In 2023, fintechs need to prioritise providing merchants with sophisticated fraud detection and prevention capabilities to effectively secure the growing marketplace economy. The architecture of marketplaces creates a two-sided fraud risk for any given transaction. This can damage a marketplace’s reputation on both sides of the equation, making buyers less trusting and driving away top sellers. 

The business travel industry has embraced virtual payments over recent years, which see hotel bills settled using virtual cards, with payment made directly from the employer’s bank. The approach removes the need for employees to pay with their own method before reclaiming through an expense report, drastically simplifying back-office finance administration and providing companies with the ability to better control travel spend.

Crypto acceptance

While 2022 was a tumultuous year for cryptocurrency according to the big headlines, blockchain innovation continues. For example, we’re seeing the development of Cross-Chain Bridges so different blockchains can communicate with each other—so smart contracts can read and write data to and from other blockchains.

iDenfy, AI-powered ID verification, fraud prevention and compliance startup, announced partnering with UpStack, premium staffing solution for fast-growing companies. iDenfy’s AI-driven biometric ID verification will enhance the safety of UpStack while helping onboard applicants more efficiently. 

Eventus, a leading global provider of multi-asset class trade surveillance and market risk solutions, and Fennel Financials LLC, which just launched an Environmental, Social and Governance (ESG)-focused platform offering retail investors access to tools to better engage with companies, today announced that Fennel has chosen to deploy the Eventus Validus platform for all of its trade surveillance activities.

The internet of things (IoT) is set to change the working lives of huge numbers of finance professionals.

Based on edge computing infrastructure and 5G or high-speed fibre connectivity, the IoT makes it possible for almost any organisation to benefit from AI (Artificial Intelligence) and machine learning (ML) applications processing masses of data. These will supply a stream of real-time data insights that will transform everything from asset utilisation and inventory management to financial reporting.

From pandemics to politics, we live in extraordinary times. Focusing on technology, we find that in less than two decades our collective experience of digital interactions has transformed beyond recognition, fuelled almost exclusively by smartphones.  

2022 has been a tough year for some in the crypto sector and we’ve seen a series of high-profile business in the space collapse. But we shouldn’t allow that to distract us from genuine innovation in the space, and the emergence of sustainable business models built using blockchain technologies.

Leading global cryptocurrency exchange Bitget announces that it has registered in Seychelles to aid global expansion. The exchange operates in a decentralised manner with no specific headquarters, with regional hubs in strategic markets, and plans to set up more regional hubs in the future. The exchange has also updated its recruitment plan with a new target of 1200 headcount by the first quarter of 2023, increasing its workforce by another 50% from its existing size, to better meet user demand and support business growth.

The TAINA Team is thrilled to have successfully raised another round of funding with the participation from HSBC Asset Management, Deutsche Bank CVC, SIX FinTech Ventures and  Anthemis. 

In Q1 of 2023, TAINA is looking forward to welcoming other Top Tier Global Financial  Institutions as investors and clients, details will be disclosed in due course.