Thursday, February 9, 2023
LetsAskBinu.com
  • Home
  • Cybersecurity
  • Cyber Threats
  • Hacking
  • Protection
  • Networking
  • Malware
  • Fintech
  • Internet Of Things
No Result
View All Result
LetsAskBinu.com
No Result
View All Result
Home Fintech

2022 Fintech Lessons Learned With FinTech Wales, AAZZUR, Hokodo & More

Researcher by Researcher
December 24, 2022
in Fintech
0
Fintech Trends in 2022 With Hokodo, DataSeers, Ageras, Token, Lumanu
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


This month at The Fintech Times our focus switches to reflection as we look back  at developments over the last 12 months. 2022 has certainly been a challenging year for everyone with global economic activity experiencing a severe slowdown, with inflation higher than seen in several decades.

What lessons were learnt over the last 12 months? Leaders at Carta Worldwide, FinTech Wales, AAZZUR, Hokodo and Brite Payments share their 2022 takeaways.

Sarah Williams-Gardener, FinTech Wales
Sarah Williams Gardener is the CEO of Fintech Wales
Sarah Williams Gardener, CEO, Fintech Wales

2022 has been an extremely positive year for Welsh fintechs, says Sarah Williams-Gardener, CEO at FinTech Wales.

“We’ve seen great success and growth from a number of our startup, scaleup and enterprise members with activity both nationally and globally. We have gone from a thriving fintech cluster to a critical cluster as part of Team GB’s position on the global stage.

“We must however not become complacent, and continuously seek to grow and connect our community. FinTech Wales’ accelerator programme, The Foundry, in particular, is making huge steps to attract and support startups within Wales, and is also a significant factor in attracting international companies from all over the world to develop in Wales.

“Whilst there’s much uncertainty ahead, there has never been more of a need for fintech solutions than there is now. Highlighted in our annual report are the positive contributions Welsh fintech are providing to tackle the cost of living crisis. We also formed part of the solution to continue to reduce the devastating effect of Covid-19, and are working with partners across multiple sectors to support the future for a sustainable world.

“We can’t, however, assume that people know that such incredible innovation is being developed and delivered from Wales, and we therefore must be louder and prouder to promote the achievements of Welsh fintechs to highlight the strengths we have in the region.”

Philipp Buschmann, AAZZUR
Philipp Buschmann, CEO of AAZZUR
Philipp Buschmann, CEO, AAZZUR

“Year 2022 was the best year my company, AAZZUR, has had…but also the hardest,” says Philipp Buschmann, founder and the CEO of embedded finance company AAZZUR.

“2022 reminds me in many ways of 2001; where the expectations of investors jarred with dotcom companies. Then as now, the core, the foundations of the better companies kept improving.

“Even new Web2.0 and digital economy companies started being founded but if you read the news back in 2001/2 you could see articles calling the internet a temporary fad. Now we have  some voices asking if BaaS (for example) is really a transformative technology. Yes, it is, and yes, it is still nascent.

“So, looking back at 2022 is insightful. On the fintech space we have a mini-repeat of an investor led washout; whilst many companies enjoyed growth. So, what I have learned is that regardless of one’s positioning and growth, industries move in waves. We will keep riding. The swell is just beginning.”

Richard Wray, Carta Worldwide
Richard Wray
Carta Worldwide COO, Richard Wray

Richard Wray is chief operations officer at Carta Worldwide, a paytech and global digital payments company. He suggests fintechs are learning to work more with regulators.

“Fintech has always held disruption at its core and is known for moving fast, and occasionally breaking things. In stark contrast, regulation has largely been cautious, slow, and unable to match the relentless pace of fintech innovation.

“This has created problems – from a runaway BNPL market to acquirers overcharging merchants and crypto firms going under and losing customer’s money. In 2023, we’ll see a step change in regulation including new rules to consumer credit across Europe to cover BNPL, the PSR stepping in to protect merchants, and MiCA to regulate crypto assets.

