Checking in on Recent Fintech Developments for November

It's time for a "News From the Fintech Front" update, and November proved to be an eventful month! Host Matteo Rizzi was joined by thinkers Jas Shah and Helen Yu to discuss the developments of the fintech industry. The episode began by looking into the reports that Alphabet may invest in the British digital bank Monzo. The speakers initially discussed the financial world but then changed the topic to the changes that Monzo is making, and pondered what Alphabet potentially wants out of this deal. They discussed the reasons for Alphabet’s decision as the conversation went on, trying to understand why the British-based Monzo was selected instead of any other European organizations. They went in depth regarding Monzo's unique approach, which emphasizes creativity, constructing products, and, most importantly, forming relationships with consumers. The news of Goldman Sachs stepping away from the credit product they had launched together with Apple shocked the tech world. The closure of Mint, a major provider of personal finance management services, was also explored in relation to the extensive array of financial tools currently available to consumers. Matteo moved his focus to the crypto realm to analyze the ongoing debates concerning Binance and FTX. He observed the departure of key personnel members from Binance, which led to doubts over the dependability and compliance of the cryptocurrency industry. He compared the circumstances at both Binance and FTX, commenting on the dissimilarities in the nature of the debates and the possible consequences for the trust and authenticity of the crypto community. The UK government then declared an "intelligent data large bank" program. Despite their recognition of the goal to improve smart data access and open banking, they were doubtful concerning the lack of precise plans and the failure to take practical measures. The episode's highlight was devoted to the rollercoaster at Open AI, examining Sam Altman's sudden and contentious departure from the CEO job. It scrutinized the discord between the board and Altman, demonstrating the board's lack of business understanding and the clash between development, data rights, and detecting prejudices. The Open AI experience graphically showed the necessity of governing and carefully thinking out strategies in today's rapidly developing tech environment. It's yet to be seen what kind of effect these breakthroughs will have on the direction of finance, tech, and creative thinking. Keep an eye on us and check out our upcoming episodes! Andrea De Caro's article presents an interesting perspective. He examines the issue from a unique angle. In his article, Andrea De Caro presents a distinctive viewpoint on the topic. He delves into the issue from an unconventional perspective. 📺 Check out the full episode at: https://youtu.be/QPCjOGTW3KE

Source: https://medium.com/@breakingbankseurope/its-time-for-some-news-from-the-fintech-front-and-what-a-november-it-was-3f911c755e60?source=rss------fintech-5