Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Today in FinTech: Skrumble Network raises $19 million CAD in ICO, Goldmoney partners with Malbex Resources
Betakit | | Jul 4, 2018
Several Canadian FinTechs have made announcements on the growth of their companies, launching new features and partnerships. Here’s the latest on these company updates.
Skrumble Network raises $19.96 million
Toronto-based Skrumble Network, which aims to create secure connections for communication, raised $19.96 million ($15 million USD) through its token crowd-sale.
Skrumble Network said it raised the funding for its communication-centric blockchain network that will provide developers the infrastructure to build messaging apps. The company wants to help developers build messaging apps that feature secure connections, real-time voice and video calling, wallet integrations for in-context money transfers, and the ability to edit, save, and unsend messages.
Skrumble Network said its broader goal is to address data privacy concerns and allow users to take back ownership of their personal data. The company uses a consensus-based algorithm derived from unique session IDs, which enable private peer-to-peer connections.
“Social media has completely changed the face of communication, and now, data privacy and ownership is one of the biggest concerns of this time. 2.2 billion users around the world have trusted Facebook with their information; 87 million of those users received a wake-up call…when they got notifications that their personal data was compromised, sold, and used to manipulate them,” said Eric Lifson, co-founder of Skrumble Network. “Skrumble Network aims to build back the trust that has been lost since these recent events. Finally, people can connect globally and speak freely on the most secure network possible.”
Goldmoney partners with Malbex Resources
Toronto-based Goldmoney, a gold-based payments and savings platform that allows users to acquire, store, and spend gold that is stored in a secure vault, has announced a partnership with Malbex Resources, which focuses on investments in cryptocurrency and blockchain sector assets.
See: Toronto Fintech & Funding Networking Event (Jul 11, 2018): 4th Annual NCFA Summer Kickoff!
The partnership with Malbex Resources (which will soon be renamed as COIN) will allow Goldmoney to facilitate all purchases and sales of cryptocurrencies. Goldmoney’s subsidiary BlockVault will act as a third-party qualified custodian for Malbex Resources’ crypto-asset holdings.
“Having worked with the Malbex team for over six months to achieve the proper operational structure and listing approvals, we are confident in COIN’s potential and this partnership,” said Josh Crumb, Goldmoney CSO and founder of BlockVault.
“COIN is one of the world’s first crypto-asset merchant investment businesses to achieve a listing on a major exchange, and the only one that I’m aware of that will have fully-transparent, third-party insurance and auditing on their crypto-asset portfolio.
Our relationship with COIN is an exciting first example of the types of markets we can open up with BlockVault’s institutional cold-storage technology, allowing institutional investors exposure to this new asset class while ensuring the private keys for their underlying assets are securely stored in safe custody and insured.”
Finn AI launches on the Temenos Marketplace
Finn AI, which works with financial institutions to launch AI assistants, has launched on the Temenos MarketPlace.
Temenos Marketplace is a web-based application that allows users to manage business applications on a single site. Specifically, the Marketplace allows financial institutions to access FinTech solutions.
Finn AI has been working with Temenos for almost a year. In 2017, the company participated in Temenos’ Innovation Jam competition, which focuses on uncovering exciting FinTech companies.
“Finn AI, which won Innovation Jam Miami last year, is one such company, allowing bank customers to conduct banking using simple conversation over their preferred channels,” said Ben Robinson, CSO at Temenos. “The solution has continued to evolve since then and is it now available on MarketPlace.”
“We evolve the way bank customers interact with their banks, providing them with a conversational personal banking assistant that uses artificial intelligence and natural language processing to create an experience that is relevant and modern,” said Jake Tyler, CEO of Finn AI.
“Finn AI allows bank customers to manage and learn from their money via their channel of choice – such as Facebook Messenger, native iOS and Android apps, web chat and others. Since we only work with banks, we have built a clear domain expertise that allows us to integrate faster with better results. We look forward to bringing this solution to Temenos clients all over the world.”
More: The world’s new oil and AI’s imminent impact on the future of Fintech
Earlier this month, Finn AI announced that it is collaborating with Visa Canada to leverage its Visa Developer platform to enhance its conversational banking chatbots. Finn AI closed a $3 million bridge round led by Yaletown Partners in October 2017.
