What's been happening in the world of fintech this week? Grab a glass of the good stuff – hell, grab the whole bottle – and we'll tell you all about it.
Total Crypt-o of the heart
Apologies for the headline. The UK Government has announced a cryptocurrency task force to "manage the risks around crypto assets, as well as harnessing the potential benefits." Read more here.
Complicated tech terms? It's not cricket
Innovation is in danger of being stifled in the boardroom thanks to execs who don't understand tech, Leda Glyptis, Chief Innovation Officer at QNB Group and fintech heavyweight has warned. Using cricket as an analogy, Glyptis wrote that emerging technology, like cricket, is almost impossible to describe to someone in any other terms than the tech. If the basics of tech infrastructure are not yet understood in the upper echelons of business, it will be near impossible to explain any advances, she said.
"If cricket can only be fully understood by people who already understand it, then the opposite of cricket is an executive who doesn’t know the first thing about how their current digital infrastructure works, wanting to understand everything about distributed ledgers." Read the full post on Fintech Futures.
Viva la Revolut! Challenger bank launches disposable cards
Revolut has launched single-use virtual cards in an effort to combat card fraud.
“While fintechs generally offer a better service than traditional banks, they still have a long way to go in order to build trust and confidence with consumers,” said Vlad Yatsenko, Revolut’s co-founder and chief technology officer.
“Instead of matching what the larger institutions are doing, we are changing the game entirely by introducing disposable virtual cards and promoting existing features such as location-based security and the ability to freeze/unfreeze cards.” Read the full story in City AM.
View from the bridge: Gov announces fintech link between UK and Oz
Australia has signed an agreement with the UK that will benefit its fintech companies looking for improved access to global markets. The UK-Australia FinTech Bridge, signed in London on Thursday, will deepen ties between the Australian and UK governments and regulatory agencies. Full story here.
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