FinTech Wednesdays — Edition#2

Gen-Z finance App launched | Sound partnerships help Plug-N-Play Insurance’s success | MiCA Regulation for Crypto in EU — It’s all about personalisation and protection this week in FinTech

Innovation in FinTech is blazing forward to keep up with a user’s known AND unknown demands. But at the same time, users need to be protected from their own interests with a structured, protected, and personalised experience, whether investing in cryptocurrency, accessing insurance, or simply managing finances.

#1 — Quirk adds personality back into banking and finance

With the support of expert Psychologists, Quirk has created a unique Finance App for Gen Z where a personality quiz will help personalise the experience to the user’s personality and specific financial situation — free of charge — to learn, track, and grow their money.

“A lot of young people we talked to felt there was a lot of information out there but it lacked the context of their financial situation and guidance on what tangible actions they should take. Using all the capabilities that online technology can offer, we’ve built Quirk as a uniquely effective new solution, and the evidence so far is Gen Z loves it.” — Nafeesa Jafferjee, co-founder and Chief of Product at Quirk

KNOW MORE about how Quirk can help Gen-Z optimise their financial experience

#2 — The right partnership can make or break Plug-N-Play Insurance

Offering services at exactly the right place and time to a customer in need is what the digital experience offers. This is done by companies partnering with the right insurance carriers with the help of the Insurance-as-a-Service model.

The key points to be taken into consideration for these partnerships are not only thinking long term but also the operational challenges that may arise and the compliance and regulations that need to be taken into consideration.

KNOW MORE about how Plug-N-Play partnerships are benefiting companies

#3 — Crypto Asset service providers will now require authorisation to operate in the EU

With the Crypto market facing constant peaks and valleys of wins and scams, the Markets in Crypto-Assets (MiCA) regulation will protect investors as it ensures financial stability and enabling of innovation and growth. A public register of non-compliant crypto asset providers formed by the European Banking Authority will help aid the protection of consumers from frauds and scams in the Crypto Market.

Bruno Le Maire, French Minister for the Economy, Finance and Industrial and Digital Sovereignty stated: “Recent developments on this quickly evolving sector have confirmed the urgent need for an EU-wide regulation. MiCA will better protect Europeans who have invested in these assets, and prevent the misuse of crypto-assets, while being innovation-friendly to maintain the EU’s attractiveness. This landmark regulation will put an end to the crypto wild west and confirms the EU’s role as a standard-setter for digital topics.”

KNOW MORE about the MiCA regulation and its effect on the Crypto market

FINTECH quote of the week:

“At the end of the day, customer-centric FinTech solutions are going to win.”

– Giles Sutherland

What is the latest in FinTech that excites you? I would love to know!