Join us and Unlimit BaaS’ Managing Director, Jovi Overo in the exploration of some of the biggest headlines of our industry.
- The Bank of England and Financial Conduct Authority have set out a roadmap for regulating stablecoins [source: Finextra]
Stablecoins are growing in popularity because their digital currency nature is backed by a commodity which reduces the risk that comes with cryptocurrencies. The purchasing process can be made faster and more secure with the use of stablecoins because they are backed by real money, which also offers consumers assurance in the digital currency. The UK is striving to regulate stablecoins which will enable the currency to be used for retail payments of goods and services. – Jovi
- NatWest adds generative AI capabilities to its chatbot Cora [source: FinTech Futures]
Customer expectations are at an all-time high with demands around convenient payment methods, fast delivery, ease of access and much more. With this comes the need for personalisation – with communication, tailored offers, and more instant shopping experiences. The use of AI to enhance the virtual assistant services with more ‘human’ interactions for customers, so that they receive a service that offers trust and safety, whilst smartly resolving issues and queries to offer a seamless banking experience. – Jovi
- First Abu Dhabi bank launches BNPL card [source: The Fintech Times]
Financial institutions and service providers are making significant strides towards a financially inclusive environment. The buy now, pay later cards will enable shoppers to make repayments for their purchases conveniently and safely over a while. Buy now, pay later is a thriving solution because it offers consumers flexibility to make essential purchases, and gives businesses room to grow. As we’ve already seen, there is apprehension around the solution when considering the feasibility of people making repayments in the current economic climate. If handled correctly, BNPL will unlock new opportunities and bring potential for economic growth whilst empowering businesses and consumers. – Jovi
See you next week, back in the blog for your next weekly news roundup.