January Newsletter
Welcome to the five°degrees fintech newsletter!?????
Join us as we delve into the ever-evolving world of financial technology, including the exciting realm of core banking. Stay informed about the latest trends, insights, and news shaping the fintech and core banking landscape. From disruptive innovations to market analysis and thought leadership, our newsletter is your go-to resource for staying ahead in the dynamic world of fintech and core banking. Let's explore the future of finance together! ????
Global Fintech Investment Falls 20% in 2024
Global fintech investment dropped 20% to $43.5 billion in 2024, with deal volumes falling 16%. The UK saw a 37% decline, raising $3.6 billion, while female-led fintechs faced a 78% funding drop. Innovate Finance cites rising interest rates and geopolitical instability as key factors. Signs of recovery emerged in H2 2024, with optimism for 2025 growth. Read more.
Fintechs Urged to Prioritize Digital Accessibility
Ahead of the June 2025 European Accessibility Act deadline, Nexer Digital launched the 'I Matter Too' campaign to promote inclusivity in fintech. The legislation mandates accessible websites, apps, and devices for individuals with disabilities. Nexer calls on businesses to go beyond compliance and address barriers faced by users, highlighting real stories to inspire action. Read more.
Revolut Launches In-App Calls to Combat Impersonation Scams
Revolut introduced an in-app calling feature to prevent impersonation scams, offering customers a secure way to verify communication with customer support. The system has already reduced fraud cases to their lowest in two years. Customers are advised to verify unexpected calls via the app for added safety. The feature will also expand to business accounts soon. Read more.
Visa Introduces Apple Pay in Egypt for Secure Contactless Payments
Visa has partnered with Apple to launch Apple Pay for Visa cardholders in Egypt, meeting growing demand for seamless digital payments. Users can make secure, contactless transactions via iPhone or Apple Watch, protected by advanced encryption and biometric security. Visa highlights this as a milestone in driving digital adoption in Egypt, aligning with the country's shift to a digital-first lifestyle. Read more.
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Mastercard Settles Gender and Race Bias Suit for $26M
Mastercard will pay $26 million to settle claims it underpaid 7,500 female, Black, and Hispanic employees since 2016. Allegations include assigning jobs below pay grades and unequal pay compared to white colleagues. As part of the settlement, Mastercard will conduct pay equity audits and assess workplace bias. The company denies wrongdoing but seeks closure. .
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