Continue to the full article --> here
Click for News:
Regulatory Insights | Sep 21, 2023 A recent speech by Victoria Saporta at the Bank of England conference sheds light on the Prudential Regulation Authority's (PRA) vision and its commitment to bolstering the UK's position as a global financial hub focusing on international competitiveness and growth. Victoria Saporta, Executive Director, Prudential Policy highlighted the PRA's new secondary objective, which emphasizes facilitating the UK economy's international competitiveness and growth over the medium to long term. This objective aligns with international standards, ensuring that the UK remains a key player on the global stage. The PRA's approach to this objective isn't entirely new. They initiated a conversation about a year ago with a Discussion Paper that outlined their policy approach. Saporta's speech in February further solidified the PRA's stance, proposing regulatory foundations that would guide their approach. Three Pillars of Competitiveness and Growth See: Canada’s Competition Problem: 7 Reasons Saporta outlined three main foundations that the PRA believes are crucial for harnessing the UK’s strengths: Trust: A strong emphasis on maintaining trust in the PRA and the UK's prudential framework. Effective Processes: The need for streamlined regulatory processes and proactive engagement. Responsiveness: A commitment to addressing UK-specific risks and opportunities head-on. A ...
Carbon Markets | Sep 21, 2023 Solid World, KlimaDAO, and SCB Group announce partnership to deploy prepaid carbon liquidity using blockchain technology, enhancing efficiency and transparency in the carbon market. With global climate challenges on the rise, there's a pressing demand for clear, efficient, and adaptable carbon market strategies. The new alliance between KlimaDAO, SCB Group, and Solid World highlights the next phase in carbon market dynamics, shedding light on the potential impact and direction of this collaboration. KlimaDAO is at the forefront of blockchain-based carbon credit solutions, dedicated to fostering a sustainable future. With a vision to revolutionize the carbon market, KlimaDAO provides cutting-edge market infrastructure, ensuring transparency and efficiency in carbon trading. Solid World (an NCFA Industry Partner) offers innovative infrastructure solutions pioneering the next generation of carbon market platforms. Solid World's infrastructure stands out for its ability to create a liquid market for prepaid carbon credits that are yet to be issued. This is a game-changer for the Voluntary Carbon Markets, offering predictability of funding and reducing payback times for project developers. The introduction of the CRISP framework further augments the confidence in such projects. The new prepaid credit pool has launched with 54,050 tonnes of carbon and ...
Sep 21, 2023 When it comes to warehousing solutions, businesses often stand at a crossroads, wondering whether to invest in fancy permanent storage facilities or go for those temporary warehouse buildings. This decision can really shake up a company's piggy bank and its overall way of doing things. So, let's dive into the cost-benefit stuff of temporary vs. permanent storage solutions, and we'll throw in some interactive and engaging examples to keep things interesting. The Lowdown Storing goods is a big deal for lots of industries, from selling stuff to making stuff to clicking stuff online. Warehouses, those big storage places, they're like the backbone of making sure things stay organized. When you're deciding between temporary and permanent storage, you've got to think about a bunch of things. Let’s check the basics about each storage solution. Temporary Warehouses Before we get all serious about costs, let's talk about temporary warehouse buildings, also known as portable or semi-permanent structures. They have gained popularity for their flexibility and cost-efficiency. These structures are typically made of durable materials like steel or aluminum and can be erected quickly without the need for a concrete foundation. This makes them an ideal choice for businesses looking ...
Mobile Wallet | Sep 20, 2023 Major American banks like JPMorgan Chase, Bank of America, and Wells Fargo are gearing up to launch "Paze", a mobile wallet that will connect directly to the credit and debit card accounts of 150 million customers. The rise of mobile wallets and digital payment solutions by tech companies has been meteoric. Apple Pay, for instance, has seen its user base grow from 60 million to over 500 million in just five years. Such numbers are not just impressive; they're a clarion call for banks to innovate or risk being sidelined. See: Bank CEOs Defend P2P Payments Network Zelle in Senate Hearing Over Consumer Fraud Handling As banks are increasingly leaning towards partnerships with fintechs, there are rising concerns from regulators. They are wary of the potential risks these collaborations might introduce, especially in terms of customer data and security. Paze - Collaboration Over Competition Paze is not just another mobile wallet. It's a strategic initiative by giants such as JPMorgan Chase, Bank of America, and Wells Fargo. Designed to connect directly to the credit and debit card accounts of a whopping 150 million customers, Paze aims to be the go-to mobile wallet for the ...
