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- The Hidden Risks of Payment Apps ⚠️
The Hidden Risks of Payment Apps ⚠️
+ Learn about Monzo’s Global Play 🌍
Welcome to Fintech Wire — your quick guide to what’s shaping finance and tech today.
What we’ll cover today:
🌟 Monzo’s new CFO and their path to global growth.
⚠️ Why relying on payment apps as banks could cost you big.
📅 Key upcoming fintech events – Mark your Calendars!
Monzo, the UK-based digital bank, has appointed Tom Oldham, ex-CIO of Mombak, as its new Group CFO.
🚨Breaking News: Monzo is gearing up for global expansion and financial leadership with Tom Oldham, as they aim to cement profitability and grow internationally.
⚡Wire Simplified –
Tom Oldham, formerly at Mombak, takes charge as Monzo's CFO.
Mark Newbery from Barclays becomes UK CFO.
Monzo hit a $5.9 billion valuation and achieved profitability in 2024.
The bank plans an aggressive US expansion strategy.
Regulatory approval is pending for Oldham's appointment.
✔️Straight to the Point –
Monzo’s new CFO hires signal a clear move toward global dominance, profitability, and becoming a strong player in the US market.
🎤 Do you think Monzo’s expansion will challenge US-based digital banks? |
Payment apps like Venmo, Cash App, and Chime are convenient but lack traditional banking protections, putting user funds at risk..
🚨Breaking News: A new report highlights the dangers of relying on payment apps as banks, with no FDIC insurance or robust fraud safeguards.
⚡Wire Simplified –
Payment apps are popular but aren’t actual banks.
Funds might not be FDIC-insured, risking loss in case of app failures.
App-based fraud is on the rise, affecting consumer trust.
Awareness about the limits of these apps is growing.
Experts advise against using them as primary banking tools.
✔️Straight to the Point –
Using payment apps as banks might feel modern, but the lack of protections and rising fraud risks make it a dangerous gamble.
🎤Do you think payment apps will become safer over time? |
Brian Brooks has shown he can articulate complex blockchain & crypto concepts to Congress. His expertise in fintech and regulatory frameworks from his OCC role would bring unprecedented clarity to SEC policies, fostering innovation while safeguarding markets.
At Flyover Fintech, @BitwiseInvest highlighted how we can make crypto assets more accessible.
With the departure of SEC Chair @GaryGensler nearing, there are great opportunities ahead to support #fintech innovation and expand access to #DigitalAssets. Listen here
FinTech Connect unites global fintech leaders, financial institutions, and startups to discuss digital transformation, AI, and financial innovation. With insights from top-tier speakers and exhibitors, it’s a must-attend for the future of fintech.
Date: December 4-5, 2024 | Location: ExCeL London, UK
TRUSTECH is the leading event for payment and identification technologies, gathering global experts to discuss data privacy, fintech trends, and innovative solutions shaping the industry’s future.
Date: December 3-5, 2024 | Location: Paris, France
FinovateEurope highlights cutting-edge fintech innovations through live demos and discussions. It attracts top financial institutions and startups, offering unparalleled networking and insights into market-ready technologies.
Date: February 25-26, 2025 | Location: InterContinental London – The O2, UK
What do you think about today’s edition? |
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