Huawei Cloud Spearheads Fintech Innovation in Egypt.

What we’ll cover today:

🚀 New Fintech Potential with Huawei.

💡 There’s no secret sauce.

🏦 If Big Banks Win Embedded Finance Innovation Dies

🔗 The Event Roundup.

New Fintech Potential with Huawei.

Huawei Cloud just hosted its first-ever Fintech Summit in Cairo, and it was nothing short of groundbreaking!

This event showcased Huawei Cloud KooVerse's global infrastructure, custom-built to turbocharge fintech operations with unmatched performance and reach.

Key discussions included:

• The crucial role of stringent security compliance.

• The transformative potential of scalable, cloud-native databases that promise to elevate fintech companies to new heights.

Regulatory strides:

• The summit illuminated the regulatory strides to digitise non-bank financial services, aligning perfectly with Egypt's Vision 2030 for broader financial inclusion.

Exciting developments:

• Huawei increased excitement by launching its Pioneer Program, offering juicy discounts to local fintech firms eager to scale up and dominate.

Here’s the whole article.

1. There’s no Secret Sauce For This.

This is a clip from Fintech Confidential.  

In this episode of FinTech Confidential, Timothy Li, CEO of LendAPI says: "There’s no secret sauce. Talk to your customers. And you have to practice conscious listening… Whatever that was they’re suffering in the past 2, 3, 4, 5 years, that’s what I need to build.”

Here’s The Clip

2. If Big Banks Win Embedded Finance Innovation Dies.

This is an article by Simon Taylor from Fintech Brainfood. 

In this article, Symon discusses how, as consent orders have risen, the number of new Fintech companies has cratered. 

If this continues, we'll lose out on new financial inclusion and financing start-ups that create jobs and growth. We must fix this.

Here’s The Podcast.

1. MODIFI captures $15m investment to expand SME exports in Asia.

MODIFI, a leader in B2B Buy Now, Pay Later (BNPL) solutions, recently announced a substantial $15m investment.

The SMBC Asia Rising Fund spearheaded the funding round with contributions from existing backers Maersk, IntesaSanPaolo, Heliad, and other prominent global investors.

2. Earnings Spotlight FinTech Platforms’ Progress in Speeding Banking’s Digital Shift

Fiserv CEO Frank Bisignano said on the company’s earnings call with analysts Oct. 22 that “we continue to migrate clients to Experience Digital, or XD, our new digital banking solution, as we integrate additional solutions into this unique digital ecosystem, including CashFlow Central, real-time payments, Clover and more.”

3. How will the new APP scam protections impact APP fraud?

According to Taavi Tamkivi, CEO and co-founder of Estonian RegTech Salv, the new legislation won’t impact fraud directly – as in his words, ‘fraudsters don’t care about regulations, and they certainly aren’t reading the legislation’. 

Despite this, it will affect companies, as they will now have to take fraud prevention more seriously – a pressure Tamkivi hopes will prompt firms to start making an impact on fraud itself.