There’s no doubt that the financial services industry is experiencing an evolution.

With a rise in modern fintech firms, traditional high-street banks have been forced to sit up and take notice. The next generation of customer — an increasingly tech-savvy consumer — is becoming enticed by the range of benefits offered by challenger banks. So, with an ageing client-base, how can traditional banks begin to tip the balance?

1. Impact of a Downturn

Set against a backdrop of geopolitical instability and potential trade wars, economies are predicted to be turbulent, and we may see tightening budgets as well as rapid investment in new businesses by private equity. This means that new owners of technology estates could see themselves purchasing high levels of cybersecurity debt and risk.

Spending on strategic cyber initiatives that are not directed by compliance or regulations is also likely to be tightened.

CoinList is a leading crypto launchpad and trading platform that connects the best new projects in crypto with high-quality early adopters of their products. It has a growing global community of more than four million active users.

Bondsmith, the UK's leading provider of cash management and savings solutions to the wealth management industry, has become a principal member of Visa, a world leader in digital payments, to further its mission of improving the wealth management industry through embedded banking services.  

The One Day Specialized Training Workshop on Basics of Islamic Microfinance organized by AlHuda Centre of Islamic Banking and Economics was successfully concluded at Grand Millennium Hotel, Lahore on December 21, 2022. The purpose of the training was to promote and strengthen the knowledge of Islamic Microfinance organizations.

HighRadius, the global leader in Autonomous Finance Platforms for the Office of the CFO, announced their new office in Kraków, Poland. HighRadius is headquartered in Houston, Texas, and this will be their fifth regional office in Europe, after London, Amsterdam, Frankfurt, and Paris.

Northteq, Inc., a leading provider of Salesforce loan origination solutions, along with FinWise Bank (FinWise), a subsidiary of FinWise Bancorp, announced today the successful integration and launch of Northteq’s Aurora Loan Origination System (LOS) to support FinWise’s nationwide expansion into the equipment finance industry.

GoLogiq, Inc., a U.S.-based global provider of fintech and consumer data analytics, has signed a definitive share exchange agreement with GammaRey, Inc., a privately-held fintech ecosystem for the New World Digital Economy.  

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Xalq Bank, one of the leading banks in Azerbaijan, has launched new XalqKart PETROL and CASHBACK cards using solutions from Compass Plus Technologies, an international provider of retail banking and electronic payments software. The cards were created to reward Xalq Bank customers for making transactions using the programs.