“Fintechs, previously resistant to more regulation, are now demanding rules to bring stability and order to a market that has faced a year of uncertainty and upheaval. The mistakes we’ve made collectively as an industry over the past year, largely the result of bypassing due regulatory diligence, have taught us that we must learn to work with regulators rather than around them, to ensure we continue to operate in the best interests of our customers.”

Louis Carbonnier, Hokodo
Louis Carbonnier
Louis Carbonnier, CEO and co-founder, Hokodo

The co-founder and co-CEO of fintech Hokodo, which provides BNPL solutions to the B2B market, Louis Carbonnier, talks about the importance of being unique.

“This year at Hokodo we worked hard to complete our Series B fundraise. With interest rates rising, the cost of living crisis worsening, and many countries around the world heading into a recession, successful fundraising for fintechs will – temporarily – become a much rarer thing than it has been in recent years.

“However, one of the takeaways for us and other fintechs is that, if you have a unique proposition, a fortified product market fit, and the right team behind you, it’s certainly not impossible to complete a fundraise even when times are tough.

“The other takeaway from 2022 is that crises bring opportunities along with the more obvious threats. In the case of Hokodo, we’re going to face several headwinds in the coming months including more expensive financing, heightened risk of non-payment and slower growth of B2B trade.

“However, at the same time, our clients are willing to move more decisively to digital solutions, e-commerce is gaining ground vs. offline sales, and offering trade credit to customers has become a stronger differentiator due to the global funding crunch, which drives higher demand for our solution. As a result, we’ve never seen as much inbound interest!”

Lena Hackelöer, Brite Payments
Lena Hackelöer, CEO and founder, Brite Payments
Lena Hackelöer, CEO and founder, Brite Payments

“It’s clear that consumer demand for services like ours is increasing, ” says Lena Hackelöer, CEO and founder of Brite Payments, an A2A provider of instant payments and payouts, powered by open banking.

“That was a big takeaway from this year, but it’s also made us question what comes next on the path towards widespread adoption,” she says. “If you ask me, now is the time for more collaboration between fintechs and legacy financial institutions, including banks. As a sector, we really need to move towards a more effective model of coopetition, not competition.

“Building off the back of the rise of A2A payments, 2022 was the year it became obvious how much consumers really value convenience. So many things in our everyday lives have become instantaneous – why not payments? As a sector, we need to acknowledge that this demand for real time experiences is not going to go away. Delivering solutions that offer security, convenience, and real-time response will require much greater collaboration from numerous parties.

“2022 has reaffirmed the importance of open banking in delivering such solutions, which is why it’s so crucial we work to uphold and improve it in the years ahead. To this end, it is time to evolve the regulatory framework to improve the stability and ease of access to the bank APIs that facilitate open banking-based services.”



Source link

Related articles

“Fintech Right Now is a Boys Club” – How to Close the Gender Gap in Fintech with Stax

Spotlight: How the Isle of Man Became an Insurtech Hub

February 8, 2023
UK Fintech News Round-Up: The Latest Stories 02/03

UK Fintech News Roundup: The Latest Stories 08/02

February 8, 2023
Tags: AAZZURFintechHokodolearnedlessonsWales
Share76Tweet47

Related Posts

“Fintech Right Now is a Boys Club” – How to Close the Gender Gap in Fintech with Stax

Spotlight: How the Isle of Man Became an Insurtech Hub

February 8, 2023
0

A quaint little island off the coast of England is the perfect backdrop for a jolly seaside holiday. But how...

UK Fintech News Round-Up: The Latest Stories 02/03

UK Fintech News Roundup: The Latest Stories 08/02

February 8, 2023
0

Every Wednesday, we delve into the latest fintech updates from across the UK. This week brings updates from the FCA,...

