TFT Weekly Editorial Update

?? Love is in the Inbox! ??

It seems like Cupid has taken a liking to the world of finance and technology, as we've received an abundance of heartwarming announcements, sweet deals and affectionate pitches this Valentine's Day.

However, amid the romance, are tales of less savoury declarations of love and attempts at deception.

Sophos has shared details of a two-year investigation into scammers leveraging a business model similar to 'cybercrime-as-a-service' by selling sha zhu pan kits on the dark web. Originating from organised crime gangs in China, the new kits provide the technical components needed to implement a specific pig butchering scheme called 'DeFi savings' - criminals position DeFi savings scams as passive investment opportunities that are similar to money market accounts.

Similarly, analysts from CYJAX , a threat intelligence provider, have identified an increase in romance scams from social engineering groups based in Africa posing as diplomats abroad. These threat actors are targeting UK-based wealthy middle-aged individuals between 30-55.

Hopefully, your day will be filled with genuine love and prosperous investments!

Tips for avoiding scams

1. Verify the person you're speaking to online via video or voice messages, and request a current picture with a visible timestamp or specific item. Also, run a reverse image search of their profile photo to spot inconsistencies.
2. Avoid sending money or gift cards and refrain from sharing personal or compromising information.
3. Meet in person before taking communication off the dating site and verify their background by asking about their location and preferences.
4. Be cautious of strangers reaching out on social media or dating apps, especially if they push for private messaging or discuss 'get rich quick' schemes promising large returns.
5. Educate yourself on the tactics of romance and investment scams, and withdraw funds and contact law enforcement immediately if you suspect you've been scammed.

Getting ready for Dubai ??

Earlier this week, we visited London & Partners ' office to catch up with 24 Grow London global companies making their final preparations before they head off on a trade mission to Dubai later this month.

The Fintech Times' very own Mark Walker , joined Henry Mayger from Wiserfunding and Mohammed Tartir of Taylor Wessing UK as the trio discussed their tips for UAE expansion.

The Fintech Times Podcast ???

In this week’s episode of News & Views, The Fintech Times Podcast Team speaks about the potential warnings of buy now, pay later (BNPL) and how companies can bust the myths as well as discuss which is better in fintech: innovation vs evolution.

Having recently attended the Digital Insurance Summit Europe 2024, the News & Views Podcast team begin their conversation by discussing the difference between innovation and evolution and whether organisations should prioritise one over the other.

The trio then speak about BNPL and what needs to be done (if anything can be done) for it to lose its bad reputation. Given the paytech monthly focus at?The Fintech Times, the discussion looks at how BNPL myths have been busted while also looking at the other side of the coin and seeing how detrimental is still is for some users.

Finally, Francis Bignell , Thomas Bleach and Polly Jean Harrison look back on fintech investment in 2023 and give their opinions on what 2024 might hold for the industry.

??Listen on Apple Podcast

??Listen on Google Podcast

??Listen on Spotify

??Listen on The Fintech Times Website

In the news... ??

??In the latest News Roundup, we hear that Revolut has become the first financial institution in the UK to launch an eSIM, while Startupbootcamp Australia ,?one of the world’s largest industry-focused accelerators, has appointed Tim Poskitt as its new MD for fintech in the APAC region.

Check out more news snippets here ????????

This Week in Fintech: TFT Bi-Weekly News Roundup 13/02

?? In our recent Behind the Idea, we chat to Pav Gill to learn how Confide Platform has evolved from addressing the lessons learned from the Wirecard scandal into a holistic platform for governance, risk management, and integrity assurance. ????

Behind the Idea: Confide

??We hear from Patrick Smith , founder and CEO of zally? , the Manchester-based tech startup leading the way with continuous user authentication. We find out Smith’s take on the purpose, aims, past and future of Zally; while learning more about him along the way.?????????

In Profile: Patrick Smith, CEO of Zally

??Supermarket Tesco has a struck a ￡600millon deal to sell its banking operations to Barclays with the bank taking over Tesco’s credit cards, loans and savings accounts. Does it reflect a wider trend of consolidation within the banking sector? We share industry reaction ????????

Tesco’s Banking Exit Fuels Speculation of Wider Industry Consolidation

?? The pendulum seems to be swinging from the era of easy capital and rapid growth to a more sobering reality of value creation. Scott Dawson , head of sales and strategic partnerships at payment platform DECTA delves into this transition, offering an?understanding of the strategic opportunities emerging amid industry challenges. ????????

Post Investment: Can Fintech Rebuild on Value, Not Hype?

Calling for insurtech insights! ??

We are putting the spotlight on insurtech and the insurance sector in March.

We're looking for industry leaders and experts to provide insights into the following topics:

• Driving towards net zero - How can the insurance industry lead sustainable initiatives and mitigate climate-related risks?
• The age of AI hype - Is the insurance sector risking over-reliance on artificial intelligence, and what's the balance between innovation and human expertise?
• Spotlight on data analytics - In what ways is advanced data analysis reshaping insurance and the sector's decision-making?
• The new kids on the block - How are startups and incumbents collaborating to drive innovation and meet changing consumer demands?
• Closing the protection gap - How are insurers leveraging fintech solutions to bridge the digital divide and enhance financial inclusion in underserved regions?
• Navigating global disparities - What impacts do regional variations in regulatory frameworks have on insurers' strategies and operations worldwide?
• Blockchain's global impact - How is blockchain technology impacting insurance processes and fostering trust in digital transactions?
• Fintech innovation hubs - Which regions globally are leading the charge in insurtech innovation, and what factors contribute to this?
• Deadline is 29 February 2024 - email [email protected] to take part!