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Weekly News Roundup: 16/12

Welcome to our weekly news roundup, of headlines which caught our eye. We’ll bring you a weekly dose of some of the most interesting titles which have surfaced, with a particular focus on the topics of banking, AML, tech and beyond.
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This week’s roundup will feature titles on digital currency, investment in stocks and cash protection. Join us and Unlimit BaaS’ Managing Director, Jovi Overo in the exploration of some of the biggest headlines of our industry.

  • Amazon has announced its plans to launch a TikTok inspired feed on its app. This is aimed at enticing new shoppers, particularly of younger generations, to swiftly go through photos and videos from influencers  [source: Charged]

Commerce is a central activity in human sociality so any time there is a new medium, i.e the Internet, consumers will shift to doing commerce through the new media. Right now, and with that demographic, it’s TikTok. Hence Amazon adopting this strategy. – Jovi

  • Apple will be allowing alternative app stores and apps on its devices, removing the need for Apple’s own app store. The shift come because of new anti-monopolistic requirements from the EU. [source: Coin Telegraph]

This is a huge win for consumer freedom, bringing options to users to engage with alternative platforms. But additionally, the anti-monopolistic requirements will give room to other tech providers, including crypto, to introduce new ideas to society in a simplified manner. – Jovi

  • Visa has pledged to invest $1 billion to Africa in support of accelerating their digital transformation. The money will be used to scale operations, broaden collaborations with partners and deploy new technologies. Visa operations in Africa also are required to work with the continent’s mobile money and alternative payment FinTechs to open digital payment opportunities to the unbanked populations. [source: Pymnts]

Africa has been an acknowledged continent as the next leader in digitalisation, and Visa’s support will be fundamental to creating corridors and opportunities for all. As a mobile-led continent, there is unparalleled importance in the partnerships with fintechs and financial institutions to work together to bring the unbanked into the digital revolution. – Jovi

See you next week, back in the blog for your next weekly news roundup.

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