WeTransfer Joins Forces With Minima to Empower NFT Creators

WeTransfer Joins Forces With Minima to Empower NFT Creators

February 8, 2023
0

Decentralised blockchain platform Minima has partnered with digital content-sharing platform WeTransfer to deploy non-fungible tokens (NFTs) on the Minima network.WeTransfer...

Which of UK’s Biggest Banks are Guilty of Basic Security Risks?

Which of UK’s Biggest Banks are Guilty of Basic Security Risks?

February 7, 2023
0

Some of the biggest banks are guilty of putting customers at an increased risk of fraud, Which? research has found....

This Week in Fintech: TFT Bi-Weekly News Roundup 08/02

This Week in Fintech: TFT Bi-Weekly News Roundup 07/02

February 7, 2023
0

Welcome to The Fintech Times Bi-Weekly News Roundup on Tuesday 7 February sess Afterpay reduces fraud risk with Cloudera while...

Load More
  • Trending
  • Comments
  • Latest
This Week in Fintech: TFT Bi-Weekly News Roundup 08/02

This Week in Fintech: TFT Bi-Weekly News Roundup 15/03

March 15, 2022
QNAP Escalation Vulnerability Let Attackers Gain Administrator Privileges

QNAP Escalation Vulnerability Let Attackers Gain Administrator Privileges

March 15, 2022
Supply chain efficiency starts with securing port operations

Supply chain efficiency starts with securing port operations

March 15, 2022
A first look at threat intelligence and threat hunting tools

A first look at threat intelligence and threat hunting tools

March 15, 2022
Beware! Facebook accounts being hijacked via Messenger prize phishing chats

Beware! Facebook accounts being hijacked via Messenger prize phishing chats

0
Shoulder surfing: Watch out for eagle‑eyed snoopers peeking at your phone

Shoulder surfing: Watch out for eagle‑eyed snoopers peeking at your phone

0
Remote work causing security issues for system and IT administrators

Remote work causing security issues for system and IT administrators

0
Elementor WordPress plugin has a gaping security hole – update now – Naked Security

Elementor WordPress plugin has a gaping security hole – update now – Naked Security

0
Google’s AI Chatbot Is Out To Rival ChatGPT

Google’s AI Chatbot Is Out To Rival ChatGPT

February 9, 2023
New cybersecurity data reveals persistent social engineering vulnerabilities

New cybersecurity data reveals persistent social engineering vulnerabilities

February 9, 2023
New ToddyCat APT Targets Exchange Servers

Fortra Patches Actively Exploited Zero Day in GoAnywhere MFT

February 8, 2023
“Fintech Right Now is a Boys Club” – How to Close the Gender Gap in Fintech with Stax

Spotlight: How the Isle of Man Became an Insurtech Hub

February 8, 2023

Recent Posts

Google’s AI Chatbot Is Out To Rival ChatGPT

Google’s AI Chatbot Is Out To Rival ChatGPT

February 9, 2023
New cybersecurity data reveals persistent social engineering vulnerabilities

New cybersecurity data reveals persistent social engineering vulnerabilities

February 9, 2023
New ToddyCat APT Targets Exchange Servers

Fortra Patches Actively Exploited Zero Day in GoAnywhere MFT

February 8, 2023

Categories

  • Cyber Threats
  • Cybersecurity
  • Fintech
  • Hacking
  • Internet Of Things
  • Malware
  • Networking
  • Protection

Tags

Access attack Attacks banking BiWeekly bug Cisco cloud code critical Cybersecurity Data Digital exploited financial Fintech Flaw flaws Google Group Hackers Krebs Latest launches malware Microsoft million Network News open patches Payments platform Ransomware RoundUp security Software Stories TFT Threat Top vulnerabilities vulnerability warns Week

© 2022 Lets Ask Binu All Rights Reserved

No Result
View All Result
  • Home
  • Cybersecurity
  • Cyber Threats
  • Hacking
  • Protection
  • Networking
  • Malware
  • Fintech
  • Internet Of Things

© 2022 Lets Ask Binu All Rights Reserved