Payments | Sep 20, 2023 At the 2023 Sibos conference held in Toronto, Swift and Wise announced a strategic partnership aiming to enhance the global cross-border payment options available to financial institutions and their end customers. Enhanced Cross-Border Payments The partnership will allow financial institutions to route Swift payment messages directly to the Wise platform via Wise's Correspondent Services Solution. This integration ensures that Swift customers can leverage the benefits of Wise without undergoing major system overhauls. Wise will utilize Swift's advanced features, including cloud and API connectivity and Payment Pre-validation. The hallmark features of Swift GPI, such as the payment status tracker, will be updated by the Wise Platform to ensure a comprehensive end-to-end view across both networks. See: Swift’s Blockchain Breakthrough Boosts Global Tokenization Steve Naudé, Managing Director of Wise Platform: We know that banks face a number of challenges when it comes to enhancing their international payments, including that this often requires them to embed technology which is incompatible with legacy infrastructure. By simultaneously leveraging existing payments architecture and optimising payouts using Wise's global network, we are empowering banks to innovate effortlessly. Our network, combined with Swift’s extensive reach and trackability, will make international payments more convenient, ...
Crypto | Sep 20, 2023 Bitbuy, a subsidiary of WonderFi Technologies Inc., has announced a strategic partnership with Localcoin, Canada's largest Bitcoin ATM provider. This collaboration aims to enhance cryptocurrency adoption and accessibility across Canada. Expanding Access to Crypto Localcoin, established in 2017, has been a pioneer in the cryptocurrency ATM sector in Canada. With 920 ATMs, it captures 33% of the cryptocurrency ATM market share in the country. Localcoin chose Bitbuy for its scale, commitment to the Canadian market, and robust regulatory positioning. Bitbuy's digital asset services will soon power nearly 50% of Canada's Bitcoin ATMs. This is a testament to the scale and reach of the partnership. See: Bitbuy to Offer Stock Trading to Its Users Bitbuy is on track to surpass 900,000 registered Canadian users by the end of the month, making it one of the country's largest crypto-trading platforms. The platform caters to a diverse user base, including retail and advanced traders, high-net-worth individuals, and institutional clients. This partnership solidifies both companies' positions as leaders in the Canadian cryptocurrency space. This collaboration ensures that Canadians have more touchpoints to access cryptocurrencies, making it easier for both novices and experts to buy or sell digital assets. Improving ...
Brookings | Sep 20, 2023 Event Overview Date & Time: October 6, 2023, from 9:00 am to 1:00 pm EDT. Location (In-person or Online): The Brookings Institution, Falk Auditorium, 1775 Massachusetts Ave NW, Washington, D.C. 20036. Overview: America was once a leader in the adoption of new payment technologies, introducing innovations like credit cards and ATMs. However, in recent times, the country has fallen behind in terms of payment infrastructure. The current system is slow and often imposes costs on users. See: Payments Canada Delays Launch of Real-Time Rails Again (without a timeline) With the rise of digitization and technological advancements, there's a significant opportunity to reform the payment system to benefit the economy, promote financial access, and facilitate commerce and trade. However, these innovations also bring regulatory challenges and questions about the role of government and central banks. The event will delve into the current state of U.S. payments and emerging digital asset technologies that could disrupt them. The event is a collaboration between Brookings, Cornell Law, and Vanderbilt Law. Discussion topics topics include public and private real-time payment systems (FedNow and Real-Time Payments), cryptocurrencies, stablecoins, central bank digital currencies, and more. See: Could FedNow Outperform Virtually All Existing ...
Sep 20, 2023 When diving into the bustling world of e-commerce, setting up a Shopify store is just the beginning. The real challenge lies in drawing traffic and converting visitors into loyal customers. While you’ve probably dipped your toes into some basic SEO, let’s further explore some advanced strategies tailored for Shopify. Get to Know Schema Markup Schema markup, a form of microdata, makes search engines understand the context on your site better. By integrating schema markup into your Shopify store with the help of a Shopify SEO expert, you enhance the rich snippets that appear beneath your page title in search results. This can include product prices, ratings, and stock levels. For e-commerce, this is a goldmine. Shoppers get more info right from the search results, making them more likely to click. Harness the Power of Long-Tail Keywords While single-world keywords have their place, long-tail keywords (those three or four keyword phrases specific to what you’re selling) can be a game-changer. Why? They cater to users who are closer to the point of purchase. Utilize tools like SEMrush or Google Keyword Planner to uncover long-tail gems relevant to your products. Once you’ve got a list, sprinkle them naturally throughout ...
