Fraud and Scams (or at least attempts), plague our lives. Emails, texts, calls, FB Marketplace, everywhere.However, are we looking close enough to home, at our own pets even?Sometimes good ideas should just stay as ideas, as one unlucky YouTuber found when his pet fish exposed his credit card details on his channel and started an online shopping spree.That's a pretty big flaw in the payment authentication workflow, don't you think?I for one would love to see the chargeback request for this!https://www.finextra.com/newsarticle/41687/pokmon-playing-fish-commit-credit-cod-fraud

Survival of the Fittest: proven business models, profit focussed, who knew?Security & Fraud:  if 2022 taught us anything, this is you should be prioritising CAPEX in 2023. Normalized funding rounds and valuations: 2021 was a mistake, let’s just forget it happened and move on. Big Tech Vultures: off the back of Fintech’s validating products, Big Tech swoop in and replace or acquire capability. AI (*cough* ML): plays a prominent role in new products and experiences. BaaS Consolidation: It’s Highlander time for providers and NEO’s, how many do we really need?BNPL Evolution: not revolution, times’ changing.

Does ChatGPT need an AFSL?As a language model, ChatGPT does not need an Australian Financial Services (AFS) licence because it is not capable of providing financial services or advice. It is a tool that generates text based on the input it receives, but it does not have the ability to make decisions or offer recommendations. It is the responsibility of individuals and businesses to obtain financial advice from qualified and licensed professionals. In Australia, it is a legal requirement for businesses and individuals to hold an AFS licence if they provide financial services, including giving financial advice, to clients.

When sanctions on Russia removed access to SWIFT, Payments and Financial Services became a weapon of war.Whilst a justified response, where does the line stop and start when a provider or country doesn’t like the services you offer, or where and how those services are provided?Or maybe as a citizen you said something online that provoked a response where your access to financial services were removed.Though hate crime and other behaviour deserves action. Should we be worried that access to financial services is becoming a mechanism for censorship?And will DeFI solve or create more problems?

That's right, a few keywords, click and alakazam..............The financial sector is under siege. In recent years, a number of high-profile hacks have left consumers reeling, and Fintech startups are chipping away at the traditional banking model. To stay ahead of the curve, banks are turning to artificial intelligence (AI) for help. AI is already being used in a number of ways in the financial sector, from fraud prevention to customer service. But, its use is only going to increase in the coming years. Banks are investing billions of dollars in AI, and the results are already starting to show.

Innovation. Disruption. Choice.These are 3 things startups (on the whole) and Fintechs bring to our daily lives. New products, new ways to interact across different mediums and greater choice, creating competitive tension and theoretically greater value for consumers.So what happens if and/or when an economic crisis or a talent shortage impacts the Fintech industry?Well, frankly, some of these products may no longer be in market, snapped up by an incumbent or at a minimum progress slowed.Will your daily life get easier or harder? Will your access to innovative products be lessened?Only time will tell.