Africa’s forays into fintech continue apace as a new hub opens in South Africa, while sharing knowledge across the continent continues to be crucial for success.

In addition to developing innovative products, many banks are looking within to better meet the needs of an increasingly digital society.

Some 60% of European users surveyed by McKinsey said they would consider a fully digital solution for all their banking needs, but banks are struggling to profit from online channels.

Ernie Diaz, head of US consumer distribution and wealth, TD Bank, talks about learning how a bank becomes part of a community. 

Many jurisdictions are following the EU’s proposed regulation of artificial intelligence. Firms that have not begun to develop their AI systems to comply with the new regulation are being advised to do so now.

Keeping up with fast-moving fintech innovation has proven difficult for the world’s financial supervisors, which has led to turmoil for customers and investors.

Forecasts of a collapse in the value of the fintech market are probably premature, according to many in the industry.

As a region that has long led the way in fintech innovation, Asia’s mature stance on crypto development is unsurprising. 

Many argue that the likes of bitcoin can help displaced people access financial services, but others are more sceptical. 

Banks and building societies in the UK will be required to assess the impact of changes to their services such as shorter branch opening times and the shuttering of branches.