M&A | Sep 19, 2023 Hut 8 Mining has received the final nod from the Supreme Court of British Columbia to merge with U.S. Data Mining Group, known as US Bitcoin Corp. This strategic move aims to bolster their position in the North American market, combining both bitcoin and fiat revenues. The merger is expected to enhance their operational capacity and expand their presence in the stock market. Final Approval for Merger Hut 8 Mining has secured the final court approval from the Supreme Court of British Columbia to complete its merger with U.S. Data Mining Group, which operates under the name US Bitcoin Corp. This merger had been in the works since February 2023 and was contingent on both shareholder and regulatory approvals. See: Proposed Changes to Crypto Mining GST/HST Rules: What’s Capture and What’s Not? Strategic Positioning The merger is an all-stock merger of equals and is anticipated to create a robust business entity in North America, backed by both bitcoin and fiat revenues. The combined entity, named Hut 8 Corporation or "New Hut," will be publicly traded in the United States. This move is expected to significantly enhance their operational capacity, with access to 825 megawatts across ...
AI | Sep 19, 2023 As AI-driven tools and platforms continue to evolve, they promise efficiency, accuracy, and convenience. But does this mean the end of the human touch in financial advisory? In an era where Artificial Intelligence (AI) is revolutionizing various sectors, the domain of personal finance stands out as one where the human touch remains indispensable. While AI brings a plethora of benefits to the table, there are certain nuances and intricacies that only a human can cater to. 1. Emotional Quotient Money matters are deeply personal and often intertwined with emotions. For instance, consider a young couple grappling with the decision to buy their first home. While AI can provide data on market trends, interest rates, and property valuations, it cannot understand the emotional significance of their first home purchase. A human advisor, on the other hand, can empathize with their excitement and anxieties, offering comfort and guidance during this significant life event. When someone faces a financial setback, such as job loss or a market downturn affecting their investments, they need more than just data-driven advice. They need reassurance, a listening ear, and sometimes even a shoulder to lean on. This emotional support is something that ...
Regulatory Insights | Sep 21, 2023 A recent speech by Victoria Saporta at the Bank of England conference sheds light on the Prudential Regulation Authority's (PRA) vision and its commitment to bolstering the UK's position as a global financial hub focusing on international competitiveness and growth. Victoria Saporta, Executive Director, Prudential Policy highlighted the PRA's new secondary objective, which emphasizes facilitating the UK economy's international competitiveness and growth over the medium to long term. This objective aligns with international standards, ensuring that the UK remains a key player on the global stage. The PRA's approach to this objective isn't entirely new. They initiated a conversation about a year ago with a Discussion Paper that outlined their policy approach. Saporta's speech in February further solidified the PRA's stance, proposing regulatory foundations that would guide their approach. Three Pillars of Competitiveness and Growth See: Canada’s Competition Problem: 7 Reasons Saporta outlined three main foundations that the PRA believes are crucial for harnessing the UK’s strengths: Trust: A strong emphasis on maintaining trust in the PRA and the UK's prudential framework. Effective Processes: The need for streamlined regulatory processes and proactive engagement. Responsiveness: A commitment to addressing UK-specific risks and opportunities head-on. A ...
Carbon Markets | Sep 21, 2023 Solid World, KlimaDAO, and SCB Group announce partnership to deploy prepaid carbon liquidity using blockchain technology, enhancing efficiency and transparency in the carbon market. With global climate challenges on the rise, there's a pressing demand for clear, efficient, and adaptable carbon market strategies. The new alliance between KlimaDAO, SCB Group, and Solid World highlights the next phase in carbon market dynamics, shedding light on the potential impact and direction of this collaboration. KlimaDAO is at the forefront of blockchain-based carbon credit solutions, dedicated to fostering a sustainable future. With a vision to revolutionize the carbon market, KlimaDAO provides cutting-edge market infrastructure, ensuring transparency and efficiency in carbon trading. Solid World (an NCFA Industry Partner) offers innovative infrastructure solutions pioneering the next generation of carbon market platforms. Solid World's infrastructure stands out for its ability to create a liquid market for prepaid carbon credits that are yet to be issued. This is a game-changer for the Voluntary Carbon Markets, offering predictability of funding and reducing payback times for project developers. The introduction of the CRISP framework further augments the confidence in such projects. The new prepaid credit pool has launched with 54,050 tonnes of carbon and ...
