tech Trends Are Changing Finance and Insurance

In today's edition, we’re taking a look at the world’s financial and insurance sectors — not how they are now but how they will be.

Because with more and more tech innovation coming along in 2024, these sectors look like they’re about to get major updates

Let’s dive right in!

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??? How 2024's Tech Trends Are Changing Finance and Insurance

In 2024, we're seeing huge changes thanks to AI, bioengineering, blockchain and efforts to cut down on carbon emissions.?

AI is revolutionising customer service, risk assessment, and operational efficiency in finance, streamlining processes that were once cumbersome and time-consuming.?

Meanwhile, blockchain technology promises enhanced security and transparency, reshaping trust in financial transactions and insurance claims.

But with these major advances come big ethical, societal, and environmental concerns.?

It's a crucial time to make sure these tech breakthroughs help everyone and do more good than harm. As we dive into this exciting future, it's all about finding the right balance.

Background

• Financial services are integrating AI and blockchain for smarter, more secure transactions.
• Decarbonisation efforts are influencing investment strategies and product offerings within the sector.
• The push for sustainability is seen in the adoption of green finance and eco-friendly insurance policies.
• Meanwhile, the broader tech supercycle hints at a future where every financial interaction is digitised.

Today

• New tech standards and scaled CBDCs mark 2024 as a pivotal year.
• Financial giants are moving beyond experimentation to implement technology-driven solutions.
• AI is transforming customer service and risk management, making services more personalised and secure.
• The industry's commitment to sustainability is growing, with increased focus on ESG investments.

What's Next

• Accelerated tech adoption will redefine banking, investment, and insurance landscapes.
• Innovations in AI and blockchain will enhance efficiency, security, and customer engagement.
• Sustainable finance will become a norm, with businesses and governments prioritising green investments.
• The sector's evolution will be shaped by the tech supercycle, emphasising the importance of digital agility and ethical AI use.

How will the upcoming digital and green revolution in banking and insurance affect the way we all manage and think about money?

?? EazyPay and Tabby team up to bring flexible, interest-free BNPL services to Bahrain's retail sector, enhancing consumer payment options.

?? Stripe's total payments volume hits $1tn in 2023, marking a major fintech milestone and showcasing a 25% growth from 2022 .

?? GoCardless to acquire Nuapay , expanding its bank payment platform to new sectors and enhancing open banking services.

?? SAP introduces a new cloud payment solution , enhancing retailer flexibility with third-party integrations like Stripe and Adyen.

?? Japan and ASEAN to launch integrated QR code payment system in 2025, enhancing cross-border transactions and tourism.

?? CRIF partners with BMW Financial Services to enhance car finance with open banking, improving loan access and decision speed.

?? Guru Spoc authorised by Brazil's Susep for Open Insurance, offering digital wallet and insurance comparison services .

?? SEC seeks an additional $158M to tackle the crypto market's challenges , aiming to boost staffing and address legal complexities.

?? IMF suggests Pakistan tax crypto gains to secure a $3 billion bailout to stabilise its economy amid various challenges.

?? Crypto ETFs hit a new weekly record with $2.9B inflows, pushing 2024's total to $13.2B and surpassing 2021's full-year inflows.

?? Zone raises $8.5m for blockchain-powered payments, connecting Africa's top banks and fintechs, led by industry veterans Obi and Wale.

?? Tokenize Xchange to boost Singapore team to 100, after raising $15.4M in latest funding, emphasizing regulatory compliance.

?? MercadoLibre to invest a record $2.5B in Mexico for e-commerce and fintech growth, aiming to enhance logistics and compete effectively.

?? Gulf Capital and Saudi RDIA commit $100M to fuel tech innovation in sectors like healthtech and fintech within Saudi Arabia.

?? Moroccan FinTech Tookeez raises $1.5M to enhance its blockchain-based loyalty platform for expanding in Africa and the MENA region.

India's Leap into Digital Currency: This report dives into India's Digital Rupee, explaining how it's set to change the game in finance. It covers everything from the basics of how it works, who's involved, and the technology behind it, to the challenges and benefits it brings. Aimed at demystifying India's move towards a digital economy, it also touches on privacy, security, and how it compares to traditional money and other digital payments, aiming for a future of easier, safer transactions. Click here to read the full report.

Explore the world of Venture Capital with Khaled Talhouni, Managing Partner at Nuwa Capital, in Episode 4 of Couchonomics with Arjun! We cover topics like the State of Venture Capital in 2023, market dynamics, lessons learned by VCs, challenges and opportunities for women founders, and more. Don’t miss this conversation full of invaluable insights. Tune in now !

Now, a quick break for your wellness. Chief Wellness Officer at FAB Diego Carrete is on a mission to help executives get fit, increase their energy, and live longer.

The 7 Best Natural Antidepressants

Good morning, This year marks 10 years living with anxiety and ADHD, and although it gets better, I doubt this will ever go away.

The graph below represents the time spent with children as we age. So if you're someone struggling with being present and having a racing mind, print it and stick it to your wall.

Anyway, enough about me. Let’s dive into the 7 best natural antidepressants according to science. These will help with anxiety, depression, and mood:

1) Sunlight: Sunlight exposure, sensory stimulation, and interaction with natural surroundings during outdoor walks modulate stress responses and alleviate symptoms of anxiety and depression.

How to make this easy: Every morning, make it mandatory to go for a 10-minute walk under the sun. If it’s too hot or since most of us aren't fortunate enough to spend our days outside, consider Red Light Therapy (RLT). There are plenty of machines available at affordable prices. I refrain from recommending specific ones since I only endorse products I've personally tried. However, Amazon offers some excellent suggestions.

2) Omega 3: Omega-3 fatty acids, especially EPA in fish oil, support brain function and reduce inflammation, potentially easing depression symptoms.

Foods rich in Omega 3 include fish and other seafood (especially cold-water fatty fish such as salmon, mackerel, tuna, herring, and sardines), nuts, and seeds (such as flaxseed, chia seeds, and walnuts).

3) Magnesium: Magnesium serves as a cofactor in numerous enzymatic reactions, including those involved in neurotransmitter synthesis and signalling.

4) Weight lifting: Resistance exercise induces the release of endorphins and other neurochemicals, such as brain-derived neurotrophic factor (BDNF), which promote neuronal growth and synaptic connectivity.

5) Zone 2 cardio: Moderate-intensity aerobic exercise elicits physiological adaptations, including increased cerebral blood flow and neurogenesis, particularly in brain regions implicated in emotional regulation.

Want an exact schedule to fit this into your busy schedule? I cover it inside my Linkedin Post here.

6) 8 hours of sleep: Sleep plays a crucial role in neurophysiological processes. Chronic sleep deprivation disrupts these processes, increasing susceptibility to mood disorders such as depression and anxiety.

7) Good relationships: Social interactions influence neuroendocrine and neuroimmune pathways implicated in stress regulation and emotional well-being. In other words, make it a priority not to be surrounded by jerks.

Helpful? See you next week were we will discuss 15 fitness rules for executives

This week we have news from?Google ,?Visa ,?Western Union ,?Consumer Financial Protection Bureau ,?Zelle? ,?PayPal ,?Alipay ,?WeChat Pay ,?Mastercard ,?Nexi Group ,?Red Sea Global ,?Fawran - ????? ,?First Abu Dhabi Bank (FAB) , and more.

Subscribe for weekly updates on all things fintech here . Thank you to our sponsors ToYou , Mastercard , M2P Fintech , Thunes , geidea , and Adyen for making today's edition possible.

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