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Weekly News Roundup: 30/06

Welcome to our weekly news roundup, of headlines which we thought would be beneficial to our readers. We’ll bring you a weekly dose of some of the most interesting titles which have surfaced, on everything fintech, banking related, payments and beyond.
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This week’s roundup will feature titles on 4D credit, AI technology and cryptocurrency use in Hong Kong. Join us and Unlimit BaaS’ Managing Director, Jovi Overo in the exploration of some of the biggest headlines of our industry.

  • Experian has released 4D Credit to help lenders better support small businesses to battle economic uncertainty. [Source: Fintech Finance News]

By giving commercial lenders access to credit risk analytics and data, lenders can now use a fully comprehensive view of risk, affordability and growth when making decisions. The use of innovative technology and secure data management here will bring bespoke services to support consumers and lenders in a time when purchasing decisions and financial instability are prevalent topics of concern. And consequently, a better understanding for lenders will allow for more personalised support for new and existing customers with their financial profiles, performance and growth. – Jovi

  • Google Cloud has launched an artificial intelligence anti-money laundering product for financial institutions to effectively and efficiently detect money laundering activity. [source: IBS Intelligence]

Google is already a pioneer in the digital space and the importance of proactive movement rather than reactiveness is fundamental for the future of businesses. The shift from reactive to proactive will significantly reduce the impact of cybercrime and eventually deter activities as the success rate of fraud will reduce. There are numerous technologies which are emerging to support businesses and the wider industry with anti-crime transformation, such as know-your-customer, anti-money laundering and machine learning. – Jovi

  • UK banking and financial services organisation, HSBC, has launched a series of cryptocurrency services in Hong Kong. [source: The Paypers]

It is an exciting time when we see incumbent institutions transforming their products and services to cater to the needs of customers in the digital age. The introduction of a more mainstream use of digital currencies will provide wider access to users, including those who have shown resistance to veering away from traditional payment methods. This strategy will create a wider space for both consumers and businesses, with opportunities to scale wealth at a global and local scale by offering multiple currencies. – Jovi

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

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