Sep 21, 2023 When it comes to warehousing solutions, businesses often stand at a crossroads, wondering whether to invest in fancy permanent storage facilities or go for those temporary warehouse buildings. This decision can really shake up a company's piggy bank and its overall way of doing things. So, let's dive into the cost-benefit stuff of temporary vs. permanent storage solutions, and we'll throw in some interactive and engaging examples to keep things interesting. The Lowdown Storing goods is a big deal for lots of industries, from selling stuff to making stuff to clicking stuff online. Warehouses, those big storage places, they're like the backbone of making sure things stay organized. When you're deciding between temporary and permanent storage, you've got to think about a bunch of things. Let’s check the basics about each storage solution. Temporary Warehouses Before we get all serious about costs, let's talk about temporary warehouse buildings, also known as portable or semi-permanent structures. They have gained popularity for their flexibility and cost-efficiency. These structures are typically made of durable materials like steel or aluminum and can be erected quickly without the need for a concrete foundation. This makes them an ideal choice for businesses looking ...
Mobile Wallet | Sep 20, 2023 Major American banks like JPMorgan Chase, Bank of America, and Wells Fargo are gearing up to launch "Paze", a mobile wallet that will connect directly to the credit and debit card accounts of 150 million customers. The rise of mobile wallets and digital payment solutions by tech companies has been meteoric. Apple Pay, for instance, has seen its user base grow from 60 million to over 500 million in just five years. Such numbers are not just impressive; they're a clarion call for banks to innovate or risk being sidelined. See: Bank CEOs Defend P2P Payments Network Zelle in Senate Hearing Over Consumer Fraud Handling As banks are increasingly leaning towards partnerships with fintechs, there are rising concerns from regulators. They are wary of the potential risks these collaborations might introduce, especially in terms of customer data and security. Paze - Collaboration Over Competition Paze is not just another mobile wallet. It's a strategic initiative by giants such as JPMorgan Chase, Bank of America, and Wells Fargo. Designed to connect directly to the credit and debit card accounts of a whopping 150 million customers, Paze aims to be the go-to mobile wallet for the ...
Payments | Sep 20, 2023 At the 2023 Sibos conference held in Toronto, Swift and Wise announced a strategic partnership aiming to enhance the global cross-border payment options available to financial institutions and their end customers. Enhanced Cross-Border Payments The partnership will allow financial institutions to route Swift payment messages directly to the Wise platform via Wise's Correspondent Services Solution. This integration ensures that Swift customers can leverage the benefits of Wise without undergoing major system overhauls. Wise will utilize Swift's advanced features, including cloud and API connectivity and Payment Pre-validation. The hallmark features of Swift GPI, such as the payment status tracker, will be updated by the Wise Platform to ensure a comprehensive end-to-end view across both networks. See: Swift’s Blockchain Breakthrough Boosts Global Tokenization Steve Naudé, Managing Director of Wise Platform: We know that banks face a number of challenges when it comes to enhancing their international payments, including that this often requires them to embed technology which is incompatible with legacy infrastructure. By simultaneously leveraging existing payments architecture and optimising payouts using Wise's global network, we are empowering banks to innovate effortlessly. Our network, combined with Swift’s extensive reach and trackability, will make international payments more convenient, ...
Crypto | Sep 20, 2023 Bitbuy, a subsidiary of WonderFi Technologies Inc., has announced a strategic partnership with Localcoin, Canada's largest Bitcoin ATM provider. This collaboration aims to enhance cryptocurrency adoption and accessibility across Canada. Expanding Access to Crypto Localcoin, established in 2017, has been a pioneer in the cryptocurrency ATM sector in Canada. With 920 ATMs, it captures 33% of the cryptocurrency ATM market share in the country. Localcoin chose Bitbuy for its scale, commitment to the Canadian market, and robust regulatory positioning. Bitbuy's digital asset services will soon power nearly 50% of Canada's Bitcoin ATMs. This is a testament to the scale and reach of the partnership. See: Bitbuy to Offer Stock Trading to Its Users Bitbuy is on track to surpass 900,000 registered Canadian users by the end of the month, making it one of the country's largest crypto-trading platforms. The platform caters to a diverse user base, including retail and advanced traders, high-net-worth individuals, and institutional clients. This partnership solidifies both companies' positions as leaders in the Canadian cryptocurrency space. This collaboration ensures that Canadians have more touchpoints to access cryptocurrencies, making it easier for both novices and experts to buy or sell digital assets. Improving ...
Brookings | Sep 20, 2023 Event Overview Date & Time: October 6, 2023, from 9:00 am to 1:00 pm EDT. Location (In-person or Online): The Brookings Institution, Falk Auditorium, 1775 Massachusetts Ave NW, Washington, D.C. 20036. Overview: America was once a leader in the adoption of new payment technologies, introducing innovations like credit cards and ATMs. However, in recent times, the country has fallen behind in terms of payment infrastructure. The current system is slow and often imposes costs on users. See: Payments Canada Delays Launch of Real-Time Rails Again (without a timeline) With the rise of digitization and technological advancements, there's a significant opportunity to reform the payment system to benefit the economy, promote financial access, and facilitate commerce and trade. However, these innovations also bring regulatory challenges and questions about the role of government and central banks. The event will delve into the current state of U.S. payments and emerging digital asset technologies that could disrupt them. The event is a collaboration between Brookings, Cornell Law, and Vanderbilt Law. Discussion topics topics include public and private real-time payment systems (FedNow and Real-Time Payments), cryptocurrencies, stablecoins, central bank digital currencies, and more. See: Could FedNow Outperform Virtually All Existing ...
Sep 20, 2023 When diving into the bustling world of e-commerce, setting up a Shopify store is just the beginning. The real challenge lies in drawing traffic and converting visitors into loyal customers. While you’ve probably dipped your toes into some basic SEO, let’s further explore some advanced strategies tailored for Shopify. Get to Know Schema Markup Schema markup, a form of microdata, makes search engines understand the context on your site better. By integrating schema markup into your Shopify store with the help of a Shopify SEO expert, you enhance the rich snippets that appear beneath your page title in search results. This can include product prices, ratings, and stock levels. For e-commerce, this is a goldmine. Shoppers get more info right from the search results, making them more likely to click. Harness the Power of Long-Tail Keywords While single-world keywords have their place, long-tail keywords (those three or four keyword phrases specific to what you’re selling) can be a game-changer. Why? They cater to users who are closer to the point of purchase. Utilize tools like SEMrush or Google Keyword Planner to uncover long-tail gems relevant to your products. Once you’ve got a list, sprinkle them naturally throughout ...
M&A | Sep 19, 2023 Hut 8 Mining has received the final nod from the Supreme Court of British Columbia to merge with U.S. Data Mining Group, known as US Bitcoin Corp. This strategic move aims to bolster their position in the North American market, combining both bitcoin and fiat revenues. The merger is expected to enhance their operational capacity and expand their presence in the stock market. Final Approval for Merger Hut 8 Mining has secured the final court approval from the Supreme Court of British Columbia to complete its merger with U.S. Data Mining Group, which operates under the name US Bitcoin Corp. This merger had been in the works since February 2023 and was contingent on both shareholder and regulatory approvals. See: Proposed Changes to Crypto Mining GST/HST Rules: What’s Capture and What’s Not? Strategic Positioning The merger is an all-stock merger of equals and is anticipated to create a robust business entity in North America, backed by both bitcoin and fiat revenues. The combined entity, named Hut 8 Corporation or "New Hut," will be publicly traded in the United States. This move is expected to significantly enhance their operational capacity, with access to 825 megawatts across ...
AI | Sep 19, 2023 As AI-driven tools and platforms continue to evolve, they promise efficiency, accuracy, and convenience. But does this mean the end of the human touch in financial advisory? In an era where Artificial Intelligence (AI) is revolutionizing various sectors, the domain of personal finance stands out as one where the human touch remains indispensable. While AI brings a plethora of benefits to the table, there are certain nuances and intricacies that only a human can cater to. 1. Emotional Quotient Money matters are deeply personal and often intertwined with emotions. For instance, consider a young couple grappling with the decision to buy their first home. While AI can provide data on market trends, interest rates, and property valuations, it cannot understand the emotional significance of their first home purchase. A human advisor, on the other hand, can empathize with their excitement and anxieties, offering comfort and guidance during this significant life event. When someone faces a financial setback, such as job loss or a market downturn affecting their investments, they need more than just data-driven advice. They need reassurance, a listening ear, and sometimes even a shoulder to lean on. This emotional support is something that ...
The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org
Related Posts
NCFA Open Banking Future Outlook with Senator Colin Deacon and Mahi Sall- New Mortgage Guidelines in Exceptional Circumstances: Implications for Fintech and Bank Mortgage Lenders
- Canada regulators propose rules for crowdfunding of startups
- ‘No Coffee for Bitcoin’ Starbucks Clarifies as Media Misinterprets Its New Crypto Venture
- 5 guiding principles for decentralized identities
- A Guide to Building an Audience for Crowdfunding
Leave a Reply